(CBN - Global) May 5 -- The State Grid Corporation of China, provider of electrical power to 1.1 billion people in China, has developed its own mobile payment system called 'Dian-e-Bao.'
Dian-e-bao is similar to Alipay, China's leading third-party online payment service, and will be used specifically by State Grid's users to pay their electricity bills and other expenses in China.
In time, the State Grid will terminate utilities' payment facilities via third-party platforms.
The State Grid is the largest electric utility company in the world with 1.72 million employees. It is the seventh largest company in the world according to the 2015 Fortune Global 500 ranking.