or maybe it's just the case of being "late to the game", when you don't have to stick to particular technology just because there was a significant investment in its' infrastructure, but can choose whatever you want from what is available currently.

Sort of.

In Baidu's case, they're a locally grown replacement. Per the article, local credit systems didn't really take off; a researcher in the article states their belief it's due to different attitudes on debt in China.