Zhima credit score

Zhima credit score



Since then, HelloBike has seen registered users increase by 70% and the number of rides per day double within two months. From within the Alipay app, Zhima Credit users can manage which businesses may see their score. Zhima Credit analyses user credit history accumulated while using services within the Alipay app and on business partner platforms, such as credit card repayments, online consumer loan repayments The eye once again. WATCH: Test-Drive Tmall’s New Car Vending Machine. The car vending machine is the latest development in a larger push for New Retail by Alibaba The new service will let Alibaba Super Members with a Zhima credit score of over 550 to order clothes without payment and try them for seven days. Zhima Credit is an opt-in feature in Alipay that analyzes a user's digital finance footprint and assess one's creditworthiness based on five gauges: identity, behavioral preferences, payback capabilities, social networks and credit history. Zhima Credit’s technology director controversially told the Chinese magazine Caixin in 2015 that buying diapers, for example, would be considered “responsible” behavior, while playing video games for hours could be counted against you. Maybe we shouldn’t be too surprised by this shapeshifting between banking and digital technology since banking has always been rooted in information. Now, the privately held Zhima is bringing in government data, like unpaid court fines, to affect that score. Shortly after Zhima Credit’s launch, the company’s technology director, Li Yingyun, told the Chinese magazine Caixin that spending behavior like buying diapers, say, could boost one’s score, while playing videogames for hours on end could lower it. the gamifying of virtually every human endeavor, itself based on the exploitation of brain chemistry (dopamine These bike-sharing services usually demand a deposit of around USD 45 before use, but Ant Financial did users a favor by striking a deal with various bike-sharing startups to wave deposits for those who meet certain Zhima Credit score criteria and who use Alipay to unlock bikes. The Zhima app somehow got away with combining your regular credit score with who your friends are and where you shop. Banks use Alibaba information to determine a client’s creditworthiness. Zhima Credit denies any government relationships The Chinese government is building a 'personal credit' rating, according to The Telegraph. In the credit score world, the term “credit” simply means your reputation as a borrower and it has to do with your history of staying on top of loans and credit cards. More frequent credit score updates and other features like identity monitoring are offered at a cost. Several other agencies immediately followed, carrying out internal product tests. The national credit system planned for 2020 will be an “ecosystem” made up of schemes of various sizes and reaches, run by cities, government 中国版クレジットスコアとして広く普及している「芝麻信用」についての概要と仕組みについての情報です。個人の信用力をスコア化するサービスについて初歩的な知識を得たい方におすすめの記事です。May 14, 2018 · I think my Klout score helped me get my first job working with Nicholas Kristof. enable Zhima Credit, a credit rating service, to convert individual users’ credit information into scores and supply them to various institutions. 蚂蚁金服入股并主导成立了国内首批民营银行之一的浙江网商银行(以下称网商银行)。网商银行是经中国银监会批准设立的股份制商业银行,纯互联网运营,于2015年6月25日正式开业。Rongcheng is a microcosm of what is to come. Of the eight registries, Zhima Credit and Koala Credit (Kaolazhengxin) set the pace by launching the “Zhima Score” and the “Koala Score,” respectively, in early May 2015. Zhima Credit's technology officer, Li Yingyun, told author Rachel Sesame Street's 48th season premiered on HBO on November 18, 2017, and premiered on August 6, 2018 on PBS. Only Alipay users with Zhima Credit score above 700 may buy the ¥50,000 tier. Some are more objective than others. The update came after more than 80% of users scored 600 or above, which indicates low credit risk. Zhima Credit — which launched in 2015 and is also known as “Sesame Credit” — gives consumers a rating based on their data from Alipay and other partner platforms; this rating reflects everything from which friends the user has to how quickly they pay their debts. The higher the score, the more creditworthy this person is deemed. 2% in 2012. "It uses big data to conduct an objective assessment. S. Dec 15, 2017 · According to Xinhua, the state news agency, this union of big tech and big government has helped courts punish more than 1. Alipay also offers users with a Zhima Credit score 600 and above short-term financing ranging from 1,000 to 300,000 yuan ($147 to $44,035). Test drives cost RMB99 (US$16) or RMB198, depending on the model, but Alibaba Super Members, or customers with a Zhima credit score exceeding 700, do not need to pay. Because it is reported that the corporation with Zhima Credit score has also been terminated, I would like to know is there any update on this? And how will this affect your credit risk management Jul 29, 2018 · Ant's Mr. Zhima Credit data can be used when accessing financial services, including home loans, with a high score entitling the individual to preferential treatment and other rewards on Alibaba’s services. | Source. Zhima Credit's technology director controversially told the Chinese Jan 4, 2018 A Chinese credit-scoring company has admitted it was “stupid” after it was accused of misleading users into disclosing private information. Ant Financial officially lists five broad categories of information that feed into the score, but the company provides only the barest of details about how these ingredients are cooked together. HYPEBEAST, 'Black Mirror''s Nosedive episode seems to be coming true in China. Jul 27, 2015 · Sesame Credit is a scoring system that generates individual credit scores for consumers by tapping into Alibaba Group and Ant Financial’s vast online ecosystem and other personal credit Dec 19, 2017 · - A story in Wired magazine reports on Zhima Credit, a "personal credit" rating associated with Alipay - Users will be given a score between 350 (low) and 950 (high), and rewards those with "good" scores with perks and rewards. Zhima Credit users with over 680 points can enjoy deposit-free, three-month rentals at a price ranging from ¥10 to 200 (around $1. . g. Users can sign up and begin with a middling score of 550 until they establish a financial record. Chen said the company now uses its Zhima Credit only for services such as waiving deposits for bicycle rentals for people with high scores. The monthly growth rate reached 12. The data-collecting powers of Alipay are used to calculate a credit score for its users through another app called Zhima Credit. Zhima Credit reminds me a lot of Nosedive. the gamifying of virtually every human endeavor, itself based on the exploitation of brain chemistry Download Alipay and locate Zhima Credit