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New platform launched to connect businesses, banks and third-party tools

By He Wei in Shanghai | chinadaily.com.cn | Updated: 2021-10-18 09:37

Huifu Payment Ltd, a Shanghai-based third-party payment firm, has launched a new payment platform connecting business clients, commercial banks and other third-party payment tools like Alipay and WeChat Pay. [Photo/Huifu Payment]

Huifu Payment Ltd, a Shanghai-based third-party payment firm, has launched a new payment platform connecting business clients, commercial banks and other third-party payment tools like Alipay and WeChat Pay.

Named "Dougong", the platform is designed to allow ordinary software developers to come up with their respective payment solutions, enable operators to manage capital flows, and ensure business can obtain analyzable data in real time.

According to Huifu, such a service is now accessed by some 30 enterprise merchants and SaaS companies, which host an application and make it available to customers over the internet.

The move comes as Chinese regulators rein in monopoly and encourage the interconnection of payment interfaces and data flow among internet companies.

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Alipay He Wei Huifu Huifu Payment Ltd Shanghai

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