PINTEC Partners with Xueba100 on Installment Financing

Pintec Technology (NASDAQ:PT) announced a partnership with Xueba100 to develop efficient consumer financing solutions for online education.

As quoted in the text release:

Xueba100 is the one-on-one tutoring brand of Xuebajun that specializes in intelligent online education. With PINTEC’s next-generation digital credit assessment technologies, customers of Xueba100 can easily apply for installment purchases by supplying basic personal information after making a down payment, and get the result in just a few seconds.

China’s online education market is expected to reach 433 billion RMB by 2020, with the number of online education users reaching 296 million, according to an online education industry report by iiMedia Research. Statistics show these users tend to have relatively high credibility and low fraud risks, and they are increasingly willing to choose installment payment when buying highly priced courses online.

For installment financing, PINTEC has established partnerships with enterprises from various fields, including Ctrip, Qunar, Hujiang Education, Vip.com, Shefenqi and Evercare. In October 2018, PINTEC launched a new and lighter solution, enabling its partners with customized installment solutions, developed in only a few days, that connect with partners’ WeChat account or a QR code.

Click here for the full text release.