Rebirth: Super Banking System

Chapter 2274: Chapter 2094: Launch

Not long after.

After the chat.

Tang Qing stood up, walked to the floor-to-ceiling windows, and looked at the scenery of half of the park, taking a light sip of hot tea. Huabei, Jiebei, were launched five years ahead of schedule.

Premature?

No.

Just right.

The widespread use of mobile internet accelerated the development of e-commerce, and it was only after the credit system gradually matured and the policy opened up that such financial services emerged.

Obviously.

With his help.

4G.

Came out five years early. In the previous life, domestic 4G commercial use only started in 2013, but in this life, 4G licenses were issued two years ago.

At the same time.

Smartphones in the true sense appeared three years early, and the era of thousand-yuan smartphones came almost four years early.

Therefore.

It’s not considered premature.

...

In the future.

Ali gained an extra way to make money. At first, it won’t be much, but as the snowball gets bigger, earning three to five billion a year would be no problem.

Moreover.

This is just the domestic market.

Including overseas.

If it develops well, it could become a huge number in a year. Although hundreds of billions seem far-fetched, imagining ten or twenty billion isn’t out of the question.

Actually.

He could also do it, such as acting as the initial investor for lending institutions using a small financial services group instead of Ali’s Ant Financial.

However.

He still decided to give it up.

Firstly.

After all, he’s Ali’s major shareholder, and getting involved in everything makes it seem like he has no other ways to earn money, and secondly, he isn’t really interested.

A hundred billion.

Is it much?

And that’s in RMB.

Thirdly.

Tang Qing is actually doing it, with platforms like Xiao Xiao, WeChat, and Toutiao... Individual loans on these platforms are naturally handled by his own loan company.

It’s just that.

He doesn’t involve himself in consumer financial services like Huabei, and information is shared, for example, borrowing from Ant Financial will decrease the limit from Xiao Xiao Financial.

In short.

Everything is to avoid increasing debt.

Otherwise.

If someone borrows too much and can’t pay back, they might blame the platform for lending too much money, such situations are bound to happen.

Helplessly.

We can’t say the other party is wrong.

After all.

It’s like a piece of cake dangling in front of people, making them salivate, and when they can’t resist taking a bite, they regret it and accuse you of tempting them with food.

Strictly speaking.

It’s not wrong.

But.

One cannot negate this business behavior because of it.

Regarding this.

The only thing he can do is control the scale, mainly to solve the awkward problem of small and medium funds, and control the risks of borrowers as well as himself.

...

At this time.

Jingdong Bai Tiao is currently being prepared, and will go online in at most a month, after all, it is backed by the powerful ERV.

Money.

Is not lacking.

ERV Commercial Bank has already opened branches in Huaxia, yet is not well-known because, like other foreign banks, it has fixed deposit limitations.

Each transaction.

Fifty million RMB.

So.

General customers are out of reach. ERV holds over 40% of Jingdong’s shares, so borrowing for Jingdong is incredibly easy.

Technology.

Is not an issue either.

Uh-huh!

Good!

Tang Qing is increasingly fond of this "straddling both sides" flavor, although it might not count as such, since the groups for both sides are quite different.

Moreover.

ERV is Penguin’s major shareholder.

This time.

It has nothing to do with it, the presence of Weilidai was low even in the previous life, and in this life, WeChat has been taken over by him.

Then.

Penguin doesn’t need to meddle, its positioning is still in games, and with ERV’s game development support, Penguin can comfortably be number one in the domestic gaming industry.

...

On the thirty-first.

At dawn.

Alipay updated.

"Huabei? What is this?"

Many people were curious, clicked in, and quickly understood what it was about, "Isn’t this just a credit card, but an electronic one."

Immediately.

Many saw through the essence.

Then.

Out of curiosity.

They filled in the information according to the procedures, submitted applications, and almost instantly, their limit appeared, the speed made many exclaim in their hearts:

"So fast!"

Then.

They saw their limit.

"Five thousand?"

"Not much, is it? My credit card has a minimum of ten thousand, but then again, this is a private platform, it doesn’t have the deep pockets of a bank."

Many came up with a reason.

Because.

It’s the truth.

Then.

They explored further.

"It turns out you can increase your limit later on, not bad, quite user-friendly, although the limit isn’t high, you can spend now and repay next month, with no interest."

"Huh!"

"It also has Jiebei."

"Wow!"

"This is great, for those urgent monetary needs, it’s like timely rain, no need to ask someone to borrow and cause them inconvenience."

"Not bad."

"Unfortunately, I only have ten thousand, no worries, take it slow, the daily interest of five-thousandths is quite high, but it’s alright, unlike credit cards, which have usage restrictions."

"You can do anything with it."

Many people liked it.

After all.

Who doesn’t have moments of urgent money needs? Borrowing money? Do you not know how the lender feels? Credit cards can’t even withdraw cash.

If you want to cash out, you still have to pay a service charge.

The process is cumbersome.

Now.

With just a few taps, the money can be in your account quickly and conveniently, and five-thousandths is the maximum, and Jiebei said that if the credit is good enough.

The lowest can be two-thousandths.

That way.

It’s quite reasonable.

Not long after.

"Huh!"

"WeChat also updated."

"Ha!"

"True to form, launched cash loans just like Ali, very nice, this is much better than banks."

Everyone knows how difficult it is to borrow money from a bank.

...

Online.

"This feature is great, just in time for next month’s wages, my wallet is empty now, and I want to buy a computer, no need to wait until next month."

"Indeed, it’s very useful."

"Agree."

"The interest is also suitable, interest-free this month, and the installment interest isn’t high, compared to credit cards, it’s quite convenient and earns less than bank credit cards."

"Why?"

"Money has a cost, banks absorb deposits from depositors, and how much interest do they offer? Ali’s financing cost is at least at the commercial loan rate."

"Oh."

"Banks still earn more."

"That’s true."

"Ali only earns a small fee, and the lending threshold is much lower than credit cards. For urgent small turnovers of a few tens of thousands, it’s a big advantage."

"Yes, yes!"

"..."

A lot of praise, people didn’t think much about the risks because... the limit really isn’t much, a few thousand, who can’t pay that back?

Of course.

There are also complaints, like from the student community.

University students.

On both platforms, the Huabei limit is very fixed, only one thousand, everyone in this group is the same. To get more, they can only wait until graduation.

Regarding this.

There are many complaints.

But more are in agreement, one thousand yuan represents a month’s living expenses for the vast majority of students, any more, and it would be unmanageable.

What they didn’t know.

In fact.

Originally.

It was discussed whether to give the university students group a limit at all, not even a cent, to avoid overspending, skipping their living expenses, and facing their parents’ complaints.

But.

They still decided to give.

One thousand.

Not a penny more, this is the total limit of the two platforms. After all, university is considered as having one foot in society, with independent and autonomous thinking.

Disregarding their credit is not a good thing.