JD’s fintech arm tests social app for college students

In a hope that students can become users for its financial products.

Photo:Shutterstock.com

JD.com’s fintech arm JD Digits, rebranded from JD Finance, is testing a social app called Liwowo for China’s college Android phone users, local media 36Kr reported, citing sources close to the matter.

The development of Liwowo started as early as last November. The app, whose slogan is “to know interesting new classmates”, aims at facilitating making new friends among college students.

Chatting can only be initiated by verified users, while the verification part is done by the e-tailer’s fintech arm, which is valued above RMB 130 billion (USD 19.4 billion) after its Series B round financing in 2018.

The most important thing is, Liwowo users will be able to apply for JD Digits’ consumer finance services, including applying for a co-branded credit card issued by JD Finance and a local bank.

JD Digits said on its website that in the past four years, its co-branded “Xiaobai” credit card, a result of its tie-up with a slew of Chinese banks such as the likes of ICBC, China CITIC Bank, has received more than 20 million applications.

The sources said JD might launch on-spot promotion of Liwowo on campuses during China’s back-to-school season which starts in September.

JD Digits has not responded to 36Kr‘s request for comment.

36Kr is KrASIA’s parent company.