Huabei and Jiebei, two micro-loaning platforms of Ant Group, have launched a quota management function to advocate rational consumption.
Users can not only actively adjust their quota on these two platforms, but also set consumption notifications. They will also receive relevant reminders once their accounts meet the quotas.
In addition, users are able to adjust the payment sequence and subscribe to their weekly consumption reports on the platforms.
Ant Group, the parent company of the two platforms, stated that this will allow users to better manage quotas as well as their consumption habits.
In Huabei, the quota is adjusted in units of 10 yuan (approximately $0.15). The minimum overdraft amount, which now can be adjusted unlimitedly, is lowered to as little as 10 yuan. Meanwhile, the Huabei excess alarm function can be set at any amount above 1 yuan, and users are able to schedule a daily or weekly reminder.
In Jiebei, the quota adjustment requires facial recognition and users are not allowed to set the quota above their credit limits.
Some netizens praised the function because it can help them manage their urge of advance consumption, while others commented that it helps them manage income and expenditures more reasonably.
Previously, in December 2020, the interest-free Huabei lowered its credit limits for some of its younger users, claiming that the adjustment was deployed out of concerns for young adults’ consumption and repayment abilities.