Xiaonei Launches Payment Platform for Applications
Xiaonei, the leading social network in China, and also a Facebook copycat, announced today that it has released a payment platform for applications. The China Web 2.0 blog reports that the system leverages the company’s Xiaonei Dou, which is a virtual currency that users can purchase via the mobile phone, Alipay, or Yeepay. For a year there has been significant buzz about the potential of Facebook launching a payment platform but nothing has been done yet.
As far as I know this is the first social network to officially announce a payment platform.
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