Popularity of installment payments rises
Print Edition
Installment payments are helping to power China鈥檚 domestic consumption and sales of online lender LexinFintech Holdings Ltd鈥檚 installment finance platform Fenqile surged 220 percent during an e-commerce shopping festival.
Fenqile, translated as 鈥淚nstalment Pleasure鈥 in Chinese, lets consumers buy electronic equipment like mobile phones and consumer accessories such as handbags on credit and repay the loan in installments.
Sales of Shenzhen-based LexinFintech鈥檚 Fenqile surged 220 percent during the annual 618 e-commerce shopping festival on Monday, a major mid-year shopping event.
The average order amount per user on the platform during this year鈥檚 festival rose 37 percent annually from 5,024 yuan to 6,895 yuan. The number of Fenqile users who participated in this year鈥檚 618 festival doubled from last year, LexinFintech said.
The firm aims to further tap the growing trend among Chinese consumers to buy now and pay later, as the number of consumers using installment payments for e-commerce purchases in China is set to soar to 170 million this year, from 95 million last year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