Visit your preferred app store and download the Alipay app. Zhima is including more information to determine a user’s credit score. This service, associated with as many as 500 million Alipay users, is also used by the Chinese government, and traffic violations and criminal records are also considered in generating credit scores. Credit score meetup 1. How is Credit calculated Zhima Credit is an opt-in feature in Alipay that analyzes a user's digital finance footprint and assess one's creditworthiness based on five gauges: identity, behavioral preferences, payback capabilities, social networks and credit history. I first learned my credit score in a small, back-alley realtor office in New York City. Wired has a lengthy writeup on Zhima Credit, a project of the company Ant Financial meant to serve as a “credit system that covers the whole society. A drive by China's big technology companies to develop credit scoring platforms, originally backed by Beijing, faces growing opposition from regulators, who fear the initiatives may threaten data Chinese hoping to visit Canada will be able to use Zhima credit, or Sesame credit, the credit-assessment service developed and operated by Ant Financial. " Just as an example, one of the elements that contributes to a Sesame Credit score is your "Connections", meaning the Sesame Credit score of those in your network, birds of a feather being, presumably, the underlying principle. This is, as Pasquale points out in his book The Black Box Society, essentially a “one-way mirror. Hu Tao General Manager, Zhima Credit, a subsidiary of Ant Financial Services Group Sesame Credit gives users a score based on five dimensions of information: personal information, payment ability, credit history, social networks and behaviors. The service tracks your behavior on the app to arrive at a score between 350 and 950, and offers perks and rewards to those with good scores. 7 percent. The season continues applying its kindness curriculum to new material, as this season adds aAmerica invented the three-digit credit score. Its consumer finance system takes full advantages of the large amount of data which is George Orwell’s 1984, Black Mirror S03E01, Psycho Pass, The Orville and many others have all theorised how technology can make our lives better… or worse. With a higher sesame score, you could enjoy more privilege and benefits such as you could get more loan, enjoy bigger discount or buy stuff on your sesame credit. The process of introducing the credit aspect to bicycle-sharing began this year, and has created a positive effect, said Yu Fengxia, deputy director of the Information Institute of the State Information Center, at a recent forum on sharing economy Credit Credit Illustration by Jeffrey Henson Scales, photograph by Alex Maxim/All Canada Photos, via Getty Images I think my Klout score helped me get my first job working with Nicholas Kristof. First, they must have a score of over 700 with China's Zhima Credit system (which has been decried by human rights activists as a mass-surveillance and disciplinary tool) as well as being an Recently China introduced a massive society-wide system called Zhima Credit (Sesame Credit), a full-spectrum social credit system that assigns a score to citizens based on how “good” they are. This system is based on gamification , i. social credit score, Zhima Credit; Follow. where a social credit system called Zhima Credit is actively evolving through Alipay, a popular form of mobile payment in the “Zhima Credit score is devoted to creating belief in a business setting and unbiased of any government-initiated social credit score system,” the assertion reads. " Further down was a button that read, in clean white characters, "Start my credit journey. This system is based on gamification, i. The next, relatively long-term step of ZC is to create more scenarios offline and build the credit score ecosystem. Hu Tao, Zhima Credit’s general manager, paints a different picture now. The season was preceded the week prior with the prime-time special, The Magical Wand Chase. Alipay has updated its report landing page so that users now have to actively elect to display their Zhima Credit scores. The call also received a warm response from e-commerce giant Alibaba, which is headquartered in Hangzhou. But a nightmare that may be coming true — at least in China, where a social credit system called Zhima Credit is actively evolving through Alipay, a popular form of mobile payment in the country. America invented the three-digit credit score. "In exchange for this vetting, Shenzhou Zuche shares data, so that if a Zhima Credit user crashes one of the rental company’s cars and refuses to pay up, that detail is fed back into his or her credit score. “Zhima Credit is dedicated to creating trust in a commercial setting and independent of any government-initiated social credit system,” the company said in a statement. But some industry players are doubtful whether the credit rating system would impose sufficient safeguards as a good credit score from fintech players like Zhima Credit does not necessarily Since 2014, the Chinese government has been building a “social credit system” that tracks individual behaviors, and Zhima Credit — also known as “Sesame Credit” — was one of the first Zhima Credit’s technology director controversially told the Chinese magazine Caixin in 2015 that buying diapers, for example, would be considered “responsible” behavior, while playing video games for hours could be counted against you. Beyond your credit score, Zhima Credit tracks a very wide range of a user’s online activity, and social credit score, Zhima Credit; Follow. For instance, Markdown is designed to be easier to write and read for text documents and you could write a loop in Pug. What is Sesame Credit (Zhima Credit)? Sesame Credit (Zhima Credit) is an independent third-party credit check company run by Ant Financial. the gamifying of virtually every human endeavor, itself based on the exploitation of brain chemistry A credit score is a number, based on an analysis of a person’s credit file, to represent the creditworthiness of an individual. A Sesame Credit score on my WeChat Moments feed. Ant Financial, Alibaba’s finance arm, has begun beta-testing the long-awaited Sesame Credit (‘Zhima Xinyong’ in Chinese), the user data-based online credit scoring service. Now companies in China are taking the idea to the extreme, using big data to track and rank what you do—your purchases, your pastimes, your mistakes. S. K. " He tapped. ” “Zhima Credit is the embodiment of personal credit,” reads the signup text. Because it is reported that the corporation with Zhima Credit score has also been terminated, I would like to know is there any update on this? And how will this affect your credit risk management Recently China introduced a massive society-wide system called Zhima Credit (Sesame Credit), a full-spectrum social credit system that assigns a score to citizens based on how “good” they are. Benzinga is a fast-growing Of the eight registries, Zhima Credit and Koala Credit (Kaolazhengxin) set the pace by launching the “Zhima Score” and the “Koala Score,” respectively, in early May 2015. We're also on Instagram, tumblr and g+. In China, JD. Power rests in the hands of those who have access, control, and delivery over information. The future is now. May 04, 2018 · "The algorithm behind my Zhima Credit score is a corporate secret. 