iQIYI Launches “Change Plus” Online Wallet to Integrate Entertainment and Financial Services

iQIYI Inc. (NASDAQ: IQ) (“iQIYI” or the “Company”), an innovative market-leading online entertainment service in China, announced the launch of its “Change Plus” online wallet in partnership with aiBank. The announcement further illustrates iQIYI’s continuous efforts to improve user experience for its members and explore new growth opportunities by creatively integrating entertainment and financial services.

iQIYI’s “Change Plus” online wallet allows users to enjoy new membership benefits. Users who deposit a certain amount of money on iQIYI can enjoy all of iQIYI’s VIP membership services and can deposit or withdraw their money at any time they want.

They will be able to enjoy the benefits of VIP membership for as long as they keep money saved on “Change Plus”.

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Users who deposit money in “Change Plus” can also enjoy a steady return on their savings and receive interest on their deposits in accordance with China’s unified current interest rate.

iQIYI also plans to further expand various member services via “Change Plus” in the near future, including reward-giving rights on live streaming platforms Qixiu and voting privileges for iQIYI’s hit variety shows such as The Rap of China.

Liu Wenfeng, chief technology officer of iQIYI, said: “iQIYI’s analysis of big data provides accurate insights into the behavior and preferences of consumers, helping integrate finance services with our entertainment platform and expand our user base to include high-net-worth members.”

Yang Xianghua, senior vice president of iQIYI, said: “On top of iQIYI’s nine major monetization capabilities, Change Plus is a key example of new efforts by iQIYI to innovate new monetization solutions and acquire members.”

aiBank, jointly established by China CITIC Bank and Baidu, is the first financial institution to partner with iQIYI’s “Change Plus” online wallet. With DNA combining Internet and finance, the inclusive financial service platform benefits from an in-depth understanding of users and financial products, providing financial services such as payment and savings to iQIYI users.

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