Pintec allies with Caissa Travel for intelligent consumer finance
Beijing-based Pintec Technology Holdings, a financial technology solutions provider, has announced a comprehensive strategic partnership with Caissa Travel.
They aim to cooperate in consumer finance and information technology to embrace the rising demand for increasing consumption and intelligent finance.
Under the agreement, Pintec and Caissa Travel will establish a joint venture factoring company with registered capital of US$50 million. It will be the partner platform for Caissa Travel’s consumer instalment service.
Based on big data risk control, artificial intelligence technologies as well as Pintec’s experience in retail finance for the travel industry, the joint venture will provide installment payment services for Caissa Travel and other third-party platforms.
In addition, the Nasdaq-listed fintech firm will provide the travel company with technology services for its financial service system development and operation.
Pintec founder and CEO William Wei said it would enable Caissa Travel to provide diversified financial service products, seamless financing consumption, effective travel protection, and an integrated online and offline experience for its customers.
Caissa Travel noted that commercial factoring would be complementary to its travel business.
By providing installment payment services for travel-related purchases to Caissa Travel and other consumption platforms, the joint venture will help its partners increase sales of travel products enlarge the customer base, and improve the service capability.
Data from the China Tourism Research Institute showed that overseas Chinese travelers continued to rank first in the world in 2018, with the total number reaching 140 million, a year-on-year increase of 11 million, or 13.5 percent.