芝麻信用致力于解决消费者和商家之间的信任问题,构建互信互惠的商业环境。依托大数据、云计算、区块链等创新技术,连接商业、民生等多维场景,为消费者提供普惠平等的信用服务,比如免押金租、信用签证、极速理赔等,提升信用带来的幸福感。 Download Alipay and locate Zhima Credit Visit your preferred app store and download the Alipay app. 21 million defaulters, who opened their Zhima Credit one day to find their scores plunging. cn. Apr 27, 2018 One of the most prominent kinds of “social credit score” in China is that issued by Zhima Credit (sometimes translated as Sesame Credit), Jun 18, 2018 The system resembles an American credit score, but more than just low Those authorizing Alipay's service are given a Zhima credit score. Their affiliate company, Ant Financial, have created a service known as Zhima Credit (Or Sesame Credit). Your credit score boils down all of that information to a three-digit number. BTW, I came across trustingsocial. In 2012, when I was interviewing to work with him, he mentioned my score on the site, which rates social media Alibaba previously said that its optional credit system, Zhima (Sesame) Credit, ranked its users based on their online activities. Once you've done this, open the app and look below the four top tabs (scan, pay, collect and pocket) at the Alipay mini-apps. This impacts whether you can get a loan for a house or car or increase the credit limit on your Visa, and it affects the interest rates you’re offered on loans. Tongdun Within 10 seconds, 100% mobile and 100% automated The system consists of credit grade, credit profile, and electronics passport numbers, while the credit score of each company is measured from five aspects: basic information, trading behaviors, financial behaviors, commercial relations, and legal representative. Users of Zhima Credit with a score of 750 or higher can generate a free report containing their identity and financial status via Ant's Alipay mobile wallet. or the U. e. "The algorithm behind my Zhima Credit score is a corporate secret. Qudian's ability to link borrower repayment records to Zhima Credit Score gives the company risk management capability that outshines its peers, the analyst said. It uses data from Alibaba's services to compile its score. Facial recognition, social credit score systems, and tech giants are using their surveillance states to reap data, remove privacy, and suppress critical thinking skills. In a word, Sesame Credit’s essence is to build a trust system via gathering people’s financial behavior info like traditional banks do while with much more information sources. Turns Out That Texans Had No Idea No One Else Eats The Chinese government developed the social credit system with a handful of companies, including one called Ant Financial, as key players. Zhima Credit data can be used when accessing financial services, including home loans, with a high score I presented my poster at Peking University April 2018. China's sharing economy has just been taken to a whole new level by Zhima Credit of Ant Financial, Alibaba's finance arm, making it even more citizen-friendly. Zhima Credit takes a FICO score to new levels. In a thoughtful essay in WIRED, Mara Hvistendahl examines how Zhima Credit, a digital consumer lending service operated by Alibaba affiliate Ant Financial, collaborates with Alipay, the group’s The benefits of a higher Sesame Credit score go beyond brand services. the gamifying of virtually every human endeavor, itself based on the exploitation of brain chemistry Image credit to 123rf. I predict China's social credit system will most likely be a big-brother, Black-Mirror-like Dystopia, that's already given. 5-$30) per month. Credit Score Facts & Fallacies: The Truth Behind Common Myths Improve Credit Score: Tips to Fix Poor Credit & Raise Your FICO Score. Ant is an affiliate company of the Chinese Alibaba Group. g. The Chinese government developed the social credit system with a handful of companies, including one called Ant Financial, as key players. The insurance is said to cover any loss from a bank account, or third-party platform (e. Using the credit score, lenders can predict with some accuracy how likely the borrower is to repay a loan and make payments on time. You also get personalized recommendations to help you save money on credit cards, mortgages, and loans. Recently China introduced a massive society-wide system called Zhima Credit (Sesame Credit), a full-spectrum social credit system that assigns a score to citizens based on how "good" they are. ”" This is, as Pasquale points out in his book The Black Box Society, essentially a “one-way mirror. The lower your credit score, the more likely they think you are to default on a loan, make late payments or jet off to a foreign country and assume a new identity. The system resembles an American credit score, but more than just low credit limits and high interest rates, a poor Chinese social credit score can lead to bans from travel, certain schools Zhima Credit is an optional service embedded in Alipay that calculates users’ personal credit based on data such as spending history, friends on Alipay’s social network, and other types of Users of Zhima Credit with a score of 750 or higher can generate a free report containing their identity and financial status via Ant's Alipay mobile wallet. Only Alipay users with Zhima Credit score above 700 may buy the ¥50,000 tier. Users of apps that provide shared The credit score Sesame Credit gives to an individual ranges from 350 to 950. An English-language report can be Alipay also offers users with a Zhima Credit score 600 and above short-term financing ranging from 1,000 to 300,000 yuan ($147 to $44,035). the gamifying of virtually every human endeavor, itself based on the exploitation of brain chemistry Besides, the credit application is highly automated and efficient: After initial input of information, the credit score and the eligible credit line is calculated automatically, meaning 0 wait time during actual credit application. Higher balances and higher credit utilization could help explain this modest downward shift in scores. Credit Sesame believes access to personal credit information is a consumer's right. Black mirror IRL: Zhima (Sesame) credit by affiliates of Alipay It's used in dating Want to borrow something? Show me your score didn't pay bill? No degree? Cheated/failed school? spread rumours? Friends w/ low score? → Lose points Recently China introduced a massive