Document:

EX-10.49

 Exhibit 10.49 

Alipay Merchant Service Agreement 
  

			
		
	Party A:	  	
		
	Contact address:	  	
		
	Contact:	  	Contact No.:
		
	Postal:	  	Designated website:

  

			
	Industry/Business scope:	 	(required) Non-banking financial institutions or engaging in financial services

  

			
	Application scenarios of Alipay services:	 	(required) Party A is a legitimate non-banking financial institutions. Party B provides a solution of online funding channels by settling the payment (fund collected by Party B) from users
of Party B’s website to Party A and Party A’s merchants into the bank account designated by Party A.

  

			
	Party B:	 	Alipay (China) Internet Technology Co., Ltd.

  

			
	Contact address:	 	Floor 2, Building B, Huanglong Times Square, No. 18, Wantang Road, Hangzhou

  

			
	Contact:	 	Contact No.:

 WHEREAS: 
 (1) Party A is a
financial institution or is engaging in financial services, including insurance, funds, securities and credit and loan business; therefore, Party A cannot open a payment account on Party B’s website; 

(2) Party A appoints Party B to provide fund collecting service and Party B will settle the payment into the bank account designated by Party A. 

NOW THEREFORE, the Parties hereby enter into this agreement. 

 Articles of Specific Products 
  

			
	Entrusted payment and collection service
	
	Alipay membership number and number for using the service:

  

			
		
	 Service
 overview
	  	Party B, based on Party A’s authorization, shall deduct (including (i) directly deduct and (ii) stop payment first and then deduct, as actually selected by Party A, the same hereinafter) from accounts designated by
Party A (“Payer’s Account”) and pay such amount to accounts designated by Party A (“Payee’s Account”). For purpose of this service, accounts refer to both bank and Alipay accounts; however, it shall only refer to a bank
account when using the account of Party A.
		
	Service fee	  	 [REDACTED]1% of the transaction volume of a single payment;

[REDACTED]2% of the transaction volume of a single collection

		
	 Payment
 method
	  	Party B shall immediately deduct the withholding amount when the transaction is completed.
		
	 Service
 rules
	  	 1. Party A shall ensure that it has signed relevant agreements with payers and payees, obtained authorization from payers and payees to Party
A and caused payers and payees to enter into relevant authorization contracts with Party B for the use of the service. Party A shall ensure that such authorization contracts are signed by the payer or payee in person. Party A undertakes that Party B
will not infringe payer’s legal interest by deducting amounts in accordance with Party A’s instructions. If it causes any damage to Party B, Party A shall assume compensation liability. If payer or payee complaints that the authorization
is flawed or denies the authorization, Party B is entitled to suspend providing this service. If Party B has reasonable grounds to believe that the payer or the payee has not given authorization or the authorization is flawed, Party B is entitled to
terminate the service.
  
 2. Party A shall inform Party B the designated account
information, amount to be deducted and paid, timing of the deduction and other essential information in advance. Party B only follows Party A’s instructions. Any dispute or controversy arising out of mistakes of such essential information above
has no concern on Party B and Party A cannot ask Party B to return the fund or terminate the payment, etc.
  

3. Party A undertakes that its act of entrusting Party B to deduct and pay funds is in compliance with laws, regulations and other regulatory rules, and such
fund is not involved in any disputes. Otherwise, for any damage caused to Party B, Party A shall bear relevant compensation lability and Party B has the right to suspend or terminate the service.

 
 4. “T day” refers to the day “Alipay” software system receives payment
instructions from Party A. T day shall refer to a business day and if T day falls on a statutory holiday, the time to process the payment instructions shall be postponed to the first working day after the statutory holiday. When Party is paying with
“T+0”, the timing shall be determined by the bank Party B collaborates with that support this service at the exact time and determined by parties separately. Alipay software system shall send to the bank relevant payment documents or
payment instructions on day T and the bank shall complete the payment. Party A understands and agrees that if the user’s bank account is one of the banks Party B collaborates with directly, Party B ensures that it will strictly follow the
agreed service timing to initiate the payment instruction. If the user’s bank account is one of the banks that does not directly collaborate with Party B, due to the specialty of its data transmission, Party A agrees that Party B can initiate
the payment instruction within 5 days after it receives payment instructions from Party A without any liability for breach of contract. The completion of the payment shall be determined by bank statement. Banks that Party B collaborates with
directly includes the banks Party B actually collaborates with when providing the service.

  

	1 	Confidential treatment requested 

	2 	Confidential treatment requested 

			
	 	  	 5. Party A shall ensure that the payment instruction does not exceed the limit stipulated by Party B (the actual limit is
the maximum
amount Party B’s system actually supports) when Party A gives Party B payment instructions; otherwise
the payment instruction is void.
  

6. Party A understands and agrees that as the fund transmission through bank accounts is subject to rules of the bank,
including but not limited to amount
of transmission and timing to receive funds, Party B is not liable if Party B cannot
provide the service or meet Party A’s expectations for reasons due to the banks.
  

7. Party A understands and agrees that Party B only provides payment service and is not part of the contract or other
legal relationship between Party A and
the payer or Party A and the payee. Party B shall be deemed to have fulfilled its
obligations under this contract if it pays the fund to the payee’s account in accordance with the agreement. Party B shall
not be involved in any dispute or
controversy Party A has with a third party.

		
	Special Rule	  	If other clauses of this agreement are inconsistent with the service rules, the service rules shall prevail.

 Basic Articles 

Article 1    Relevant definitions 

Unless the context otherwise specifies, the following terms used in this agreement shall have the following meanings: 

 

	1.1	Alipay Service: It refers to services Party B shall provide for Party A and Party A’s merchants in accordance with the terms and conditions of this agreement and the service types chosen by Party A.

  

	1.2	Website of Party A: It shall include but shall not be limited to the websites of Party A (PC and wireless), Party A client and H5 page of Party A. 

 

	1.3	Alipay business tool interface (hereinafter referred to as the “interface”): It refers to the software interface of the Alipay software system developed by Party B. After Party A and Party A’s merchants
have achieved an effective connection with the software interface, the website of Party A and Party A’s merchants shall be accessible to Alipay services. “Alipay business tool interface” has a cooperative identification code, which is
used to identify the transactional volume of Alipay services used by Party A (including Party A merchants). Party A’s cooperative identification code is Party A’s identity code (i.e. Party A’s PID). 

