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

Writing about semiconductors and telecommunications.