JD’s fintech arm tests social app for students
JD Digits, the fintech branch of JD.com, renamed JD Finance, is test a social app called Liwowo for Chinese university android phone users, local media 36Kr reported, citing sources familiar with the matter.
Liwowo’s development began last November. The app, whose slogan is “meet new interesting classmates”, aims to make it easier to make new friends among students.
The chat can only be initiated by verified users, while the verification part is performed by the e-merchant’s fintech arm, which is valued at over 130 billion RMB ($ 19.4 billion) after its funding of series B in 2018.
Most importantly, Liwowo users will be able to apply for JD Digits consumer credit services, including a co-branded credit card application issued by JD Finance and a local bank.
JD Digits said on its website that over the past four years, its “Xiaobai” co-branded credit card, the result of its partnership with a large number of Chinese banks such as ICBC, China CITIC Bank, received over 20 million applications.
The sources said JD may launch an on-site promotion of Liwowo on campuses during the start of the school year in China which begins in September.
JD Digits did not respond to 36Krrequest for comments.
36Kr is the parent company of KrASIA.