Caixin
Dec 20, 2017 08:15 AM
BUSINESS & TECH

Didi Chuxing Picks Up a Payment License

Because of limited supply, some internet giants are looking to buy companies with an existing license to get into the mobile payment business. Above: Didi's headquarters in Beijing. Photo: IC
Because of limited supply, some internet giants are looking to buy companies with an existing license to get into the mobile payment business. Above: Didi's headquarters in Beijing. Photo: IC

Didi Chuxing, China’s largest ride-hailing company, is speeding into the payments business, acquiring a much-coveted license to join the red-hot internet financial-services arena.

Didi has agreed to fully acquire third-party payment-services provider 19Pay for 300 million yuan ($45.4 million), according to a Tuesday statement by Shanghai-listed GoHigh Data Networks Technology Co.

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