Credit China eyes online payments, P2P

Credit China FinTech Holdings Ltd is planning more investments as it aggressively expands beyond its original loans and lease-financing businesses into online payments and peer-to-peer lending.

The company, part of a consortium that offered to buy a stake in Ping An Securities Group Holdings Ltd last month, is in talks with "multiple" financial-services companies based in Asia outside China, said its CEO Phang Yew Kiat in Hong Kong on Feb 1. The Hong Kong-based firm is targeting at least one more acquisition by the end of the first quarter, he said.

"In order to support my bigger growth, I need to add new things," Phang said. "What's important is we need to have multiple revenue streams."