Chinese ride-hailing app Didi Chuxing has moved into financial services by launching credit and lending, wealth management, mutual protection, and auto-financing services.
The launch follows a pilot of the financial services offering in 10 cities including Chongqing, Zhengzhou as well as Foshan.
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The financial services will be available for passengers, drivers, car-owners and business partners of the ride-hailing app.
“A new health insurance product, for instance, breaks down annual critical illness insurance to lower the entry barrier for gig economy workers and broaden the scope of protection for more families. Other mutual protection and lending services draw on the credit mechanism and data-driven risk control architecture of DiDi as a bilateral transaction platform to provide enhanced financial facility,” Didi said in a statement.
The financial services arm of Didi was officially launched in early 2018. The move comes at a time when the firm is under the scanner for murder of two female passengers a year ago.
The heightened scrutiny after the murder prompted the firm to add new safety features.
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By GlobalData“On the whole, financial services are expected to help DiDi build a stronger network of collaboration and shared interests and in turn, a tighter and more efficient transportation ecosystem,” Didi noted.
