User:Roy Deng/sandbox

Ant Check Later (product)
Ant Check Later, formerly known as Huabei (Chinese: 花呗), is an online credit payment service product by Ant Financial (known as Alipay). Customer who sign in for this services by using Alipay can get 500 - 50000 RMB credit depends on the credit status of using Alipay. Users can enjoy the service by using the credit to purchase first, then pay money afterward, experience "Buy first, check later".

On August 4, 2016, the Ant Check Later credit asset-backed securities (ABS) project was listed on the Shanghai Stock Exchange. This is the first single Internet consumer financial ABS on the Shanghai Stock Exchange.

Occasion
Ant Check Later supports many shopping occasions, including online platforms and shores. Before, Any Check Later was mostly using on Taobao. Almost all the shops on Taobao are accept this payment method.

Today, Ant Check Later service jumped out from Alipay platform and connected to many other outside 40 digital business platforms, which including Amazon and Suning; living shopping applications like Meituan and Dazhongdianping.

Credit
Based on comprehensive considerations of online shopping, payment habits, and credit risk, Ant Check Later based on a large amount of data, combined with a risk control model, to offer users a credit limit ranging from 500-50000.

The amount of Ant Check Later is granted based on the behaviors such as consumption and repayment accumulated by the user on the platform. The various behaviors of the user on the platform are dynamic and changeable, and the corresponding amount is change followed. When the user heave well within a period of time, and matching with the policy, the corresponding limit may be increased.

Repay
At the time of consumption, users can advance the credit of Ant Check Later and repay on the 9th of the following month after confirming the goods receipt. The interest-free period can be as long as 41 days. In addition to the "buy this month, pay next month, long time interest-free" consumer experience, Ant Check Later also introduced the function of pay by stages. Consumers can be repaid in 3, 6, 9 and 12 months (service fee required). Each 10th is the date of repayment. Users need to pay off the bill that have already been generated on the repayment date. On the due date, the system will automatically deduct the Alipay account balance and the debit card express payment for the unpaid part of the bill. You can also take the initiative to make repayments. If overdue, you will also be charged 0.05% of the overdue fee each day.

Digital Marketing
It marketing strategy was focus mainly on young group like University student or people who just start working in Chinese market. The slogan was call "蚂蚁花呗，年轻就是花呗，活成我想要的样子(Ant Check Later, young people should spend, be like who you want to be)". Ant Check Later is also a purchase method by using Alipay as a tool, Taobao online shopping website as the main platform.

Every year, Taobao will hold the biggest online shopping event for Chinese consumer on the day of Single Day(November 11th). During this event, Ant Check Later will offer limited chances of interest-free installment of maximum 12 months for some products as promotion.

On the event of last year, the total number of transactions of Ant Check Later reached 60.48 million, accounting for 8.5% of Alipay's overall transaction, the payment success rate was 99.99%. Data shows that in the low- and middle-income groups with an average monthly income of 1,000-yuan or less, purchase ability has been increased 50% by this service. Ant Check Later have become a booster of purchase for these groups, effectively releasing their consumption potential.