Alipay to offer loans for online shoppers
A financial affiliate of Alibaba Group Holding Ltd is launching a consumer financing service that allows shoppers to pay for online purchases the month after delivery.
Called huabei(justspend), it offers loans of 1,000 yuan ($161) to 30,000 yuan. It is intended to improve the experience of online shopping, said Ant Financial Services, the affiliate, in a statement.
Those who shop on the company’s Taobao and Tmall platforms can use the service and repay their loans by the 10th of the month following delivery.
The service is only open to a limited number of active Alipay users at this stage. Ant Financial said that the official launch has not been confirmed yet.
e loans will be provided by a unit of Ant Financial.
Actors perform the HebeiClapperOpera, a traditional Chinese opera, at China’s National Centre for the Performing Arts. The annual gala evening for traditional Chinese opera was staged to celebrate 2015.