The times they are a changin’ — as the People’s Bank of China has ordered local banks to stop issuing co-branded (bearing both the logo of UnionPay and a foreign card network), dual currency payment cards in mainland China, according to reports emerging this morning. The...
At least one Chinese company has paired social media with lending. Tencent evaluated 50 million Chinese consumers using what might be thought of as unconventional lending or credit scoring criteria: data gleaned from gaming and social networking use. As noted by the Financial Times on...
August 14, 2018
China’s peer-to-peer (P2P) lending crisis has caused widespread anger from citizens who are demanding that the government bail out hundreds of collapsed P2P companies. Last week, it was reported that China ordered a lockdown of Beijing’s financial district to prevent individuals from protesting a crisis in the P2P lending marketplace. According to Reuters, one protest planned […]
December 06, 2016
The times they are a changin’ — as the People’s Bank of China has ordered local banks to stop issuing co-branded (bearing both the logo of UnionPay and a foreign card...
September 01, 2015
At least one Chinese company has paired social media with lending. Tencent evaluated 50 million Chinese consumers using what might be thought of as unconventional lending or credit scoring criteria:...
