Didi Kuaidi, China's number one car-hailing service provider, recently partnered with China Merchants Bank to assist drivers in getting car loans and card services.
China's top car-hailing app operator does not seem to need more investment and capital. The team up with one of China's largest bank China Merchants Bank seems to be very significant to Didi Kuaidi's drivers. Apart from helping Didi Kuaidi's drivers for their car loans, China Merchants Bank will also start on issuing debit and credit cards in association with in-app card payments that will be added in Didi Kuaidi's mobile app. There are also other financial services that China Merchants Bank has to offer to their new partner, according to Tech in Asia.
Although Didi Kuaidi is showing satisfactory financial stability, they still pursued in getting a strategic investment with China Mechants Bank. For Didi Kuaidi, this team up will help their workers, especially their drivers in getting extra investment, vehicle upgrades, and the most important factor is that CMB will be known to clients' who opt to make online-payments.
It can be noted that Alipay and Wepay are the two biggest names when it comes to online payment; however, since Didi Kuaidi claims that they have around 250 million users with six million being the drivers, CMB will definitely get a chance to win over Wepay and Alipay.
South China Moring Post (SCMP) reported that CMB will be joining Didi Kuaidi's list of major and biggest investors like Alibaba, Tencent, Beijing Automotive Group and other big names in the industry.
The partnership aims to bind mobile and automobile credit and financial options thru local businesses like Didi Kuaidi.
President of Didi Kuaidi Liu Qing stated that car sharing will help lessen traffic jams because there will be lesser cars on the road. Liu added that with their drivers and worker getting the right financial institution, which offers smart ways to get either a replacement car, new car and upgrading of vehicle, it can never go wrong.
CMB aims to join the competition in the mobile app payment trend. Car-hailing service providers like Didi and Uber gets constructive criticism from others because car-hailing is one cause of the congested streets in China. Both the companies' goal is to extend services of greater value to their clients at all times.