Lotte Duty Free says it is preparing for the return of Chinese travellers by introducing popular Chinese micro-loan payment service from Alibaba subsidiary, Ant Group, ‘Huabei’, on 27 October.
Huabei, one of Alibaba’s online payment platform services, has recruited 400 million Chinese users in only five years since it launched. Lotte insists that it is ‘particularly popular with young people’, with half of its users aged under 30.
The service, powered by Ant financial, will be available from Lotte Duty Free’s ecommerce site.
The micro-loan system allows customers to ‘borrow’ a small amount at first and increases the credit limit depending on whether or not it is repaid.
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