On May 28, Tencent applied to register a trademark named Fenfu, which roughly translates into “installment payments.” Chinese media report that Fenfu will be Tencent’s equivalent to Ant Group’s Huabei, a virtual credit card service. Fenfu users will be able to borrow funds for retail transactions and pay back in installments. (Payments World, in Chinese) 

Wei Sheng

Wei Sheng is a Beijing-based reporter covering hardware, smartphone, and telecommunications, along with regulations and policies related to the China tech scene. He writes a monthly newsletter tracking...