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Ant Financial’s Zhima Credit to Stop Serving Unlicensed Partners

Above, a Zhima Credit umbrella-rental stand is seen in a shopping mall in Hangzhou, Zhejiang province. Zhima Credit has announced it will temporarily cease offering services to unlicensed banks, consumer finance companies, and online microlenders as of March. Photo: VCG
Above, a Zhima Credit umbrella-rental stand is seen in a shopping mall in Hangzhou, Zhejiang province. Zhima Credit has announced it will temporarily cease offering services to unlicensed banks, consumer finance companies, and online microlenders as of March. Photo: VCG

Ant Financial Services Group’s personal credit-rating service will stop serving financial businesses that are operating without appropriate licenses, as the company continues its internal review of partners that began last year.

Zhima Credit, known in English as Sesame Credit, will temporarily cease offering services to unlicensed banks, consumer finance companies, and online microlenders as of March, a spokesperson for Ant Financial told Caixin, without specifying how long the new policy will last.

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