Chinese lifestyle information website 58.com has signed a long-term memorandum of understanding with UA Finance, a foreign-invested small loan company, to implement services in the Internet finance sector.
According to the agreement signed by the two parties, their cooperation will cover online business promotion and sales, database sharing and product promotion, and cross-region financial cooperation. With the deal, the two parties will integrate resources and strengthen their Internet financial services.
Using 58.com's offline vendor certification system, the two parties will develop a financial certification program. UA Finance will help 58.com provide pre-paid vendors with optional pre-paid financial management products.
In the future, the two companies will work together to discuss and develop peer-to-peer loan businesses and build a related portal platform.