Mobile wallet marketplace in China adds another key player

Baidu News mobile wallet

Baidu, the Chinese search giant is now adding its own smartphone based payments service to the mix. China’s smartphone based payments market is already growing at an astounding rate, as $1.6 trillion in transactions were completed over that channel in 2013, but now it is about to become a little bit more competitive as Baidu tosses its own mobile wallet service into the mix of options available for consumers. This will place the search company in direct competition with other online giants, such as Tencent and Alibaba. This new mobile…

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