Reporter | Miao Yiwei
As the self-operated consumer finance business of large financial platforms is gradually standardized and rectified, the cooperation between platform finance and bank credit card departments is quietly unfolding.
interface news reporters found that recently, , Alipay, and WeChat have begun to test the waters to open the entrance to the credit card cash withdrawal function on the platform. At the same time, the Taobao platform has also opened the interest-free installment payment entrance to credit cards. Before that, the Taobao platform Consumption installment is the exclusive territory of Huabei.
Alipay and WeChat test credit card cash withdrawal
Interface reporters found that the credit card cash withdrawal entrance is in the " borrow " section of Alipay, while WeChat is arranged in the "credit card repayment function" module. It is understood that the cash withdrawal functions of the two companies are still in a small-scale gray test stage. They only open trial entrances to very few users and only have access to a few banks. Currently, only China Everbright Bank and Ping An Bank are visible. etc.
Alipay said in this regard that it is actively communicating with various card-issuing banks about credit card cash withdrawal business, and will gradually increase the cash withdrawal business of card-issuing banks in the future.
Credit card cash withdrawal (cash advance function) is one of the important functions of the credit card itself, which is essentially different from illegal arbitrage at POS machines. However, compliant credit card cash withdrawals have great limitations and have not been widely accepted.
At present, most credit cards can only withdraw cash from ATM machines, bank counters, online banking, mobile banking APPs, etc. However, most users do not know much about this function; secondly, the cost of withdrawing cash by credit card is not low. Unlike credit card consumption, there is no interest-free period for credit card cash withdrawal. It will be billed from the same day. The handling fee is generally 2.5%, plus the annualized interest rate, which is generally 18.25%.
In addition, the credit card cash withdrawal limit is also quite limited, generally stipulated by the credit card department as 50% of the total limit.
According to Article 20 of the "Notice on Further Promoting the Standardized and Healthy Development of Credit Card Business" issued by the central bank and others in 2022, banking financial institutions should prudently set the amount and period of credit card installment overdrafts, and clarify the minimum starting amount for installment business and the maximum amount limit, etc. If the customer really needs to apply for installment repayment for the cash advance business, the amount shall not exceed 50,000 yuan or the equivalent in freely convertible currency, and the period shall not exceed two years. Wang Pengbo, senior analyst at
Broadcom Consulting, said that the new function launched by ant is essentially a loan assistance service, providing traffic and purchase channels. For Ant, on the one hand, it enriches its product system and increases product diversity. On the other hand, it also helps to increase user stickiness and increase revenue.
The analyst said that according to regulatory requirements, banking financial institutions should accept credit card applications, customer information collection, identity verification, card issuance review, contract (agreement) clause signing and other business links through self-operated channels, that is, core risk control review should It is completed by the bank, and Ant and WeChat need to do their own auxiliary work in diversion and other aspects. However, operators need to pay attention to the protection of users’ personal information and guide users to rational consumption, and clearly indicate relevant rate standards.
Open credit card interest-free installment payment portal
In addition to cash withdrawals, Jiemian News reporters also discovered that Taobao, an important affiliate of Alipay, has also opened the interest-free installment payment portal of the shopping platform to a number of bank cards.
Recently, Taobao has intensively launched interest-free installment payment methods from large banks such as China Construction Bank, China Merchants Bank , Bank of Communications, Ping An Bank, CITIC Bank , and is applicable to a wide range of products and price ranges.
Prior to this, Taobao users could also pay by credit card bound to their Alipay account, and then choose credit card installments based on their repayment ability. Nowadays, the Taobao platform has "pre-loaded the credit card installment option" in the platform payment process. After choosing to purchase goods, consumers can directly choose to use credit card installment when choosing a payment method. Repayments also only need to be made via credit card.
Currently, the credit card installments connected to the Taobao platform are mainly interest-free for 3 installments or interest-free for 6 installments. In this business model, users are interest-free and service fees are free; Taobao merchants can independently set up the interest-free installment function , and bear the service charges at the same time.
As a credit card partner, this year’s 618, China Guangfa Bank’s credit card has just been connected to the Taobao platform. Guangfa Credit Card stated that it will forward the installment business scenario to the “checkout counter” of online consumption channels, which can provide customers with more convenient services. Experience using the card. In the past, after consumers made purchases on e-commerce platforms, if they used installment services, they had to jump from the e-commerce platform to the banking system. This not only made the user experience incoherent, but also consumed users' enthusiasm for consumption, causing the customer base to drop out, and the installment service will be After the scene is "embedded" in the online shopping scene, consumers can simultaneously handle installments when making purchases, which is a key measure to enhance card usage stickiness and reduce risks.
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