	1.4	Instant arrival service: Party B shall not provide intermediary services of Alipay. All risks and liabilities shall be resolved and borne by the payer and payee themselves. Payment shall be transferred into the
payee’s account upon the payer’s confirmation. If Party A is a merchant, the payment will be transferred into Party A’s Alipay account; if Party A is a financial institutions or conduct financial services, the payment will be
transferred into Party A’s bank account. Based on whether a refund function is included in the instant arrival interface or not, the distinction shall be made between the ordinary instant arrival interface (no refund function) and the advanced
instant arrival interface (including refund function). 

  

	1.5	Shortcut payment service (including debit card shortcut payment service and credit card shortcut payment service): Party A’s and Party A’s merchants’ user shall submit the relevant bank card information
to Party B’s system. Party B shall assist Party A’s and Party A’s merchants’ users in completing the payment service to Party A. 

  

	1.6	Small-sum shortcut payment service: it consists of one of the shortcut payment services having a single payment, daily payment and monthly payment amount of less than five hundred
yuan (including 500 yuan). Where Party A and Party A’s merchants have subscribed for the instant arrival service but have not yet subscribed for the shortcut payment service and simultaneously subscribed for the
small-sum shortcut payment service (including debit card shortcut payment service and credit card shortcut payment service), the content and rules of the service shall be described in detail under the relevant
agreement on shortcut payments; small-sum shortcut payments enjoy the same rate as payments made through Alipay account balance. However, Party B is entitled to terminate the provision of small-sum shortcut payment services in accordance with the needs of its own business development and risk prevention. 

  

	1.7	Transaction volume: It refers to the amount of transactions completed through Party A’ s chosen service types for Alipay services as calculated by the Alipay software system (including but not limited to the
purchase price and freight). Party B shall use the software system and calculate all valid transaction volume containing Party A’s “cooperation identification code” using the Alipay service through the “Alipay merchant tool
interface” (The validity of transaction volume is subject to Party B’s discretion). Such transaction volume shall serve as the basis on which Party B collects charges from Party A. If a transaction is set up during the valid term of the
agreement which transaction will be completed after the agreement’s expiry, the corresponding transaction amount shall be included in the transaction volume. This transaction amount shall be included in the transaction volume stipulated in an
extension agreement signed by both Parties. Where both Parties have not re-signed an agreement, Party A shall pay software service fees to Party B at
[REDACTED]3 percent of the transaction amount of each transaction. 

  

	1.8	Users: It refers to the users using Party B’s service who conduct transactions with Party A or Party A merchants. 

  

	1.9	Party A merchant: It refers to natural persons, legal persons or other organizations that use the system and/or platform supplied by Party A and on the system and/or platform conduct transactions as well as directly
using Alipay’s services through Party A or using Alipay payment services recommended by Party A. 

  

	1.10	Unauthorized transactions: It refers to Party A’ users without the authorization of the bank card cardholder (including debit card and credit card, etc.), or Alipay account/membership number holders using a bank
card or Alipay account/membership number, completing a transaction with Party A or Party A merchants through the Alipay service. 

 

	3 	Confidential treatment requested 

 Article 2    Service content 

 

	2.1	Party B shall provide the following services for Party A: 

  

	2.1.1	Security encryption 

 Party B shall provide 128-bit
network transmission encryption channels of high quality for Party A using Party B’s service. Party B shall provide Party A with such services as interface specifications for information transmission, the security transfer protocol of the
configuration, and permission settings of back-end management etc. 
  

	2.1.2	The Alipay service agreed upon under Article 1.1 herein 

  

	2.1.3	Providing online inquiry services 

 Party B shall provide Party A with an online inquiry
function for transaction information and services for managing and inquiring information as to Alipay membership number. These services shall be accessible for inquiries by Party A twenty-four hours a day. Related transaction dates and transaction
amounts can be accessed through this inquiry service. 
 Article 3 Rights and obligations 

 

	3.1	Rights and obligations of Party A 

  

	3.1.1	Party A shall ensure it has the authorization, license, approval and qualifications to operate, sign and perform the agreement. Party A shall provide Party B with information such as identity and business information
(including, but not limited to, all the business licenses and administrative examination and approval documents required by Party A). In case of any change of the above information, Party A shall promptly submit to Party B the information after the
change. Before verifying the modified information, Party B may completely act on the information prior to the modification, and all risks arising therefrom shall be borne by Party A. Party A shall bear all risks and liabilities arising from
mistakenly sending, blurry, inaccuracy, inauthenticity, untimeliness and incompleteness of the above-mentioned information. 

  

	3.1.2	Party A shall bear such responsibilities as complaints, returns, disputes and penalties etc. arising from Party A’s breach of contract and tort or (including false, outdated and
non-detailed transaction information of Party A). Should any loss be caused to Party B, Party B shall have the right to recover losses from Party A, and shall have the right to prematurely terminate or suspend
all or part of the agreements signed by both Parties. 

  

	3.1.3	Party A shall truthfully describe Alipay services to users. Part A shall accurately guide its users to enter the Alipay software system to submit service requests. Party A shall not in the name of Party A obtain Party
B’s service for others. Without the written consent of Party B, Party A shall not use Alipay services on other websites not designated by Party A at the beginning hereof. Party A shall not, by any means, provide a third party with interface
technology, security protocols and certificates offered by Party B. 

	3.1.4	Party A shall properly keep the business license, the identity documents of the legal representative and other documentary information, Alipay membership number, password and (or) digital certificate, mobile phones
associated with Alipay membership number, interface permissions etc. Party B recognizes Party A’s identity and instructions through its Alipay membership number, password and (or) digital certificate or interface. All operations whereby all of
Party A’s Alipay membership number, password and (or) digital certificate or interface are used shall be regarded as the operation of Party A. If Party A’s Alipay account, password and (or) digital certificate are lost, disclosed or
stolen, or the interface is stolen, the losses caused thereby shall be borne by Party A alone. The instructions of any Party A’s Alipay membership number, password and (or) digital certificate or interface sent to Party B for use shall
constitute irrevocable instructions. Party B shall not assume any responsibility for operation in accordance with instructions and the consequences. 