society-wide system called Zhima Credit (Sesame Credit), a full-spectrum social credit system that assigns a score to citizens based on how “good” they are. Then your car is becoming an object like Alipay, and your license plate becoming the object like payment code. Overall your social credit score becomes a status symbol, a way of distinguishing well off citizens (those with high scores) from the ‘untouchables’ of society (those with low). Wired magazine reported that Alibaba’s affiliated credit app, Zhima Credit, is voluntary to opt into and includes language saying that it “does not share user scores or underlying data with any third party including the government without the user’s prior consent,” but even the People’s Bank has taken steps to try to slow down these The system, which would assign citizens a number-score according to trustworthiness, has been in and out of the news cycle like a loose sock since the government first officially outlined a social credit system in 2014. First your score drops. Credit Credit Illustration by Jeffrey Henson Scales, photograph …Alibaba previously said that its optional credit system, Zhima (Sesame) Credit, ranked its users based on their online activities. the short answer Sesame Credit belongs to Alibaba, a private company Zhima Credit’s technology director controversially told the Chinese magazine Caixin in 2015 that buying diapers, for example, would be considered “responsible” behavior, while playing video games for hours could be counted against you. Zhima Credit, its online credit scoring platform, has 7. In addition, with more and more users adopting Zhima Credit, the total volume of sharing economy users surged by 370 percent, compared to the beginning of 2016. *** The algorithm behind my Zhima Credit score is a corporate secret. Zhima Credit analyses user credit history accumulated while using services within the Alipay app and on business partner platforms, such as credit card repayments, online consumer loan repayments The eye once again. To address this issue, the Chinese government has resorted to various measures. The season continues applying its kindness curriculum to new material, as this season adds aA Wired report last year found that a user with a low Zhima Credit score had to pay more to rent a bicycle, hotel room or even an umbrella. Zhima Credit Services: means the services provided by Zhima Credit in relation to the credit information of a User to the Company, and the specific types of such services shall be subject to those selected by the Company in Appendix 1 hereof. In exchange for this vetting, Shenzhou Zuche shares data, so that if a Zhima Credit user crashes one of the rental company’s cars and refuses to pay up, that detail is fed back into his or her credit score. The app combines a person’s credit score (similar to what we have in the U. Zhima Credit, an app which is part of a much larger app that Chinese smartphone owners use, was first launched back in December 2017 by the Chinese government. Zhima Credit tracks bill payments, spending habits, friends' scores and other personal information to algorithmically produce an individual's score. Alibaba’s personal credit scoring service Zhima recently updated its score rating system and will soon expand its database, according to the Want China Times. A feature in Wired sheds light on a new system of 'personal credit' in China, which is linked to mobile payment platform Alipay and gives users a score between 350 and 950 based on their personal The company plans to get players to register with their ID card numbers and their Alibaba “Zhima” (Sesame) Credit accounts. In 2012, when I was interviewing to work with him, he mentioned my score on …Alibaba previously said that its optional credit system, Zhima (Sesame) Credit, ranked its users based on their online activities. Trending. The Ant Financial Service Group developed from an e-commerce platform. T hose with high Zhima Credit scores, however, had reverse fortunes: Lazarus Lui, who had a score of 722, was able to access: "favorable terms on loans and apartment rentals, as well as showcasing More and more of Baihe's 90 million clients are displaying their credit scores in their dating profiles, doing away with the idea that a credit score is a private matter. All applicants are thoroughly vetted, with a required 700-plus Zhima Credit score, Alibaba’s credit-scoring system, as well as Alibaba Super Member standing. The higher the score, the better your credit. About HTML Preprocessors. Basically, Alipay is telling you that they will use all the info they have about you to assign you a credit number. ” The score is based not only on whether you reliably pay your bills, but on factors such as how much education you’ve completed and the scores of your friends. 3. “Zhima Credit is the embodiment of personal credit,” reads the signup text. For instance, Zhima Credit, and therefore Alipay, has access to the government's blacklist called the "List of Dishonest People. The way Zhima Credit is designed, being blacklisted sends you on a rapid downward spiral. Called Zhima Credit, this app, which is part of a much larger app that Chinese smartphone users use, combines a person’s credit score (bill payments, etc. China Daily noted that 520 million people use AliPay, which means Zhima Credit has a huge user base. Ant Financial officially lists five broad categories of information that feed into the score, but the company provides only the Alibaba affiliate Ant Financial’s credit ranking system is known as Zhima or Sesame Credit, and is an independent, opt-in, private credit scoring service. Business Progress At present, Zhima Credit is not only used in Ali Group, but also used in daily life services, P2P lending and traditional financial As a result, the Chinese credit system is nowhere near as robust as that of the US, creating a problem for banks and other private lenders: without an objective score, it can be difficult to determine how trustworthy a potential borrower is. China's sharing economy has just been taken to a whole new level by Zhima Credit of Ant "Zhima Credit is the embodiment of personal credit," the text underneath read. Lenders use credit scores to determine who qualifies for a loan, at what interest rate, and what credit limits are applied. First your Sesame Credit, also known as Zhima Credit, is a private credit scoring and loyalty program system developed by Ant Financial Services Group (AFSG), an affiliate of the Chinese Alibaba Group. But Alibaba Super Members, or customers with a Zhima Credit score over 700, get their rides for free. ” Zhima Credit isn’t completely unconnected to the government’s Social Credit System – it was one of eight firms given a licence to pilot alternative credit score measures – and the blacklists are publicly available, so Zhima is able to factor the lists into its scores. Zhima Credit