China Everbright Establishes New Cloud Payments Company

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State-owned conglomerate China Everbright has launched a new fintech company which focuses on facilitating the payment of fees by means of the cloud.

China Everbright announced the official launch of Everbright Cloud Fee Payment Technology Co., Ltd. (光大云缴费科技有限公司) on 6 July.

The move follows the launch of an independently operated and managed cloud fee payments centre by China Everbright Bank in April of 2018, to be responsible for “external cooperation, brand establishment, marketing and sales, financial product R&D and big data operations” on behalf of Everbright’s cloud payments platform.

Everbright’s cloud payment platform enables users to pay for tuition fees, utilities, rent, social insurance, personal income tax and transit fees via the cloud.

The platform includes an open fee payments platform and a fee acceptance entrustment platform, providing services to customers of all sizes by processing nearly 3 million transactions per day, or over 2,000 per minute.

In addition to providing services for Everbright Bank’s branches, online banking, mobile banking and WeChat banking channels, the cloud payments platform also works with more than 280 payments, e-commerce and finance companies, including Alipay, UnionPay, JD.com and Suning.

The group hopes that the newly established company will work with the cloud fee payment centre to drive rapid expansion of cloud payments, by “attracting a wider range of cooperative partners, continually innovating cooperative models, and endeavouring to create a fee payments services network which is broader in scope and deeper in reach.”

Xu Changzhi (许长智), CEO of  Everbright Cloud Fee Payment Technology, said that the goal of the company was to create four main platforms for cloud fee payments, including:

i) An open platform directed at users across society;

ii) An information platform housing a huge volume of data;

iii) A ” finance + lifestyle + services” ecosystem services platform;

iv) A “super-small, super-accurate, super-quick” financial inclusion platform.

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