  

	3.1.5	With the consent of Party A, Party B has the right to offer relevant information to its cooperative banks and government regulatory departments for verification in accordance with laws, regulations, and basic
requirements of government regulatory departments and/or Party B’s necessary cooperation with banks for achieving the Alipay service. The specific information in need of verification is subject to the requirements of Party B’s cooperative
banks and government regulatory departments. 

  

	3.1.6	Party A shall make an effective connection with the Alipay software system provided by Party B to identify software programs for various payment transaction status information in the Alipay software system, to ensure
that the transaction process can be completed. The software programs include but shall not be limited to order processing, receipt confirmation or service provision. 

 

	3.1.7	Party A covenants that the transactions between Party A and users as well as its use of the Alipay service shall comply with laws and regulations as well as regulatory documents. Party A shall accept and comply with the
“Alipay service agreement” posted on Party B’s websites and relevant management rules and relevant operating provisions. 

  

	3.1.8	With the consent of Party A, if Party A’s websites (including website systems) have unsafe factors (including website loopholes, implanted trojan virus or other malware etc.) and may affect the interests of Party B
or users, Party B has the right to ask Party A to eliminate the unsafe factors. If Party A infringes upon the lawful rights and interests of Party B and its affiliated group (including but not limited to goodwill and intellectual property rights),
Party B shall have the right to request Party A to immediately stop the infringement. If Party A does not eliminate the unsafe factors and stop the infringement after receiving a notice from Party B, Party B has the right to prematurely terminate or
suspend all or part of the agreements signed by both Parties. 

  

	3.1.9	Party A shall properly keep all receipts related to transactions on Party A’s website, including but not limited to logistics delivery documents, consignee receipts, delivery addresses, consignee names, contact
information and transaction order numbers etc. 

  

	3.1.10	Party A shall not store users’ sensitive bank card information by any means, including but not limited to magnetic track information, chip information, verification code, period of validity and password of bank
card, or Party B has the right to prematurely terminate or suspend all or part of the agreement signed by both Parties. 

	3.1.11	During the valid term of this agreement and within two years after the expiration of this agreement, if bank card holders or Alipay account/membership number holders dispute transactions as non-authorized, Party A shall provide relevant transaction receipts referred to under article 3.9.1 herein within five working days after receiving a notice from Party B at Party B’s request. If Party A fails
to or is not willing to provide the above-mentioned receipt within the specified time limit, or the provided receipts are identified by the cooperative banks, the judiciary or a third-party accreditation body as false or invalid, or upon receipt of
Party B’s notice that it has not timely stopped suspicious transactions and controlled the corresponding funds, causing losses to Party B, Party A shall be liable to Party B for the damages. 

 

	3.1.12	When Party A is in the process of using shortcut payment services, if Party B requests (including by written notice, mail notice and regular rules announced by Party B etc.) that Party A must have two different Alipay
membership numbers in the sales of real and virtual commodities, Party A shall ensure that the intended goods services are consistent with the actual situations, otherwise the consequences shall be borne by Party A alone. Party B has the right to
prematurely suspend or terminate all or part of the agreement signed by both Parties. Party A shall be liable for all losses caused to Party B (including but not limited to economic losses, loss of goodwill, and compensation to any third party or
administrative penalty). 

  

	3.1.13	Party A shall agree that Party B has the right, on basis of any requirement from cooperative banks, relevant regulatory authorities and judicial organs or the needs of risk prevention, to terminate or suspend its Alipay
services made available to Party A or adjust the payment limit or delay funding settlement, but Party B shall promptly notify Party A. 

  

	3.1.14	Party A shall carry out safety cooperation with Party B within a reasonable period after the service has commenced. The details shall be agreed upon by both Parties. Party A has the obligation to take measures to
prevent and safeguard against disposal of stolen goods and risks of third party fraud, including but not limited to that Party A shall analyze and monitor abnormal transactions, cooperate with Party B in investigating transactions and provide
relevant transaction information according to Party B’s requirements. 

  

	3.1.15	When Party A receives feedback that instructions are being processed by Party B’s software system, unless Party B’s software system gives clear feedback as to the success or failure of the instruction
processing, Party A shall re-confirm the status of the batch processing instruction through the inquiry system provided by Party B to decide whether to re-send the
instructions or not. If Party A fails to operate in accordance with the provisions of this article, all losses, claims and complaints arising from the excess payment or repeated withdrawal and deduction shall be borne and resolved by Party A, and
Party B shall not assume any responsibility therefor. 

  

	3.1.16	Some of the Alipay services support refund function. The specific supported service types and refund period cycle (i.e. What’s the time limit in which Party A may initiate a refund to users on the basis of the
original transaction) shall be subject to Party B’s support. Unless otherwise agreed by both Parties, when Party A is using the refund function of the interface, the software service fees collected upon the completion of the initial transaction
for the corresponding refund transaction shall not be returned. The software service fee shall not be charged upon refunding. 

  

	3.2	Party B’s rights and obligations 

  

	3.2.1	Party B shall be responsible for the construction, operation and management of the Alipay software system, ensuring to provide services for Party A in accordance with the provisions of this agreement. 

 

	3.2.2	Party B shall be responsible for accepting complaints about problems involving the Alipay software system itself and handling disputes created thereby. Party A shall not be liable for any disputes arising thereby.

  

	3.2.3	Party A shall inform Party B if Party A’s Alipay membership number, password and (or) the digital certificate are in fact disclosed or used by an unauthorized person. Party A may submit an application to Party B to
suspend the pending payments associated with Party A’s Alipay membership number within a reasonable time. If Party B fails to suspend the payment within a reasonable period upon Party A’s application and causes further loss to Party A,
Party B shall compensate Party A for the portion of its direct losses which were thus exacerbated. 

	3.2.4	Party B shall set up business consultation and contact number to answering all kinds of questions encountered in the use of the Alipay service by Party A and solve relevant problems timely in the process of reconciling
data and transferring funds. 

