At noon the following day, Tianxing Credit Score and Tianxing Online Bank quietly went live under Alipay.
Each user had a backup credit limit of 10,000 yen, equivalent to 496 yuan.
Using the payment system would display recommended fonts, with a seven-day grace period for repayment without interest.
After seven days, a daily interest rate of 0.03% would be charged, with an annual rate of 11%, which is slightly more than half of Neon's legal limit of 20%.
If one chooses to verify contacts, school, work, and assets such as vehicle and property information, they could obtain loans up to 10 million yen, roughly equivalent to 500 thousand yuan.
If it is a merchant, verifying business documents and bank statements can allow online loans up to one billion yen, roughly equivalent to five million yuan.
It can be said that Tianxing Finance transplanted Ant Financial's system to Neon, upgrading it in the process.
