As mobile payments become more widespread, the borrowing function has become one of the pains experienced by many. As the largest social software in the country today, we will certainly not miss this opportunity. What's the name of the loan function

What's the name of the loan function

The loan function of MSL is called MSL, a service based on sesame credit, which is designed to facilitate small cash lending by users within MSL. For the first time, the use of “micro-credit” required the user's authorization to bind his sesame credit, and the amount requested ranged from $100 to $5,000. Loan periods vary from 1 to 90 days, depending on the user's sesame credit ratings. In addition, “micro-credit” provides for both automatic and manual repayments, and users can choose according to their needs。

However, while micro-credit can address the borrowing needs of users, there are also problems behind it. First, it is open only to users who bind sesame credits, which means that the service is not available to users without a credit record or less creditworthy. Second, although the cost of the services borrowed was relatively low, in practice there were problems such as the high cost of borrowing and the penalty for arrears. Finally, there is a risk in borrowing itself that if the borrower fails to pay on time, it will affect his credit position and letters of credit and may even be prosecuted by the law. Therefore, before using micro-credit, users need to fully assess their own situation to ensure that they have the capacity to pay on time and to avoid falling into a debt trap。

In addition to micro-credit, it has attempted to develop other borrowing products. For example, in March 2018, the micro-loan service, a micro-cash loan service provided by ant gold suits, was put on line. However, problems such as high interest on “micro-loans” and the collection of arrears had led to a fall-off shortly thereafter。

In conclusion, the loan function of wi-fi is called “micro-credit”, and because of its ease and low threshold, it has become an option for many to address the issue of temporary financing. However, borrowing itself is risky and costly and cannot be relied on for long periods, and users need to use it rationally to avoid unnecessary borrowing. At the same time, we need to see that the turmoil in the market for small-scale lending services requires regulation by the regulatory authorities to benefit the general public。