reminds me a lot of Nosedive. "Zhima Credit is the embodiment of personal credit," the text underneath read. Zhima Credit's technology officer, Li Yingyun, told author Rachel Sesame Street's 48th season premiered on HBO on November 18, 2017, and premiered on August 6, 2018 on PBS. Wired reported that Ant Financial operates Zhima Credit, which is integrated with AliPay. A credit score is a number, based on an analysis of a person’s credit file, to represent the creditworthiness of an individual. "Zhima Credit campaign disputes. The company plans to get players to register with their ID card numbers and their Alibaba “Zhima” (Sesame) Credit accounts. Ant Credit Pay users whose Zhima credit score exceeds 650 will be entitled to use Medical Services on Credit in Outpatient Services. Hvistendahl points out that Zhima Credit extends far beyond determining credit lines and interest rates. After snapping a selfie with the app to confirm their booking, users can book their test drive for as little as £12 - although it could be free for people with a Zhima Credit score of over 700 Baihang is backed by the National Internet Finance Association of China (NIFA), which owns 36% of Baihang, as well as by the country’s eight leading credit-rating agencies, including Tencent Credit and Ant Financial’s Zhima Credit, each of which owns 8%. It bills itself as creating a score that gives you “credit for everything in life. A Wired report last year found that a user with a low Zhima Credit score had to pay more to rent a bicycle, hotel room or even an umbrella. 05. The service allows users to rent an apartment with zero interest and zero service fees if their credit score is good enough, but it charges service fees for installment payments if their credit score is not high enough. "Ah, but you see the US has been doing this since 1989 with the FICO credit score," you might argue. 编辑于 2015-02-06. 4% in 2010 to 37. com, founded in 2013 by Nguyen Nguyen, listed as headquartered in the US. The newly launched initiative, applying to both current WeWork members and potential clients, will allow those with a credit score above 1,350 points with Zhima Credit to be eligible for a deposit reduction or a maximum deposit waiver of 100,000 yuan ($15,800) when they lease WeWork spaces, WeWork and Zhima Credit announced Monday. In March, Mobike’s competitor HelloBike rolled out its deposit-free service for users with a Zhima credit score above a certain threshold. After Beijing announced America invented the three-digit credit score. " He tapped. ) with more nuanced social data. A new app in China is now assigning users a personal credit score, and it's drawing comparisons to the season three opener of Black Mirror where an app assesses people's worth. ” If you exhibit stable spending and social habits, your score increases. TL;DR - A story in Wired magazine reports on Zhima Credit, a "personal credit" rating associated with Alipay - Users will be given a score between 350 (low) and 950 (high), and rewards those with "good" scores with perks and rewards. Facial Recognition – Facial recognition is a huge thing in China, and the Ant Financial facial recognition algorithm achieved 99% accuracy in the international face photograph database LFW, exceeding the human eye’s rate of recognition accuracy of 97. “The Zhima report is more comprehensive than the traditional bank statements and deposit certificates typically received in support of visitor visa applications. If users’ Zhima Credit exceeds 650, they can enjoy deposit exemption and pay rent monthly. Zhima Credit is an optional service embedded in Alipay that calculates users’ personal credit based on data such as spending history, friends on Alipay’s social network, and other types of consumer behavior. 2%. Zhima Credit scoring service (known as Sesame Credit outside China) is linked to Alipay and uses five categories of user data to calculate a credit score: purchases made using Alipay, personal information, timely payments on bills, timely payment on credit cards, and the number of friends on Alipay. 69 million reaching the bench mark for deposit-free services. Guaranteeing quality – Certifier Wired magazine “The algorithm behind my Zhima Credit score is a corporate secret. However, those with poor social credit scores suffer additional consequences. ”" The technology in question is called Zhima Credit, and it’s part of a much larger app that Chinese smartphone users use to make more than $5 trillion in mobile-based payments per year. Here's where the Zhima Credit score gets eerily similar to Black Mirror – the algorithm doesn't just consider whether you pay your bills on time. The creation of the Zhima Credit started in 2014 when the Chinese government estab lished the necessity of having a tracking system to rank the reputation of individuals, businesses, and officials. The score range is 350 to 390 and the higher the score, the higher the credit level [8]. com had a very different assignment for ZestFinance, using different data sources than in America. A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual. " Should the state place someone on the list, the resulting effect on the individual's Zhima and social credit scores can be devastating: their Zhima Credit score will immediately drop. 2018. Zhima’s new credit service covers shared bikes, car rental, hotels and short-term house leases. If Liu had a Zhima Credit score, his troubles would have been compounded by other worries. "The ambition of Zhima Credit …Yue said that when he checked his report, he noticed a sentence written in very small characters informing him that he had consented to having his Zhima Credit score displayed on the report. The new service will let Alibaba Super Members with a Zhima credit score of over 550 to order clothes without payment and try them for seven days. And the Chinese government has stated it would like a future social credit service 'that covers the whole society" by 2020. Each user begins with a score of 600 on a scale of 350 to 950, called “Zhima credit. See also: Getting Refined With Overall your social credit score becomes a status symbol, a way of distinguishing well off citizens (those with high scores) from the ‘untouchables’ of society (those with low). Its way more intrusive, it monitors your spending habits, who your associates/friends are and their score and your educational status and much more. Ant Financial officially lists five broad categories of information that feed into the score … A category called Connections considers the credit of my contacts in Alipay’s social network. If not, shoppers can return them free of charge. In January Ant had to apologise for having made opting in to a Zhima credit score the default setting for users who opened a report on their Alipay activity over the past year. Oct 9, 2017 Until recently, a credit-rating system for individuals was a missing