  

	3.2.5	Party B has the right, on basis of risk prevention, suspected fraud, cash arbitrage, money laundering, illegal financing and terrorist financing transactions etc., to timely investigate and verify, suspend (terminate)
the provision of payment channels to Party A or adjust the user payment limit, delay settlement or terminate the service and other measures. 

  

	3.2.6	Party B may suspend or terminate or change all or part of the services in accordance with the needs of the business, such as the adjustment of the funding channels. 

Article 4 Confidentiality clause 
  

	4.1	Any party (“Recipient”) shall be held accountable for keeping secret the contents of the agreement and the trade and technical secrets of the other party (“Disclosing Party”) learned from the
execution of the agreement, including but not limited to content contained in this agreement and any supplementary agreement, other documents produced during the cooperation process, the documents of the disclosing party or its affiliated companies
obtained by the recipient, registered membership information and financial information, technical information, business information and customer information, etc. The receiving party shall not disclose or in any way inform the non-contracting parties (including any employees beyond the need of authorization by both Parties) of the contents of the agreement and the trade and technical secrets of the Disclosing Party, or used for other
purposes beyond the stipulation of this agreement; except for those that are requested to disclose by laws, regulations or other administrative regulations, court, the government department or Stock Exchange and other authorities; if the disclosure
is needed for other reasons rather than the aforementioned ones, the recipient shall limit the disclosure to the minimum scope required by the order and the relevant provisions. It shall truthfully disclose and may not make false or misleading
disclosure. Unless the written and effective order of the authorities has specified the disclosed content, other contents shall be disclosed only with the consent of both Parties. In particular, Party B shall not be bound for the confidentiality
clauses of this agreement in the situation where Party B can disclose the information stipulated in the “Alipay service agreement” posted on its website. 

 

	4.2	Both parties shall take all reasonable and necessary measures to ensure that they themselves (and their employees) comply with the aforementioned agreement, so as to prevent the received data from being distributed,
disseminated, disclosed, copied, abused or known by irrelevant personnel. Both parties shall take reasonable precautions to protect confidential information, which shall be at least as material as the measures taken to protect their own confidential
information. 

  

	4.3	Without a Party’s written consent, the other Party shall not disclose the contents of the agreement as well as the content of both Parties’ current cooperation and negotiation by the convening of a press
conference or by any other means. 

	4.4	The term of confidentiality shall be valid from the date of signing this contract until three years after the expiration of the contract. Party A and Party B promise to continue to undertake the confidentiality
obligations under this article after the termination of this contract. If one party intentionally or negligently divulges the trade secrets and technical secrets and causes losses to the other party, it shall bear the liability for damages.

 Article 5 Intellectual property right 
  

	5.1.	Party B and its affiliated companies shall have all the rights of their own services and systems in this agreement. During the cooperation between the two parties, with Party B’s prior review and written approval,
Party A may use Party B’s or its obligee’s trademark, sign, product or service name, logo and other intellectual property rights on relevant websites and promotional materials for purposes of this agreement. But Party A shall not claim any
rights or any challenge, revocation, disagreement or objection to Party B’s or its obligee’s intellectual property rights. If Party A needs to use and display the trademark, sign, product or service name, logo and other intellectual
property rights of Party B or its obligee beyond the operation of this agreement, the two parties shall negotiate and sign a relevant agreement. Except for the above circumstances, in this agreement Party B has not granted to Party A a license or
transfer of any intellectual property rights explicitly or implicitly; if Party A requires the intellectual property licensing of Party B or its obligee, the license agreement and authorization documents need to be signed. If Party A uses the
intellectual property rights of Party B or its obligee without authorization of Party B, or its use violates the guidelines of Party B or its obligee causing an adverse effect, Party B has the right to request Party A to undertake remedial measures
within a specified period of time. If Party A fails to remedy before the deadline, Party B has the right to immediately terminate all agreements signed by the two sides and regard Party A’s breach of the agreement as grounds for terminating the
agreement. In case of any loss to Party B or any of its obligee, Party A shall bear the corresponding liability for compensation to Party B or its obligee. 

  

	5.2	Party A and its affiliates have all the rights of their own services and systems in this agreement. During the cooperation between the two parties, with Party A’s prior review and written approval, for purposes of
this agreement, Party B can use Party A’s corresponding intellectual property rights, including but not limited to trademarks, marks, product or service names, logos and other intellectual property rights on a sound basis. But without the
authorization of Party A, Party B shall not apply the intellectual property rights of Party A to other occasions beyond the purposes of this agreement. 

  

	5.3	Unless with other written consent of both Parties and the prior rights should belong to Party A according to the rules and regulations, Party B shall hold invention, technological improvements, products, services,
technology, information, and promotional materials, advertising design, data and other intellectual property rights derived in this agreement, including the text, software, video, pictures, the film, design, graphics, layout, design, advertising and
promotional materials, all of the data etc. produced in the performance of the obligations under this agreement. 

	5.4	Party A agrees to send advertising, marketing or promotional materials or any layout or design containing the intellectual property rights of Party B or its obligee, to Party B for its prior written approval to perform
Party A’s obligations under this agreement. The use of all of the above information is limited to the fulfilment of this agreement. Unless otherwise stated in this agreement, Party A agrees that it shall not transfer, copy, alter, change or
rewrite the approved and reviewed materials or further create derivative products without the consent of Party B. 

 Article 6 Termination
of agreement 
  

	6.1	Should any of the following circumstances occur, the non-breaching party shall have the right to terminate this agreement immediately and require the breaching party to bear
liability for breach of contract: 

  

	6.1.1	One party is in violation of this agreement and fails to fulfill relevant obligations, and still fails to correct it within seven days after receiving written notice from the other party. 

 

	6.1.2	One party is in serious breach of the agreement and the purpose of the agreement cannot be achieved. 

  

	6.2	Should any of the following circumstances occur, the agreement shall be terminated immediately, and both Parties shall not be liable for breach of contract: 

 

	6.2.1	This agreement expires and the two sides no longer renew it, or both sides agreed to prematurely terminate the agreement. 

  

	6.2.2	During the valid term of this agreement, the agreement cannot be fulfilled because of laws and regulations, decrees promulgated and altered by the competent authorities of the state. 

 

	6.2.3	During the validity of this agreement, either party notifies the other party to terminate the agreement 10 days prior to the performance of the agreement or/and the business adjustment. 

