Smart2Pay has included Ant Financial’s Huabei credit solution to its payment methods portfolio.
The company’s payment portfolio consists of more than 200 options including Alipay, Wechat Pay, and UnionPay.
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Huabei, which literally means ‘just spend’, is virtual credit card that Ant Financial offers to its Chinese customers.
It is estimated that out of Alipay’s 900 million users in China, over half have created Huabei accounts.
The new feature will give Smart2Pay’ merchants an additional means to tap into the Chinese market.
Smart2Pay CEO James Flinterman said: “We are proud to add Huabei via Alipay to our already extensive Chinese payment methods portfolio.
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By GlobalData“We constantly improve and expand our services in direct relation to market dynamics. We are confident that, with this latest addition, our merchants and partners will successfully expand further their business in a very digitally-oriented and lucrative market like China.
Commonly perceived as a microlender, Huabei facilitates all online and offline transactions through Alipay wallet.
By setting Huabei as their default payment option, Alipay users make purchases with credit before funds are debited from their Alipay account.
The company offers an interest-free period of a maximum of 41 days.
Ant Financial launched Huabei in 2015 to enable its Alipay wallet users to fund purchases on e-commerce platforms run by its affiliate, Alibaba group, such as Tmall and Taobao.