piece in China's rapidly evolving financial markets. Zhima is a system based on online and offline data to generate individual credit scores for consumers and small business owners. China's sharing economy has just been taken to a whole new level by Zhima Credit of Ant According to Wired’s Mara Hvistendahl, Zhima combines the usual stuff that goes into a credit score—bill payments and the like—with more nuanced social data, like where you shop, and What makes Zhima Credit unusual is that it doesn't calculate the score solely on past saving habits and loan repayment history but also the items purchased, the education level of the account holder and even the score of his/her personal friends. ” Black Mirror's chilling social credit score is a reality in China where a social credit system called Zhima Credit is actively evolving through Alipay, a popular form of mobile payment in the Zhima credit acts much like the social credit score outlines in the government document. The aim is to create a file compiling data from public and private sources of each individual by 2020. A credit score is primarily based on a credit report information typically sourced from credit bureaus. Zhima Credit isn’t completely unconnected to the government’s Social Credit System – it was one of eight firms given a licence to pilot alternative credit score measures – and the blacklists are publicly available, so Zhima is able to factor the lists into its scores. If they decide to keep them, Tmall will automatically deduct the cost from their Alipay accounts. Alipay or WeChat Wallet Now we know why many of our credit cards issuers (e. The app also has access to your contacts, and your credit score is correlated to what company you keep. Alipay offers perks and rewards to users with high scores, just as how within the Black Mirror episode “Nosedive,” people with higher scores were able to rent nicers cars. The score range is 350 to 390 and the higher the score, the higher the credit level [8] . Contribute to zhchsf/zhima development by creating an account on GitHub. com. Alibaba-invested YCloset, a clothing and accessory rental platform offering brands like Prada, leverages on Zhima Credit (Alibaba’s Social Credit Scoring System) to waive the 300-yuan (€40) deposit if the customer has a Zhima Credit Score of over 600 points. Sesame Credit scores are calculated based on five distinctive factors, each taking into account the different types of data collected from reliable sources. The highest reduction amount will be worth 100,000 yuan ($15,812) at present. Zhima Credit, an app which is part of a much larger app that Chinese smartphone owners use, was first launched back in December 2017 by the Chinese government. Recently China introduced a massive society-wide system called Zhima Credit (Sesame Credit), a full-spectrum social credit system that assigns a score to citizens based on how “good” they are. Contribute to geophyli/zhima development by creating an account on GitHub. The eight firms are Ant Financial's Zhima Credit, Tencent, Sinoway Credit, Lakala Payment, Intellicredit, China Chengxin Credit, Pengyuan Credit Service, and Qianhai Zhengxin, a unit of Ping An Insurance. It incorporates what you buy, what college If you have registered your Alipay account, as long as your Zhima Credit Score in Alipay reaches up to 550, you can link your car license plate numbers to your Alipay account. Zhima Credit is the embodiment of personal credit … It uses big data to conduct an objective assessment. ) with more nuanced social data to score Users of Zhima Credit with a score of 750 or higher can generate a free report containing their identity and financial status via Ant's Alipay mobile wallet. ” The service tracks your behavior on the app to arrive at a score between 350 and 950 and offers A Zhima Credit Score, similar to a U. I wrote a lot, it looks like "No" is the only thing that Quora saved. But the apology and the new system have done little to ease the public’s The easiest way to wipe out credit card interest until 2020? See how this five star rated card allows you to completely wipe out credit card interest until 2020. The lowest score is 350 and the highest is 950. The current scope in China is rather more limited: Zhima Credit scores are linked to shopping patterns on Taobao, Alibaba’s online marketplace, or online payments made through Alipay, while the What makes Zhima Credit unusual is that it doesn't calculate the score solely on past saving habits and loan repayment history but also the items purchased, the education level of the account holder and even the score of his/her personal friends. ) with more nuanced social data. This is the backbone of their “Zhima Credit Score”. To discuss this, Liu Xin is joined by Yu Wujie in Hangzhou, Deputy General Manager and Chief Data Scientist of Zhima Credit; Atul Tandon in Chicago, CEO of Opportunity International; and in One possible scenario for a social credit partnership is that the central bank will oversee the development of a broader metric, like a FICO score, while letting companies like Ant Financial The algorithm behind my Zhima Credit score is a corporate secret. Race against Time and Archrival WeChat’s Tenpay. Taking into account credit history, purchases, and social network, it then assigns you a rating between 350 Zhima Credit is widely used by consumer finance companies, travel agents, hotels, vehicle leasing companies and even online dating sites. For online lending, borrower’s fraudulent risk is higher. And whether you’re looking at a FICO® or VantageScore® credit score, your scores are based on the same information: the data in your credit reports. " Further down was a button that read, in clean white characters, "Start my credit journey. Discover, Citi Cards) have been providing free FICO score updates each month. 28 million registered users in the city, with 3. To use the service, Alipay users just need to search for TaoZuGong and enter the promo code. Users can add their personal information as outpatients and borrow up to 1,000 yuan on Ant Credit Pay to cover medical fees. The algorithm notices, and your score plummets further. I know more about Zhima Credit’s algorithm than I do about how US data brokers rate me. Alibaba said users with a Zhima score below 700 will have to pay a fee . Credit rating services are essential for solving the issue of trust online and Alipay is considerably ahead of Tencent & WeChat in this area. The car vending machine is the latest development in a larger push for New Retail by Alibaba, said Gu Wanguo, general manager of vehicles at Tmall Auto. It also has Zhima Credit, or Sesame Credit, one of China's most popular platforms, which scores people depending on their use of other Ant-linked systems - in effect, their shopping habits. No credit card or subscription is required to register or obtain the credit score, which is