 

	6.3	Both parties shall continue to perform their rights and obligations before the termination of this agreement. 

Article 7 Exclusive liability 
  

	7.1	In order to efficiently provide services, Party B’s website, client and the Alipay software system shall from time to time be maintained and inspected. Party B will post notice of the same three days in advance.
Any service interruption or instability caused thereby is not regarded as a breach by Party B. 

  

	7.2	During the valid term of the agreement, if due to legal regulations, the decrees and policies promulgated and altered by national relevant authorities, Party B cannot provide the agreed services, such shall not be
regarded as a breach by Party B. Both parties shall change the contents of the agreement in accordance with the relevant laws and policies. If the legal compliance requirements cannot be achieved through the alteration, then proceed in accordance
with the agreement of article 6.2. 

  

	7.3	The maintenance or instability of the wired or wireless communication system and equipment in communications company, or hacker attacks, or technology adjustment or failure of the power sector, or a bank and other third
party’s reason have led to a service interruption or instability of Party B, such shall not be regarded as a breach by Party B. But Party B shall make reasonable efforts to resume normal business service as soon as possible. 

 Article 8 Force majeure 

Due to unforeseen, unavoidable and insurmountable event of force majeure, such as natural disasters (for example typhoon, flood, earthquake
etc.), war, strikes, unrest or occurrence of judicial and government restricted emergencies beyond the scope of both Parties’ reasonable control, thus either party cannot perform part or all of the obligations stipulated in this agreement. This
should be promptly notified to the other party. The party affected by force majeure shall be exempt from liability within the scope of effect of the force majeure. If the force majeure lasts for more than fifteen days, either party may notify the
other party to terminate the agreement in writing. 
 Article 9 Applicable law and dispute resolution 

 

	9.1	The validity, interpretation, modification, execution, and resolution of dispute arising from, this agreement shall be governed by the laws of the People’s Republic of China. 

 

	9.2	Any dispute arising from this agreement shall be settled through consultation between the Parties. If the negotiation does not work, the dispute shall be submitted for adjudication by the People’s Court having
jurisdiction for ruling in the place where the defendant has his domicile. 

 Article 10 Liability for breach of contract 

 

	10.1	Unless otherwise stipulated in this agreement, any party who breaches this agreement shall indemnify the other party for its direct losses, including but not limited to loss caused by an administrative penalty. Neither
party shall be liable for any consequential losses, including but not limited to personal injury, loss of profits, loss of revenue and interruption of business. 

  

	10.2	The liability for damages stipulated in this agreement which shall be borne by Party A to Party B includes that Party A shall compensate Party B for all losses caused to Party B arising from Party A’s breach of the
agreement within five working days after receiving a notice from Party B. Otherwise Party B has the right to directly deduct from the fund associated with the Alipay membership number under Party A’s name. If the balance associated with the
Alipay membership number under Party A’ name is insufficient, Party A shall, within five days (including the fifth day) wire to Party B’s reserve accounts and authorize Party B to deduct directly from the fund until software service fees
are settled. If Party A fails to settle the software service fees within five days, Party B has the right to deduct from the funds associated with all the Alipay membership numbers under Party A’s name and terminate or suspend all or part of
the agreements signed by both Parties. 

 Article 11 Complete agreement 

This agreement constitutes a complete agreement between Party A and Party B with respect to the relevant service under this agreement. This
agreement shall replace all the oral and written (mail, fax, etc.) agreements previously reached by both Parties. Any modification or supplement to this agreement shall be agreed upon in a supplementary agreement sealed by both Parties before it is
legally effective. 

 Article 12 Notification and delivery 

 

	12.1	Unless otherwise stipulated in this agreement, the notice involved in this agreement shall be written in Chinese and delivered by personal service (including express mail service), registered letter, fax or email,
Alipay in-station letter. All notices shall be sent to the contact person and at contact address at the beginning of this agreement if there is no prior written notice of change. 

 

	12.2	If any of the above information has changed, the party concerned shall notify the other party prior to the information change; otherwise the documents and materials that the other party has sent in accordance with the
information recorded in this agreement shall be valid. 

 Article 13 Transferability 

Without the prior written consent of the other party, neither party shall transfer or assign any rights and obligations under this agreement.

 Article 14 Other provisions 
  

	14.1	If Party A has a registered Alipay account prior to the effective date of this agreement, to comply with the regulator requirements, Party A agrees that, as of the effective date of this agreement, Party B has the right
to cancel Party A’s registered Alipay account with Party B and provides Party A an Alipay membership number with the same login account, password, etc. as the original Alipay account for Party A’s use of Alipay service. Party A shall
withdraw all the balance from the Alipay account per Party B’s request before Party B cancels the Alipay account. If there is still remaining balance when Party B cancels Party A’s Alipay account, Party B has the right to cash out the
balance in Party A’s account to the bank account designated by Party A for receiving payment. If there is no designated bank account for receiving payment, Party B has the right to cash out the balance to any bank account under Party A with
Party B or otherwise manage the balance. Party B can cancel Party A’s Alipay account afterwards. 

  

	14.2	If there is inconsistency between the Alipay fund collecting service agreement signed by Party A before or after the effective date of this agreement with this agreement, after the confirmation of both Parties, this
agreement shall prevail. 

  

	14.3	Party A covenants that its submitted information such as industry background, management content and Alipay service application scenario to Party B is true and effective and legally compliant. All legal responsibility
arising from Party A’s violation of this covenant shall be borne by Party A alone and Party A shall compensate for losses caused to Party B. Accordingly, Party B has the right to unilaterally terminate this agreement or cease the provision of
services for Party A agreed in this agreement. 

  

	14.4	If any provision of this agreement is declared invalid or unenforceable by a court, arbitration or other dispute resolution mechanism, such provision shall be deemed deleted from this agreement, and the other provisions
of this agreement shall remain valid. 

  

	14.5	This agreement shall come into force, after both Parties sign the agreement, once Party B activating Party A’s Alipay membership number, finishing the system set up according to this agreement and commencing the
service. The validity period is one year. This agreement will automatically renew at the end of each term for a further term of one year unless either party gives the other notice of termination by methods stipulated in this agreement one month
before the expiration of each term. 

