On October 19, 2015, the 6th Sino-British Internet roundtable was held in BIS Conference Center, London, United Kingdom. The relevant government departments from the UK and China and some of the entrepreneurs from the business delegations following President Xi Jinping to visit the UK participated in the conference. The conference themed "E-commerce, Finance, and Infrastructure in the Era of Mobile Internet” covering finance, big data, culture, etc.
After giving a keynote speech, Sun Taoran, a representative of China Internet Finance Entrepreneurs, Chairman and President of Lakala Group, took the lead to sign a cooperation agreement with Allpay Limited, the largest bill payment company in the UK, under the witness of the two government ministers. It brings a new opportunity for the business with the UK to China Internet finance sector. It is the first contract after the arrival of President Xi's business group in the UK. It marks the moment that China's Internet financial business has officially stepped into the foreground of Sino-British trade cooperation.
Lakala and Allpay Limited will jointly build a cross-border financial service platform through the bilateral technical and business cooperation to provide convenient finance and cross-border payment services for both Chinese and British consumers. They will also explore further collaboration in the Community-based convenience services, smart wearable devices, cross-border E-commerce, etc.
It is worth mentioning that the Kaola watch (Newland ME19), exclusively supported by Newland Payment Technology, made its debut at the conference and received a lot of attention. It is a smart wearable device integrating multiple cards and functions of air card issuing, air top-up, etc. It is equipped with the Internet financial services, such as electronic wallets, credit, finance, etc. Besides, it meets the flash payment (quick pass) consumption and several card payment scenarios such as bus, subway, canteen, residential access, etc. The user only needs to download the corresponding virtual card into the smart chip in Kaola watch. Via the intelligent app without carrying a transportation prepaid card and wallet, it will be much easier for payment during traveling.