China's online payment platform Alipay officially launched an online house renting service based on crediton Oct. 10, 2017 in eight domestic cities, including Shanghai, Beijing, Shenzhen, Hangzhou, Nanjing, Chengdu, Xi'an and Zhengzhou. Alipay users with a Zhima Credit of 650 or above will be eligible to rent a house without paying rent deposit. Jack Ma has made up his mind to carve a segment from the pie of real estate!
In Chengdu the terms of rental payment are very flexible, but tenants usually have had to pay one or three months' rent upfront and provide one month's rent in advance as a deposit.
But Alipay's credit-based house renting mode will have impact on the traditional deposit mode, and is expected to ease the financial pressure for those tenants who are short of cash but high in Zhima Credit. Their high credit ratings enable them to rent "0 deposit" shared bikes or houses.
Click into the Easy Rent on Alipay's house renting platform and you'll see "platform guarantees".
A platform guarantee is issued by the platform in proof of the veracity of house information oncethe property owner enters complete house information to identify an occupied or vacant house.
Now that real estate, a sector appearing to have nothing to do with an Internet firm, has been taken by Alipay. We have to acknowledge that the mobile payment is penetrating into our life in all aspects. Let’s envisage a "cashless day".
You leave home in the morning and pay for a steamed stuffed bun, a bowl of porridge and an egg with WeChat Pay at an eatery.
Then you shop for meat, oil, rice and seasonings at the food market. With a simple Alipay scan you get it done without having to count the change.
You have an appointment with a good friend to go shopping in the afternoon. It's OK if you are unwilling to take a bag. Just take your cell phone and keys and slam the door.
When it's time for home, log onto your WeChat or Alipay account to scan a shared bike. Enjoy the precious sunshine in late autumn and sweet osmanthus-scented breeze as you ride along.
When you're home, browse the shopping sites such as taobao.com and JD.com to get some new things for the house.
You feel hungry at 11:00 p.m. Why not call for a takeout? You click the cellphone app and a dozen of restaurants pop out. You choose the favorite dish and tap with a finger to place the order for home delivery. After a half-hour TV interval, the savory food is delivered.
This is the cashless day of your Chinese friend. Keep up with them! Open your mobile payment appfor a scan or swipe and make your life easier.