China’s central bank yesterday issued a notice allowing eight Chinese private organizations, including Alibaba’s Sesame and Tencent, to prepare for the launch of their consumer credit rating services over a six-month period.

It’s no secret that Ant Financial Services Group, Alibaba’s finance arm, has been developing Sesame, a credit scoring service based on user profiles and the behavioural data Alibaba’s marketplaces have collected. Alipay, the online payment service under Ant Financial, has had more than 300 million users.

One month after the Sesame’s website went live, Tencent announced it would roll out a similar system, intending to leverage the vast amount of data generated by its 800+ million monthly users.

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com