The fee charged is only the interest fee on the agreement, and no so-called application fee or handling fee will be charged.

If users need to charge for loans, it is definitely not the official loan service of Alipay. It is an online fraud in the name of misappropriation of loans.

Information supplement:

Ant's consumer finance business mainly includes two products: flower buds and borrowing buds.

First of all, we should understand the essence of flower bud and borrowing bud, which are completely different but related.

The essence of flower buds is a "credit card", which can be paid in installments or on credit, and belongs to consumer loans. The value of flower buds to ants lies in promoting commodity sales and cultivating users' habits.

Lending treasure is a cash loan product, which can be directly withdrawn according to its own quota to meet the cash demand. The core value of borrowing is to earn interest income for ants.

Wechat also has two targeted products: sub-payment and micro-loan.

Since WeChat has always followed the product principle of "restraint", especially the financial business subject to strong supervision, it is more cautious when releasing financial products.

Wechat sub-payment of standard ant flower garden started in March 2020, five years later than ants, and the progress of sub-payment was much slower.

Wechat's micro-lending and ant lending were launched at the same time, but the lending developed more rapidly, and the scale of users was much larger than that of micro-lending.

The advantages of ant lending over microfinance are mainly in two aspects: credit data and user's mind.

Because of the precipitation of flower bud data on the ant platform at the same time, for these flower bud users with certain credit records, large-scale consumption can use borrowing, plus sesame credit data, so lending has a stronger credit foundation than micro-lending.

At the same time, after Alipay users get used to using flower buds, they are more likely to accept borrowing buds, so borrowing buds has a stronger channel for users' mental cultivation and diversion than microfinance.

This is also the underlying relationship between the two products: flower buds play an auxiliary screening role for target users.

However, this does not mean that the quality of borrowing users is higher than that of borrowing users. We can compare the target user groups of borrowing users and borrowing users:

Let's look at a data first: in 20 19 years, 75% of people over 0/5 years old in China/kloc-did not have a credit card.

With the continuous growth of consumer demand, high-net-worth users have a variety of credit channels, but there are still a large number of low-net-worth users whose needs have not been met.

Therefore, Huayuan has solved this pain point and mainly meets the consumer credit needs of long-tail users. At present, Huayuan has covered Ali e-commerce and various offline scenes.

However, regarding cash loans, banks mainly serve customers with certain assets and good credit records, while Internet companies mainly serve customers without assets and credit records.

Although lending and consumption are both long-tail users of the service market, the usage scenario of lending is not limited to consumption, and lending can be withdrawn and the amount is much higher than consumption. In other words, the product attributes of cash loans determine that the user group of cash loans (loans) is worse than the user group of consumer loans (consumption) in terms of economic situation and repayment ability.