Chinese fintech Pintec Technology Holdings Limited (PINTEC) announced on Monday it has formed a new partnership with Chinese travel service provider, Caissa Travel. According to Pintec, the collaboration will bring together both companies to cooperate in consumer finance and information technology to embrace the rising demand from increasing consumption and intelligent finance.
“According to the partnership agreement, Pintec and Caissa Travel will establish a joint venture factoring company with registered capital of $50 million, which will be the partner platform for Caissa Travel’s consumer installment service. Based on big data risk control and AI technologies, and together with Pintec’s rich experience in retail finance for the travel industry, the joint venture will provide installment payment services for Caissa Travel and other third-party platforms.”
While sharing more details about the partnership, William Wei, founder and CEO of Pintec, stated:
“With years of experience in intelligent retail finance, Pintec has a deep understanding in financial business and online operations. We will enable Caissa Travel to provide diversified financial service products, seamless financing consumption, effective travel protection, and integrated online and offline experience for its customers.”
Pintec went on to add it will provide Caissa Travel with technology services for its financial service system development and operation.