Hong Kong-based financial technology platform Qupital is pleased to announce that it has entered into an agreement with leading global e-commerce platform eBay as one of its officially recommended Hong Kong financing service providers. This collaboration will enable Qupital to provide quality, data-based offshore financing services to eBay sellers in Greater China via its flagship product “QiaoYiDai” and assist them in resolving their cash flow and working capital issues.
As a fintech company, Qupital believes it is critical to develop a digitalised financing solution with the interests of merchants at its core. Through the current collaboration with eBay, Qupital will harness the commercial value of its financing products and solutions to the cross-border e-commerce sector.
Utilising users data to provide a digitalised financing experience
Traditional lenders and financial institutions tend to rely heavily on financial statements and the availability of collateral in their credit assessment process. As a result, small-and-medium sized businesses have encountered considerable difficulties in obtaining financing from traditional banking channels. Determined to remove these barriers for cross-border e-commerce sellers, QiaoYiDai aims to provide a digitalised financing solution using e-commerce statistics and big data, including the credibility of their online shops, historical transaction data, rating data, refund and exchange rates of goods, among a plethora of other data points. Bolstered by its relationship with eBay, Qupital is able to obtain real-time data authorized by eBay sellers through api channels to maximise the value of the sellers’ operational data for credit control purposes. This enables the company to facilitate a fully online application experience, a credit assessment process completed on average within three working days and all drawdown requests to be settled within 24 hours.
Real time risk control system
QiaoYiDai provides an average credit limit of USD 150,000, with a maximum credit limit of up to USD 1.5 million for qualified sellers. Utilising the benefits of the aforementioned data-based credit model, Qupital is able to closely monitor real-time changes in the seller’s operational situation at key credit control stages before, during and after the provision of a loan, as well as configuring automated alerts for red flags and taking precautionary measures when adverse business trends (such as a significant decrease in sales, a surge in costs) are detected. Meanwhile, Qupital is also developing machine learning capabilities to further improve the precision of its credit decisions and to predict the future business performance of its customers. To date, Qupital’s has maintained a financing NPL ratio for its e-commerce business at a much lower rate than the industry average. “The greatest value of fintech-driven financing lies in the use of big data to improve financing efficiency, risk control, and client experience. Qupital believes that the cooperation with eBay will significantly enhance such values and benefit a large number of cross-border e-commerce merchants,” said Johnny Tang, Chief Business Officer of Qupital.
In the new era of e-commerce characterised by digitalization and intelligence, Qupital aims to empower cross-border eBay sellers with its continuously improving data-driven financing solutions that is efficient, easy-to-apply and at a lower cost.