Beijing Qiandaibao Payment Technology

Beijing Qiandaihao Payment Technology Ltd., operating as qiandai.com, established itself as a significant entity in China's burgeoning fintech landscape after its founding in November 2008. The company was a key developer and manufacturer of mobile point-of-sale (mPOS) payment technology, providing comprehensive payment solutions tailored for small and medium-sized merchants. A major milestone in its history was being among the first batch of enterprises to receive a third-party payment license from the People's Bank of China (PBOC), which authorized it to conduct internet payments, mobile phone payments, and various merchant services.

The firm's trajectory took a pivotal turn in September 2016 when it was wholly acquired by Meituan-Dianping, China's leading e-commerce platform for services. This acquisition was a strategic move for Meituan, which had previously faced regulatory issues for operating payment services without a license. By integrating Qiandaibao, Meituan secured the coveted payment license, a critical asset for its expansive O2O (online-to-offline) ecosystem, which includes food delivery, hotel booking, and ride-hailing. The deal allowed Meituan to reduce its reliance on third-party payment platforms like Alipay and WeChat Pay and to create a more seamless, closed-loop transaction experience for its vast user and merchant base. Following the acquisition, Qiandaibao became the payment arm of Meituan, servicing its parent company's diverse business lines and partners.

The business model centers on providing the underlying payment infrastructure for transactions within the Meituan ecosystem. It facilitates a range of financial services, including mobile payments and bank card payments. Prior to its acquisition, Qiandaibao had secured strategic investments in November 2014 from notable investors including Haitong Securities, IDG Capital, and Ventech China, which underscored its potential in the mobile payment sector. As a subsidiary of Meituan, the company now operates as an integral part of one of China's largest internet companies, contributing to its fintech offerings which have expanded to include credit features and loans.

Keywords: third-party payment, mobile point-of-sale, mPOS, Meituan acquisition, payment license, fintech, online-to-offline, O2O payment solutions, merchant services, internet payment, mobile payment, payment gateway, e-commerce payment, Haitong Securities, IDG Capital, Ventech China, People's Bank of China, PBOC, payment infrastructure, China payments