updated monthly. Zhima credit has also sought to obtain lists of students who cheated on exams. The higher your score, the better your credit with everyone from banks to car dealers. One of the killer apps is Zhima credit. Although there are many credit scoring models, all the scores are trying to figure out the same thing — the likelihood of you paying your bill on time, or even at all. ” The score is based not only on whether you reliably pay your bills, but on factors such as how much education you’ve completed and the scores of your friends. Zhima Credit is integrated with China’s governmental blacklist, “List of Dishonest People. partnered with a competitor of Zhima Credit, working with China Apr 3, 2018 The 30-year-old company employee needs his social credit score among . cial has also developed the Zhima Credit (or Sesame Credit) personal credit scoring system. An English-language report can be Tencent Credit Score Launching Soon On WeChat & QQ Matthew Brennan August 6, 2017 Hot News , Tencent , Upgrades Today reports have started to appear across the Chinese intranet indicating that in the next few days Tencent credit ratings will be available to check directly through QQ & WeChat. Feb 20, 2018 Building the first Social Credit Scoring System: Zhima Credit The giant Chinese equivalent of Amazon is leading the race to derive an Jul 30, 2018 to develop credit scoring and lending solutions to meet this new and ever- . “Zhima Credit does not share user scores or underlying data with any third party including the government without the user’s prior consent. Users can easily see how well they have done Alipay Alipay – America invented the three-digit credit score. In determining a user's credit score Zhima uses information such as court reports default on debts, late returns of rented cars and transactions on Alipay online payment service (wantchinatimes, 2015). The Chinese app Alipay (owned by the tech company Ant Financial) includes an opt-in feature called Zhima Credit, which, according to the Wired article, "tracks your behavior on the app to arrive Alibaba's arm Zhima waives deposit for trustworthy users renting bikes, cars and short-term housing. They realised that the data-collecting powers of their leading app, Alipay, could be used to calculate a very detailed score based on an individual’s activities. 蚂蚁金融云是蚂蚁金服基于多年积累的金融级互联网技术,为金融机构提供行业云计算服务的平台。自2015年9月发布以来承担着蚂蚁技术能力对外开放的使命,至今服务了数百家客户和生态合作伙伴。Rongcheng is a microcosm of what is to come. ☒ Zhima Credit Scoring : Zhima Credit’s presentation of overall creditworthiness of a User in the form of score : RMB[REDACTED] 20 /person/month (Note: In the case of inquiries about the same User for a natural Month, only one such inquiry will be charged) The Sesame Credit system is being fueled by technological advances to grab data from all aspects of a citizen’s existence – commercial, social, emotional, political and moral – and distill this data into a single score, which becomes the basis of a hierarchical or tiered society. 30 2. At the same time, it is expected to form rental credit files of tenants, landlords and employees on Alipay’s rental platform by the end of this year. The new system is called Zhima Credit and it scores and ranks citizens based on how they interact with people. Only 20 percent of Chinese adults have a credit score, and they often are given credit through the People’s Bank of China, the nation’s central bank, and through affiliations with large state-owned corporations. But it isn’t part of an integrated system. Zhima Credit – which is associated with Alipay, the main form of mobile payment in China – will give users a score between 350 (low) and 950 (high). “It uses big data to conduct an objective assessment. This trend is echoed in score distributions nationally during 2012 as the number of people with scores between 750 and 850 dropped slightly—from 37. App Store App Store. Zhima Credit’s CEO has said, in an eerie prefiguring of the new travel restrictions, that the system “will ensure that the bad people in society don’t have a place to go, while good people can move With this cooperation, WeWork member companies can enjoy a reduction and even an exemption of the deposit for renting office spaces at WeWork, as long as the company's credit score reaches 1,350 with Zhima. A good score from the firm’s Zhima (Sesame) credit agency may allow its holder to hire a car, use a bike-sharing service or book a hotel room without paying a deposit, and let him see a doctor A good score from the firm’s Zhima (Sesame) credit agency may allow its holder to hire a car, use a bike-sharing service or book a hotel room without paying a deposit, and let him see a doctor For the more than 200 million Alipay users who have opted in to Zhima Credit, the sell is clear: Your data will magically open doors for you. At the beginning of 2018, Alipay rolled out its annual marketing campaign, which allows users to generate a vivid consumption conclusion based on their shopping behaviors of the past year. An English-language report can be submitted in lieu of bank statements to show their financial standing during visa applications. U. zhima credit score In an email to The Verge, Alibaba Recently China introduced a massive society-wide system called Zhima Credit (Sesame Credit), a full-spectrum social credit system that assigns a score to citizens based on how “good” they are. Alipay or WeChat Wallet . Alibaba's arm Zhima waives deposit for trustworthy users renting bikes, cars and short-term housing. China has developed a system known as the Zhima credit score to determine the credit worthiness of its citizens and visitors. It is available in the Lifestyle section of the Alipay app. It incorporates what you buy, what college The test drives are free, as long as customers have a very respectable credit score of 700 or above. the gamifying of virtually every human endeavor, itself based on the exploitation of brain chemistry Black Mirror's chilling social credit score is a reality in China. The higher the number, the more benefits you get. That's why we continuously provide you with both a free credit score and free credit monitoring. Above: My rather absmal Sesame Credit score. More and more of Baihe's 90 million clients are displaying their credit scores in their dating profiles, doing away with the idea that a credit score is a private matter. zhima credit scoreSesame Credit, also known as Zhima Credit, is a private credit scoring and loyalty program system developed by Ant Financial Services Group (AFSG), Dec 14, 2017 China is taking the idea of a credit score to the extreme, using big data to track and rank what It was labeled Zhima Credit (or Sesame Credit). Alibaba and Ford have unveiled a new test-drive vending machine to allow people shopping for cars to check out cars via app. The national credit system planned for 2020 will be an “ecosystem” made up of schemes of various sizes and reaches, run by cities, government 中国版クレジットスコアとして広く普及している「芝麻信用」についての概要と仕組みについての情報です。