Pintec 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.

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.

The purchase process is fast and straightforward. After customers complete online applications for installment loans, Pintec will conduct real-time credit assessment based on internal and external data sources for financial institutions to make final credit decisions. The whole process takes only a few minutes.

The cooperation with China Unicom has made Pintec one of the few fintech companies in China that serve the country´s three largest telecom operators at the same time. “Our knowledge in handset financing can be readily replicated in markets outside of China and better serve local customers together with local telecom operators and other potential partners,” added Dong.

Pintec is a fintech solutions provider. With its mission to “Power the Future of Finance”, Pintec aims to advance financial services by providing customized and modular fintech solutions to its financial and business partners, including point-of-sale financing solutions, personal installment loan solutions, business installment loan solutions, wealth management solutions and insurance solutions. For more information, visit www.Pintec.com