Tmall Tests Consumer Loan Service

TechWeb, 6/30/14

Alibaba Financial, operator of Chinese e-commerce conglomerate Alibaba Group's financial services arm, has partnered with the group's B2C e-commerce site Tmall to launch a consumer-facing loan service, "Tmall Installments" ("Tianmao Fenqi"). The service is akin to "JD Baitiao" offered by Beijing-based B2C e-commerce platform JD.com (Nasdaq: JD), allowing buyers to select payment by installments for purchases, as opposed to a one-time payment. After a buyer confirms receipt of goods, Alibaba Financial will pay the full purchase value to the seller, with Alibaba Financial itself receiving installed payments from the buyer.

Alibaba Financial has stated that "Tmall Installments" is currently undergoing testing on Tmall's electronics channel, and has not yet confirmed when the service will be made more widely available. The service currently offers payment in blocks of 3, 6 or 9 months, with corresponding interest rates of 0, 4.5% and 6%, respectively.

Editor's Note: For more information on this topic, please see "Jingdong to Launch OB of Consumer Loan Service," MD 2/10/14 issue.

Keywords: financial services e-commerce Internet B2C Alibaba Group Alibaba Financial Tmall

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