'WeChat Installment' is about to be launched and is currently in the small-scale grayscale internal testing stage

News from this site on September 5, according to Laser Finance, WeChat will launch a full range of consumer credit products called "WeChat Installment". The product is currently in a small-scale gray test stage and is expected to expand its user base in the second half of the year. Test scope, but the official launch time is uncertain.

It is worth mentioning that WeChat currently has a self-operated consumer financial product called “WeChat Pay”, which features no interest-free period. Daily billing is also currently in the testing stage, but many users have already obtained testing qualifications.

To put it simply, when using WeChat’s “share payment” payment, users can choose to pay first (only applicable to some consumption scenarios), and then extend the payment within the billing period or pay the bill in installments. The minimum repayment is 10% of the bill, and interest will continue to be calculated on a daily basis for the remaining balance.

This site learned from WeChat customer service that "WeChat Installment" is currently in a small-scale testing stage, and users with test qualifications will be in [Wallet] See the [Installation] entrance in the section.

WeChat customer service also reminds that there is currently no so-called paid activation for "WeChat Installment" and "WeChat Pay", and no additional handling fees will be charged to sellers. Please do not trust paid invitation activation, internal channel activation, etc. False information to avoid losses.

From the perspective of WeChat installment product functions, WeChat installment is positioned as a consumption installment product. Relying on the WeChat payment scenario, WeChat users can use it when consuming. Provide more consumption installment options.

Official information shows that users with test qualifications can choose "installment" as the payment method when making payment. After the payment is made, the payment will be made in installments according to the number of installments selected when placing the order. 1, 3, and 6 installments are supported. , 12 installments of repayment, and the installment handling fee is risk-priced based on user qualifications and the number of installments.

In contrast, the biggest difference between WeChat installment and WeChat payment is that you can actively set the number of repayment periods. At present, although WeChat Pay can also provide installment repayment services, you cannot actively choose installments, and you can achieve installments without paying off every month.

Considering that both products are currently in the testing stage and have a certain degree of overlap in functionality, we do not rule out the possibility of subsequent integration into the same service or differentiated functions.

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