Is 360Buy Looking to Buy Into Online Payments?

Boy, ever since that ill-fated e-commerce war, 360Buy seems desperate to get out of e-commerce. First there was the news that the company wanted to get into games. Then we learned that it was also developing an advertising platform. Now, if Sina Tech’s inside sources are to be believed, 360Buy is also trying to get into online payments.

According to the aforementioned sources, 360Buy is looking to buy out an online banking company that already has a government license to operate an online payment service, and then use that license to operate its own e-payment service. Insiders say that the purchase is “basically complete” and that details should be announced soon, but at present it remains an unconfirmed rumor and there is no indicate of which online banking operation 360Buy may be looking to purchase.

Regardless of the veracity of this report, it’s pretty clear by now that 360Buy is looking hard at ways to increase revenue and is not limiting itself just to expansions of its e-commerce operations. The company is reportedly in some financial trouble and seems to hope alternative business models will help dig it out of the hole. If 360Buy still exists in ten years, will it even be an e-commerce company?

[via Sina Tech]