	14.6	If Party A is a financial institution or engages in financial services and Party A has signed relevant fund collecting agreements with Party B prior to this agreement, Party A confirms and agrees that: After the
effectiveness of this agreement, the services provided under the original fund collecting agreements will be adjusted as follows: 

  

	14.6.1	No longer provide relevant payment services based on balance account (“Alipay account”). 

  

	14.6.2	Account balance will not be showed after logging to Alipay’s website. 

  

	14.6.3	Party A needs to use online banking channel or transfer to Party B’s customers’ reserve accounts to pay in advance (needs to subscribe
out-of-website fund payment service afterwards) to process the payment. 

  

	14.6.4	No longer provide interfaces for account balance inquiry, account details inquiry and account details pages inquiry. 

  

	14.6.5	No longer provide benefit sharing function. The interface for account benefit sharing will be closed. 

  

	14.6.6	If there is inconsistency in terms of the service coverage between the prior fund collecting agreement with this agreement, this agreement shall prevail. 

 

	14.7	Where Party A confirms the agreement or a supplementary agreement by entering its Alipay membership password, such conduct shall have the same legal effect as that of Party A affixing an official seal.

  

	14.8	This agreement is executed in four copies, with each Party holding two copies, having the same legal effect. 

(No text below) 
 Party A: 

Date: 
 Part B: Alipay (China) Internet Technology Co., Ltd. 

Date:EX-10.50

 Exhibit 10.50 

Collection and Payment Agency Business Cooperation Agreement 

Place of execution and performance: Xihu District, Hangzhou City 

Party A: Ganzhou Happy Life Network Microcredit Co., Ltd. 
 Legal
Representative: Luo Min     
 Contact Person (required): 

Mobile phone (required): 
 Email (required): 

Address (required): 13/15 F, No. 222, Huizhong Beili, Chaoyang District, Beijing 

Party B: Zhejiang E-Commerce Bank Co. Ltd.

 
 Legal Representative: Jing Xiandong

 
 Contact Person (required): 

Mobile phone (required): 
 Email (required):. 

Address (required): 16F, Block 1, Delixi Mansion, 28-38 Xueyuan Road, Xihu District, Hangzhou City 

In witness whereof, Party A and Party B agree as follows, on the basis of autonomy of will, equality, equity, good faith and mutual benefit, in connection
with collection and payment agency business cooperation, in accordance with the Contract Law of the People’s Republic of China and relevant laws and regulations. 

Article I    Scope of Cooperation 
  

	1.1	Collection Agency Service: 

 Collection agency service referred to herein, means the activity
that Party A requests Party B by giving a collection instruction, or authorizes Party B to deduct through Party B’s system a certain amount from Party A’s designated client account (including but not limited to any such account opened by a
client with Party A or any of Party A’s cooperative institutions that such amount may be effectively deducted from; the same applies below) and transfer such amount to Party A’s designated receiving account (hereinafter referred to as
“Party A’s Receiving Account”) [REDACTED]1 the effective deduction. Please see Exhibit 1 for details. 

 

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	1.2	Payment Agency Service: 

 Payment agency service referred to herein, means the activity that
Party A requests Party B by giving a payment instruction, or authorizes Party B to deduct and transfer, through Party B’s system, a certain amount from Party A’s designated payment account (hereinafter referred to as “Party A’s
Payment Account”, please see Exhibit 2 for details) to a designated client account. 
  

	1.3	Services Party A requests Party B to activate     (1) (2)    . 

  

	 	(1)	collection agency service; 

  

	 	(2)	payment agency service. 

  

	1.4	The service(s) hereunder shall be effected by means of     (2)    . 

  

	 	(1)	Party A’s issuance of an instruction, i.e., Party A gives a collection and/or payment instruction directly to Party B through Party B’s system. 

 

	 	(2)	Party A’s authorization, i.e., Party A authorizes Party B, or authorizes a third party to give a collection and/or payment instruction to Party B to effect such service(s). 

Article II    Instructions of Collection and Payment 

 

	2.1	Party A shall issue an instruction with a security authentication method recognized by both Party A and Party B, and such instruction as issued with such security authentication method shall be deemed as Party A’s
act in person, and no obligation shall be imposed upon Party B to further verify such instruction. 

  

	2.2	Party A shall issue to Party B an instruction in such format of data and with such method of data submission as required by Party B. 

 

	2.3	Party B shall implement Party A’s instruction based on the information set forth therein (including but not limited to the name of client, identity, designated client account and relevant amount) upon receipt of
the same (if the client account with regard to the collection or payment agency service is opened with Party B’s cooperative institution, the amount-receiving time shall be subject to such cooperative institution.) 

 

	2.4	Party A shall guarantee for the truthfulness, accuracy and completeness as well as duly authorization (if so required) of such instruction. 

 

	2.5	Party B will not examine in any way Party A’s instruction, and will not assume any liability arising from implementation of Party A’s instruction. Party B shall be indemnified in full by Party A from any
loss incurred in connection with implementation of Party A’s instruction. 

  

	2.6	This Article shall not apply in the scenario where Party B effects the service by means of Party A’s authorization, in which case, Party B shall have the right to directly effect relevant service pursuant to Party
A’s written authorization. 

  
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 Article III    Party A’s Rights and Obligations 

 

	3.1	Any dispute between Party A and any holder of a client account not arising from Party B’s fault shall be independent of the allocation of rights and obligations between Party A and Party B hereunder. Party A shall
be responsible to resolve any dispute or controversy between Party A and any holder of a client account, and Party B shall in no event be held liable therefor. 

  

	3.2	If Party A opens and maintains a settlement account with Party B for the collection and payment agency services, Party A shall warrant: (1) that Party A has obtained and completed such approvals, filings and
authorizations as necessary for opening of such settlement account, and that Party A has the right and authority to have such settlement account used for collection and payment agency service; (2) that Party A’s settlement account is
operative rather than frozen or restricted; and (3) that no encumbrance has been created or maintained upon such settlement account, including but not limited to any form of pledge. Party B shall not be held liable for any failure in
implementing any instruction in part or in whole, or collecting or paying any amount relevant to this Agreement with or from Party A’s settlement account, as a result of any inconformity of Party A’s settlement account with the said
criteria. 

