(Yicai Global) July 23 -- China’s ride-hailing giant Didi Chuxing Technology has updated the name of one of its subsidiaries to prepare to offer its clients online banking services.

Didi Chuxing recently changed Yijiu Pay Technology's name to Didi Pay Technology, according to business information platform Tianyancha.

The fresh name should prepare the platform to renew its online payments license by June 2022, Beijing Youth Daily reported, citing analysts. Formed in July 2010, Yijiu Pay gained the valuable license in June 2012.

Didi Pay should begin to offer online banking services, according to the parent's website. So far users can pay for rides via mobile wallets Alipay, QQPay, and WeChat Pay, as well as by account balance or bank cards.

The Beijing-based ride-sharing company bought Yijiu Pay for CNY300 million (USD42.9 million) two and a half years ago.

Editor: Emmi Laine