個人の信用力をスコア化するサービスについて初歩的な知識を得たい方におすすめの記事です。 I think my Klout score helped me get my first job working with Nicholas Kristof. television broadcasts are frequently interrupted with advertisements touting Zhima Credit s American cousin, the FICO Credit Score. On this basis, the user’s credit score which is called Zhima Score is divided into five levels. Sesame Credit uses the data it collects to assign a score to its users. 350〜950点May 14, 2018 · People with high Klout scores will mourn its loss when it shuts down on May 25. 芝麻信用ではアカウントごとに信用スコアが付与され、数字は. On the other hand, people with a high credit score can even skip security check lines at Beijing Airport. The Chinese government developed the social credit system with a handful of companies, including one called Ant Financial, as key players. It's how electronics and department stores can offer instant credit. 蚂蚁金服入股并主导成立了国内首批民营银行之一的浙江网商银行(以下称网商银行)。网商银行是经中国银监会批准设立的股份制商业银行,纯互联网运营,于2015年6月25日正式开业。 Rongcheng is a microcosm of what is to come. Download Alipay and locate Zhima Credit Visit your preferred app store and download the Alipay app. And in doing so, these users inadvertently authorized Zhima Credit to collect their personal information from third parties to generate a credit score and allow Alipay to access it. “Zhima Credit score doesn’t share person scores or underlying information with any third get together together with the federal government with out the person’s prior Wired has a lengthy writeup on Zhima Credit, a project of the company Ant Financial meant to serve as a “credit system that covers the whole society. Good credit will relieve you of paying deposits on bike shares, or extend perks at certain retailers. Credit score and financial history have a strong impact on successful repayment 12. ” Mara Hvistendahl , who wrote the article, had a score of 550 and had to pay a deposit of $30 to Zhima is not some benign credit rating system, its not like the credit reporting agencies we have in the west. Similar to the Black Mirror episode, higher scores allow you to do shit like Traditional credit score models are constructed with demographic characteristics, historical payment data, credit bureau data and application data. In places such as Shanghai, Hangzhou, or Wenzhou, for example, people with a credit score of respectively 600 and 500 can go to the local library and borrow books for free without paying any deposit. While the system was expected to make a full,country-wide debut in 2020, it looks On this basis, the user’s credit score which is called Zhima Score is divided into five levels. This system uses trading data from Alibaba, personal assets, academic background and other data. Zhima Credit’s CEO has said, in an eerie prefiguring of the new travel restrictions, that the system “will ensure that the bad people in society don’t have a place to go, while good people can move Alibaba's arm Zhima waives deposit for trustworthy users renting bikes, cars and short-term housing. Zhima Credit was still fairly new, and an acquaintance s low score might still be charitably explained, she said: Maybe they just haven t used it long enough. They calculate the number based on everything you do, and based too on who are your friends. In China, the government rates citizens using a social ranking system. And if you have good "social credit," the service is free. According to Wired , users start with a score of 550 when they have no transaction history, with scores ranging from 350 to 950. 大学在学中から、中国のインターネットの動向を追い続け、 Facebookグループや個人ブログで最新情報を発信。 大学 credit repayment and delinquency history • Secured by Zhima score and PBOC score • AI-optimized collection process Registration QD Score Analysis GPS ID # Phone # Address Transaction, consumption and behavioral data AI engine for collection External credit data Zhima Credit Bairong…. The national credit system planned for 2020 will be an “ecosystem” made up of schemes of various sizes and reaches, run by cities, government 個人の信用力を350〜950点でスコアリング. A Wired report last year found that a user with a low Zhima Credit score had to pay more to rent a bicycle, hotel room, or even an umbrella. An app called Zhima Credit is combining the usual stuff that goes into Customers will be able to drive the vehicles for up to three days at no cost, so as long as they have a high enough Zhima (also called "Sesame") social credit score. zhima 芝麻信用ruby sdk(非官方). Alibaba's arm Zhima waives deposit for trustworthy users renting bikes, cars and short-term housing. Users with a higher Zhima Credit score can book a hotel or hire a public bicycle without a deposit. Then your friends hear you are on the blacklist and, fearful that their scores might be affected, quietly drop you as a contact. Zhima Credit is an opt-in feature in Alipay that analyzes a user's digital finance footprint and assess one's creditworthiness based on five gauges: identity, behavioral preferences, payback It also has Zhima Credit, or Sesame Credit, one of China's most popular platforms, which scores people depending on their use of other Ant-linked systems - in effect, their shopping habits. Hu Tao, general manager of Zhima Credit, said that a deposit for office rental accounts for up to 40 percent of a company's costs at the preliminary stage, which is huge burden for SMEs. It also offers different discounts based on tenants’ credit scores. This paper takes the Ant Financial Service Group as an example and analyzes the development pattern of its consumer finance system. Zhima Credit is a “reputation rating” system. Although Zhima Credit has since said that it no longer tries to quantify users' online behaviour, the company has already given a glimpse of the massive amount of data it mines from its users. America invented the three-digit credit score. Once you've done this, open the app and look below the four top tabs (scan, pay, collect and pocket) at the Alipay mini-apps. Sesame Credit Score in Alipay Wallet App. The season continues applying its kindness curriculum to new material, as this season adds aThe algorithm behind my Zhima Credit score is a corporate secret. ” Zhima Credit appeared in the Alipay app shortly after that. HTML preprocessors can make writing HTML more powerful or convenient. The platform offers perks to users with good The Zhima Credit general manager avowed, “There should be consequences for dishonest behavior. K. The score is created by Ant Financial, an Alibaba-affiliated company that also runs Alipay, China’s popular third-party payment app with over 350 Credit Sesame is a web based freemium tool that provides consumers with a free credit score. ” . credit score, but much more in-depth, is beginning to dominate how Chinese interact with one another, and the kinds of business transactions they are able to make