Chinese fintech Pintec Technology Holdings Limited (PINTEC) announced on Sunday it has formed a partnership with Beibei Group, a family-focused consumer platform in China for maternal and child products, for new consumer financing. PINTEC reported it has developed the online installment payment solution for Beibei Group. The solution has been deployed by Beibei Group’s subsidiaries. PINTEC revealed:
“With the convenient and flexible installment payment options, enabled by PINTEC’s digital lending solution, consumers at Beibei Group’s platforms can buy their desired products without down payment and pay later with installments. Consumers can choose installment payments when they place their orders, or apply for credit in advance.”
While sharing more details about the partnership, PINTEC President, Zhou Jing, stated:
“E-commerce for maternal and child products is an important vertical sector for PINTEC. Our installment financing solution can provide e-commerce platforms such as Beibei Group, and their consumers, with a superior digital consumption experience. Our customizable and modular solutions can be easily and quickly adopted by our partners.”
Chen Hongli, General Manager of the Finance Business at Beibei Group, went on to add:
“Installment payments are gaining popularity among consumers. Our installment financing function, jointly launched with PINTEC, helps consumer leverage their credits to enjoy convenient shopping experience. We will work together with PINTEC to develop more consumer financing products in the future.”
