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Ant Credit Pay for more users

ANT Financial’s virtual credit card service Huabei is eyeing to link up to 4 million online and offline merchants to help them grow businesses and attract consumers with little access to physical credit cards.

Huabei, the online credit pay service provider, started off as a complement to existing payment tools especially those with little access to financial services.

First launched in late 2014, it initially served consumers who want to pay for Taobao shopping bills but don't have credit cards or other payment methods for spending on big ticket items such as house electronics.

Some merchants also offer benefits such as zero-interest installment loans through Huabei, and the credit limits are determined by each user’s individual financial credibility.

Alipay currently connects with about 10,000 Internet service providers who help link Alipay services with merchants.

At the same time, it will also start to share risk control measures with merchants to help them eliminate fraud and or user deception, said Zou Liang, general manager of Alipay Merchant Services and Open Platform and vice president of Alipay business unit at Ant Financial.

Huabei currently covers more than 100 million Chinese Internet users with as many as 60 percent of them haven't linked their credit cards to Alipay accounts, and 47 percent of them are born after the 90s.


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