  

	3.3	In terms of collection agency service, Party A shall ensure that the holder of a client account relevant to collection agency service authorizes and consents to such collection agency service conducted by Party B. Party
B shall not be held liable for any issue arising from unauthorized collection, defective authorization or other unusual circumstances, and Party A shall indemnify Party B in full amount against any loss incurred by Party B or other adverse effect,
and shall make its best effort to cooperate with Party B to eliminate such adverse effect. 

  

	3.4	Unless otherwise expressly prescribed by law, Party B shall not be held liable for any failure to implement the instruction as a result of any unusual circumstance of any client account relevant to the collection agency
service, such as insufficient balance, or a frozen or restricted account, etc.. 

  

	3.5	In terms of payment agency service, Party A shall guarantee that there is sufficient balance available in Party A’s payment account, and Party A shall be solely liable for any adverse consequence of Party B’s
failure to implement any instruction arising from insufficient balance available or other unusual circumstances of such account. Party B shall not be held liable for any failure to implement the instruction as a result of any unusual circumstance of
any client account relevant to the payment agency service, such as insufficient balance, or a frozen or restricted account, etc.. 

  
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	3.6	Party A shall guarantee for the truthfulness, legitimacy and compliance of any amount collected and paid through the agency and the purposes thereof, and shall guarantee that its applications for collection and payment
agency services comply with Renminbi settlement account, financial, tax and anti-money laundering provisions of relevant laws, regulations and regulatory requirements. Party B may at its sole discretion refuse to implement any such instruction of
Party A’s as is in breach of the foregoing or any other requirement that Party B shall comply with. Party A shall be liable for any and all losses arising from any such breach, and Party B shall have the right to claim against Party A any loss
already incurred by Party B in connection therewith. 

  

	3.7	If any client subject to collection of an amount through the agency raises any objection against Party A’s collection instruction, Party B shall notify Party A of the same by means of email using the email address
first written above herein, and Party A shall properly settle any such dispute within three (3) business days of Party B’s notice. 

  

	3.8	The services contemplated hereunder may only be used for Party A’s own purpose, and no such service may be provided or provided in a disguised form for any third party’s purpose, without Party B’s written
consent thereto. Otherwise, Party B shall have the right to terminate at any time its performance of the services hereunder for Party A. 

Article IV    Party B’s Rights and Obligations 

 

	4.1	Party B shall perform collection and payment agency services for Party A in accordance with the provisions of this Agreement, and shall be responsible to offer to Party B the technical support required for such
collection and payment agency services hereunder. 

  

	4.2	Party B shall promptly record the result of any collection or payment agency service in its system, upon completion of such service. 

 

	4.3	Party B shall not be held liable for any failure or error in collecting or paying any amount on behalf of Party A for any reason not attributable to Party B. 

 

	4.4	Party B shall have the right to examine whether Party A’s instruction is complete and correctly written, and where Party A’s instruction does not satisfy Party B’s relevant rules or comply with laws,
regulations and regulatory requirements, or is incomplete or inaccurate, Party B shall have the right to reject such instruction. 

  

	4.5	Party B shall have the right to monitor and control risk exposure of transaction fund by limiting transaction quota and/or number of transactions based on requirements of relevant regulatory authority or business
administration. 

  

	4.6	Party B shall have the right to suspend collection and/or payment agency services based on its need of system upgrade, provided that Party B shall give a prior notice to Party A, by means of telephone, short message or
email. 

  

	4.7	Party B shall have the right to examine Party A’s eligibility as an entity, credit status, status of operation etc., in various manners and from time to time, and Party A shall furnish Party B with requested
information, written description and/or other relevant documents to cooperate with Party B in its examination. 

  
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	4.8	Where any complaint arises from any deduction by mistake of an amount from any client account for collection or any delay of payment to a client account for payment, Party B shall inform relevant client of Party
A’s relevant instruction. However, Party B shall have no obligation to resolve any such dispute with any client, except in connection with any service performed in the manner of authorization by Party A. Party A shall be responsible to resolve
any dispute with client and explain to such client, and shall assume relevant liabilities. 

 Article
V    Deposit and Handling of Objection 
  

	5.1	Party A shall, within [REDACTED]2 business days following execution of this Agreement, pay to Party B’s designated account an amount equaling RMB [REDACTED]3 as the initial deposit, and Party B may perform related services upon Party A’s payment of such initial deposit. The deposit may be subsequently adjusted through negotiation between Party A and
Party B based on actual transaction volume, provided that any adjusted deposit shall not fall below the initial deposit. Interest shall accrue at the annualized rate of [REDACTED]4% upon the said
deposit. 

 Account Number: [REDACTED]5 

Account Name: [REDACTED]6 

Bank of Account Opening: [REDACTED]7 

 

	5.2	The deposit will be used for unconditional prioritized reimbursement of any damage to Party B or any client due to any breach of laws and regulations, regulatory requirements and provisions of this Agreement by Party A,
or any risk of liability before relevant regulator arising from its own business operation. 

  

	5.3	Party B may also deduct relevant amount from such special account for deposit to offset any fee payable from Party A to Party B in the case of Party A’s failure of payment of the same in accordance with the
provisions of this Agreement. 

  

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	5.4	Upon any deduction of deposit, Party A shall make up for the shortfall within [REDACTED]8 business days. Where the deposit is insufficient for deduction, Party A
shall make up for the shortfall within [REDACTED]9 business day so as Party B may deduct relevant amount timely. If the deposit is not timely replenished due to Party A’s reason, Party B
shall have the right to charge Party A a penalty at a daily rate of [REDACTED]10. 

  

	5.5	Unless otherwise specified herein, Party A shall not make any payment with, transfer or otherwise dispose of any amount of fund in the special account for deposit during the term of this Agreement, without Party
B’s written consent. No online banking or bank-corporate system integration services may be activated with the special account for deposit. Party B shall have the right to require Party A to provide other valid guaranty, if such deposit is
frozen or withdrawn by any competent authority; and if Party A fails to provide such guaranty or the guaranty provided is not recognized by Party B, Party B shall have the right to unilaterally terminate this Agreement, and Party A may not raise
objection thereto. 

