What type of Internet financial model does Huabei Jingdong Baitiao belong to?

What type of Internet financial model does Huabei Jingdong Baitiao belong to? Huabei Jingdong Baitiao belongs to e-commerce Consumer loan model. The e-commerce consumer loan model is the first model adopted by Internet consumer finance. It mainly refers to the model of shopping first on the e-commerce platform and then repaying the loan. This model evolved from offline credit card consumption.

Internet consumer loan operation model

Internet consumer finance refers to a model that uses the Internet and related information technology to provide consumer financial products and services. It is mainly reflected in the electronicization, informatization and networking of all aspects of traditional consumer finance activities, as well as the improvement and innovation of business processes, models and other aspects in the process.

Instalment consumer finance model, this type of model mainly uses the installment platform to meet consumer needs, that is to say, the financial management platform packages it and then packages it into specific financial products, which are then only available for investors to invest.

The p2p platform consumer finance model, this Internet consumer finance model is mainly the p2p loan model. A simple understanding is that the consumer loan project is released through the platform based on the needs of consumers, and then goes online after being reviewed by the platform. Under the project, the lender will lend funds to meet the consumer needs of the borrower, and after maturity, the consumer will repay the principal and interest to the lender.

The consumer finance model of e-commerce platforms, as you can see from the literal meaning, is mainly applicable to e-commerce platforms, such as JD.com’s Baitiao, Alibaba Group’s Huabei Installment, etc. In fact, how these operate They are all similar. For example, Huabei of Alibaba Group mainly targets products launched by merchants such as Taobao and Tmall that have opened installment services. Have you activated Baitiao Installment and online loans?

Huabei and JD Baitiao are not online loans.

Both are unlike online loans. After borrowing money, you need to repay the loan principal and interest when repaying. After customers use Huabei or Jingdong Baitiao for consumption, as long as they can repay it in full and on time within the specified repayment period, they can enjoy the interest-free period. When repaying, they only need to repay the principal, no Interest. Is Huabei also an online loan?

The application threshold for online loans is low and the disbursement speed is fast. It is a way to get money quickly. However, the high interest rates and hidden traps of online loans often make borrowers fall into a quagmire and be unable to extricate themselves. Moreover, borrowing too much from online loans can also affect your credit score. Therefore, many people become dissatisfied when talking about online loans, fearing to avoid them. The user experience of Alipay Huabei is similar to that of online loans. They borrow first and then repay. So, does Huabei count as an online loan?

1. Does Huabei count as an online loan? Ant Huabei is a consumer credit product developed by Ant Financial and is supported by consumer funds provided by Chongqing Ant Small and Micro Loan Co., Ltd. and other institutions. After users activate Huabei, they can obtain a certain consumption limit, which can be used in payment scenarios such as online shopping and scan-code payment. It is a consumption model of paying first and repaying later, so Huabei is an online loan. Moreover, Huabei has been connected to the central bank’s credit reporting system, which means that if a user fails to repay in time using Huabei, overdue records may be entered into the personal credit report.

2. The difference between Huabei and online loans

1. Loan interest After users use Huabei, if the repayment is stipulated, interest will not be charged. Overdue interest will be charged every day. Overdue fee of 0.5%. Online loans require high borrowing interest even if repaid on time, and once overdue, overdue fees are quite high. After Huabei expires, Alipay customer service may contact the customer by phone and grant a certain grace period. Online loan companies are a mixed bag, and you may encounter violent collections if you are overdue.

2. Withdrawal method: The Huabei limit is determined by the individual's credit score in Alipay. The limit can only be used for online consumption. tx is not supported.

Users cannot obtain cash. Funds applied for online loans are generally transferred directly to personal bank accounts, and borrowers can withdraw cash for use, and there are no restrictions on how the funds can be used. I hope the above information on whether Huabei counts as an online loan will be helpful to everyone. Warm reminder: Financial management is risky, so investment needs to be cautious.