I have a shopping mall that allows installment payments. Can I connect with your loan services?

The Financial Observer Group previously reported the news that Meicai Mall (Beijing Yunshan World Information Technology Co., Ltd.) has made a big move into the consumer finance industry (recruiting more than 20 positions such as car loans, risk control, etc., Meicai.com has made a big move into the financial industry ). So far, the company has obtained financial licenses for small loans, factoring, financial leasing, etc., and it is also rumored that it will establish a consumer finance company.

However, the Financial Observation Group recently discovered that although there is no new progress in self-operated consumer finance business, Meicai Mall has already "taken the initiative" and connected to Ant Financial's Huabei, Huabei Financing and For consumer finance services such as online merchant bank loans, individual users can directly use the above three methods to pay when buying groceries.

1

Access to Huabei installment loans and online merchant bank loans, the latter will be subject to penalty interest if overdue

The financial observation group is under Alipay’s Meicai Mall mini-program. After placing the order, the displayed payment methods include recharge card or Alipay, the latter including Huabei (recommended), Yu'ebao, bank card payment, account balance and Huabei installment. Huabei installments can be paid in 3, 6 or 12 installments.

In the Meicai Mall APP, payment methods include UnionPay QuickPass, China Construction Bank, Industrial and Commercial Bank of China, WeChat Pay, and Alipay (recommended). After selecting Alipay payment, you will be redirected to the Alipay page. The payment method Added "Online Merchant Bank Loan Payment". It can be repaid in 6 installments with a 10% discount on the interest rate. The repayment date is shown as the 14th of each month. There is no handling fee for early repayment.

Obviously, this is a personal loan product launched by MYbank based on Meicai Mall. The loan payment service agreement of MYbank shows that the actual daily interest rate of this business loan is 0.0315%, which is an annualized rate of 11.4975%. When the user selects "MyBank Loan Payment" to make payment, it is deemed to have sent a loan application instruction to MYBank. MYbank will decide whether to provide loans to users based on comprehensive factors such as credit status.

The agreement shows that the overdue penalty interest rate is 50% higher than the initial daily interest rate of the above-mentioned (1) loan (i.e., the actual daily interest rate is 0.0315%, annualized 11.4975%), that is, 0.04725% per day, Annualized 17.24625%. If the user fails to use the loan for the purpose stipulated in this contract, the penalty interest rate will be 100% higher than the initial daily interest rate of the loan in item (1) above (i.e., the actual daily interest rate is 0.0315%, annualized 11.4975%), that is, 0.063% per day , annualized 22.995%.

In terms of interest items 2 and 3, MYbank also pointed out that if you fail to repay the loan principal on time (including the loan principal announced by other MYbank as all or part of early maturity), MYbank will The bank has the right to charge penalty interest based on the overdue penalty interest rate stipulated in this contract from the overdue date. For interest you fail to pay on time, compound interest will be charged based on the overdue penalty interest rate. If the loan is not used for the purpose stipulated in this contract, MYbank has the right to charge penalty interest on the misappropriated part based on the misappropriated loan penalty interest rate stipulated in this contract from the date the loan is misappropriated. If the loan is not paid on time during the misappropriation period, The interest shall be compounded based on the misappropriated loan penalty interest rate.