 Article VI    Service Fees 

 

	6.1	Party A agrees to pay relevant fees to Party B as follows: 

  

			
	Collection Agency Service	  	RMB [REDACTED]11 each transaction
	Payment Agency Service	  	RMB [REDACTED]12 each transaction

  

	6.2	The account of fees will be settled monthly. Party A and Party B shall check with each other the account of fees for the preceding month by each [REDACTED]13 day of a
month, and upon confirmation of consistency, Party A shall make payment of such fees within [REDACTED]14 business days, and a penalty will be imposed for any delay at the daily rate of [REDACTED]15. Where there is any inconsistency between the parties’ data, Party B’s record in its system shall prevail. Party B shall issue relevant invoice for value-added tax purpose prior to Party
A’s payment. 

 Party B’s Account Information: [REDACTED]16 

Account Number: [REDACTED]17 

Account Name: [REDACTED]18 

Bank of Account Opening: [REDACTED]19 

 

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 Article VII    Force Majeure 

 

	7.1	An event of force majeure (“Force Majeure Event”) refers to any such event beyond reasonable control of, and unforeseeable or inevitable even if foreseen by Party A and/or Party B, as may obstruct,
affect or delay either party’s performance of its obligations hereunder, in whole or in part, in accordance with this Agreement. Such events include, without limitation, earthquake, typhoon, flood, fire, plague, other catastrophes, war, coup,
riot, strike or other similar occurrences. 

  

	7.2	Upon occurrence of any Force Majeure Event, a party suffering from such Force Majeure Event shall not be deemed in breach of this Agreement therefor, but such party shall notify the other party immediately and furnish
the other party with supporting documents within five (5) days, explaining details of relevant event and the reasons for any failure of performance of this Agreement, in part or in whole, or any delay thereof. The parties shall determine in
writing whether performance of this Agreement will be delayed or whether the agreement will be terminated, on the basis of unanimous agreement through negotiation. 

Article VIII    Interruption and Breakdown of Information System 

No liability shall be borne by Party B for any damages, if Party B is not able to normally perform its obligations hereunder as a result of non-operation of Party B’s related system or software under the circumstances including but not limited to: 
  

	 	(1)	Party B’s shutdown of system for maintenance or upgrade; 

  

	 	(2)	typhoon, earthquake, flood, thunderbolt, terrorist attack or other force majeure; 

  

	 	(3)	breakdown of the communication line or power supply circuit of Party A’s system; 

  

	 	(4)	virus, Trojan, malware attack, network congestion, unstable system, device or system breakdown, communication breakdown, power failure, bank’s reasons, defects in third-party’s services or act of government
etc.; and 

  

	 	(5)	other circumstances under which Party B is not able to normally perform its services for any reason not attributable to Party B. 

  
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 In the event of any information display by mistake or Party A’s unjust enrichment arising
from Party B’s system error, failure or otherwise, Party A agrees that Party B may by itself or through any third party (including but not limited to Alipay) take proper remedial measures such as correction of error, withholding and transfer of
relevant amount, suspension of service, etc.. 
 Article IX    Governing Law and Dispute Resolution 

This Agreement shall be governed by the PRC law. Any dispute arising in the course of performance of this Agreement shall be resolved through
negotiation. If any such dispute cannot be so resolved, a lawsuit may be brought before local people’s court at the place of execution of this Agreement. During the proceeding, obligations under provisions of this Agreement not involved in the
dispute shall still be performed. 
 Article X    Effectiveness of this Agreement and Miscellaneous 

 

	10.1	This Agreement shall be effective on the date on which the parties affix their common seals or special seals for contract hereon, for a term ending at March 10, 2018. 

 

	10.2	The Exhibits hereto constitute part of this Agreement and shall have the same legal effect. 

  

	10.3	Anything not covered hereby shall be otherwise determined in a written supplement agreement entered into by the parties through negotiation. Such supplement agreement shall constitute part of this Agreement, having the
same legal effect. In the event of any inconsistency between the supplement agreement and this Agreement, the supplement agreement shall prevail. 

  
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 This Agreement is executed in quadruplicate, with each party holding two copies, which shall have
the same legal effect. 
 Party A: Ganzhou Happy Life Network Microcredit Co., Ltd. 

(Seal) 
 Date: 

Party B: Zhejiang E-Commerce Bank Co. Ltd.

 
 (Please seal)
 (Seal) 

Date: March 7, 2017 

  
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 Exhibit 1    Information of Party A’s Receiving Bank Account 

Bank of Account Opening of Party A’s Receiving Bank Account: [REDACTED]20 

Account Number: [REDACTED]21 

Account Name: [REDACTED]22 

 

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 Exhibit 2    Information of Party A’s Payment Bank Account 

Bank of Account Opening of Party A’s Payment Bank Account: [REDACTED]23 

Account Number: [REDACTED]24 

Account Name: [REDACTED]25 

 

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 Exhibit 3    Power of Attorney in connection with Collection and Payment Agency Services
and Delivery of Information 
 Attn: Zhejiang E-Commerce Bank Co. Ltd.

 
 Given that our company has entered into the Collection and Payment Agency Business Cooperation Agreement with you, pursuant
to which you shall perform collection and payment agency services, our company hereby agrees that you may act to the extent of the following authorization: 
  

	1.	Our company hereby authorizes you to collect payment from client accounts on our behalf based on the information furnished to you by Chongqing Alibaba Small Loans Co., Ltd. (“CASL”), including client identity,
account information, amount to be collected, among others, and our company hereby confirms that such clients have granted duly authorization of the same; and 

  

	2.	Our company hereby authorizes you to deduct and transfer relevant amounts on behalf of our company from our receiving account and/or payment account to the client accounts furnished to you by CASL, on the basis of the
type of service set forth in the Collection and Payment Agency Business Cooperation Agreement by and between our company and you, and such amounts of payment as well as relevant information shall be given by CASL as authorized by our company.

 This Power of Attorney shall terminate along with the termination of the Jiebei Platform Online Personal Loan Program. 

The authorization is hereby granted. 
  

	
	The Principal:
	
	(Seal of Ganzhou Happy Life Network Microcredit Co., Ltd.)
	
	Date:

  
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