Pintec, China Unicom's Unicompay to Expand Handset Financing

Pintec Technology Holdings Ltd. (NASDAQ: PT), an independent fintech solutions provider, recently announced an agreement with China Unicom, the company said.

As mentioned in its first nine months earnings call of 2019, Pintec will leverage its digital lending capabilities to enable China Unicom´s payment platform Unicompay to offer next-generation handset financing services to its broad base of subscribers.

Unicompay is the telecom operator´s third-party payment platform that runs “WO Wallet” and is committed to offering convenient and efficient payment solutions. As one of the largest telecom companies in China, China Unicom boasts 320 million mobile billing subscribers as of June 30, 2019.

Jointly developed with Pintec, the digital handset financing solution allows customers to buy mobile phones online and offline with zero or limited down payment, improving payment flexibility and access to financing.