New feature called Weilidai allows users to borrow up to 200,000 yuan without collateral. The new lending service is operated by WeBank, an Internet bank created by Tencent and Chinese financial firms.
Tencent Holdings Ltd. plans to add a personal loan feature to its popular WeChat smartphone messaging application later this month, in the latest step in the Chinese Internet giant’s expansion in online financial services, according to people familiar with the matter. The new WeChat feature called Weilidai, which literally means “a tiny bit of loan,” allows users to borrow up to 200,000 yuan ($31,350) without guarantee or... To Read the Full Story, Subscribe or Sign In
http://www.wsj.com/articles/tencent-to-add-personal-loan-feature-to-wechat-app-1441952556
