Reserve fund is actually a derivative product bred by "borrowing" in response to changes in regulatory policies. "Borrowing" is an overdraft service launched by Alipay. The current application threshold is that the borrower's sesame score must be above 600. According to different scores, the loan amount that users can apply for ranges from 65,438+0,000 to 300,000 yuan. The longest repayment period of "borrowing" is 12 months, and the daily interest rate of borrowing is 0.045%. Here, we have to mention cash loans. Today, the development of "borrowing" is limited, largely because the state has introduced relevant policies to control and crack down on cash loans.
From 20 15 to 20 17, cash loans flourished for three years. Cash loan is similar to private loan, which has various expenses such as interest, handling fee and service fee, but it eliminates the complicated credit process and loan procedure, which makes it very convenient to borrow money. However, due to policy loopholes, problems such as unclear use of cash loans, disguised usury and illegal debt collection followed, which brought trouble to the society, but the loan companies quietly earned hundreds of millions of assets. In order to prevent this confusion, the Office of the Leading Group for Special Remediation of Internet Financial Risks and the Office of the Leading Group for Special Remediation of P2P Online Loan Risks issued and implemented the Notice on Standardizing and Rectifying Cash Loan Business (hereinafter referred to as the Notice).
By 20 18, the financing channel of the cash loan platform was completely blocked. Although Ant Financial tries its best to prove that it is not a "cash loan" product and does not meet the definition of "no scene to rely on, no designated purpose, no customer group restrictions and no mortgage" in the Notice, in essence, the "borrowed" money is still unsupervised, no designated purpose, unlimited customers and no mortgage. Of course, it is "borrowing". However, from 2065438 to June 2008, the reserve fund quietly appeared in the balance interface of users with sesame scores above 600.
As for why 500 yuan? There is no explicit limit on the amount of cash loans in the notice, but all cash loan platforms started in 500 yuan. As a tentative product, the initial amount of the reserve fund is 500 yuan, and it is understandable that it is too high or too low. In addition, as a loan product, the reserve fund itself has the value of attracting customers. Through 1 000 yuan per month, sell a good one to customers, which can be used to improve customer stickiness. By the way, Alipay is much more comfortable than WeChat in withdrawing cash. It is really convenient for users who are eager to withdraw cash to the bank card to transfer the reserve fund directly to the balance. For 500 yuan transferred to Alipay, Ant Financial can monitor the usage of this 500 yuan. It is not impossible to explore the use of customers' money through the experiment of reserve fund, get rid of the hat of "four noes" of policy, promote the continued development of cash loan business of Ant Financial, etc., adapt to the policy environment, let users be familiar with borrowing money for consumption, and then seek interest and expenses.