Connect with us

Hi, what are you looking for?

Jewish Business News


Alibaba’s Sesame Credit Revolutionizes Lending In China

alibaba + 40 thieves

The Chinese tend to save rather than spend, but Alibaba is about to change all that, for better or for worse, with an online credit rating service that will make loans more accessible to those who were previously debt-averse. Sesame Credit Management is a private credit-scoring business owned by Alibaba founder Jack Ma. The target customer, like millions of Chinese, lacks a traditional credit history. Sesame Credit management analyzes spending data and consumer activity for those who are seeking loans.

Yu Wujie, chief data scientist at Sesame Credit, said in a statement, according to the New York Times, “They may have never obtained bank loans or applied for credit cards. However, they might be active internet users who shop online a lot, e-pay their utility bills on time, have stable residential status and have been using their mobile phone numbers for a long time. We will take these and other factors into consideration when assessing consumers’ creditworthiness.”

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

China is in the midst of a transition towards a consumer demand-driven economy, and extending credit is an essential step in that direction. China currently has relatively few credit cards  in use and most of the credit information comes from banks. When evaluating a credit history, factors like online shopping choices, repayment, personal information and social media use will be taken into account.




You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.