Ali­pay to of­fer loans for on­line shop­pers

China Daily (Canada) - - NEWSCAPSULE -

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.

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