The end of the month, the User Can Borrow Money in WeChat

Tencent Holdings Ltd. known as a manufacturer of chat applications WeChat, reportedly will bring new features to the application.

WeChat app

The Chinese company will bring in private money lending features through application WeChat by the end of this month.

Features named Weilidai which literally means ‘little loans’ is, reportedly allow users to borrow money in the amount of up to 200,000 yuan, or about 400 million without any security.

This Weilidai feature will be run by WeBank, an internet bank that was launched in January 2015 by China’s Tencent and financial companies.

Tencent itself seemed to be to make the financial system as one of the Internet-based business development. Having previously focused on the company’s online gaming service and social network.

This step alone according to the analysis a step Tencent to further expand its business line. Powered by WeChat who managed to record the number of monthly active users to 600 million.

Thus, through this feature Tencent can offer micro-loans and other financial services to individual users or small business owners who may not be the targets of traditional banks in China.

WeChat alone was seen moving more advanced than similar applications by launching many features at once. Currently, WeChat not only have the standard services of a chat application, such as text messaging and voicemail, but also others, namely social sharing features, video, and page-known brands and facilities marketplace.