Have You Finally Got Your Wallet “Cleaned Up”? A Deep-Dive into the Logic Behind Platforms Removing Monthly Payment Options
Hello everyone, I’m your financial observer. Recently, you might have seen a trending topic on Weibo: “Platforms are removing monthly payment options.”
Many people’s first reaction was, “What? Can’t I buy something and pay for it later?” or “Will my Huabei or Meituan monthly payments disappear?”
Don’t panic—it’s not that these services are gone; they’ve just been “hidden” in a more subtle and transparent way.
This change is actually due to a new regulation that the country will implement on September 30th—the “Financial Products Online Marketing Management Measures.” Today, we’ll break down this issue in simple terms, explain what it means, and how it will protect your wallet.
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Summary of the Key Points
In simple terms, the main goal of this new regulation is to completely separate the act of “paying for goods” from the act of “borrowing money to buy goods.”
Previously, when you bought something on platforms like Taobao, Meituan, or Douyin, the payment options (WeChat Pay, Alipay, Huabei installment, Meituan monthly payment) were all mixed together, often with red text tempting you to sign up for discounts. As a result, many consumers unknowingly subscribed to credit services and even forgot about repaying them.
The new regulation states that payment tools should be just that—payment tools, and credit products should be clearly labeled as such. Platforms are not allowed to mix loan products with payment options or use misleading terms like “0% interest rate” or “instant funding” to persuade people to borrow money. If platforms don’t comply by September 30th, they will face penalties.
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A Detailed Analysis of the Changes
1. Why This “Clean-Up” Suddenly? – Because People Are Worried About Being Tricked
This regulation didn’t come out of nowhere; it’s aimed at solving a real problem: consumers being inadvertently forced into loans.
A typical example mentioned in the news is a consumer who spent less than 20 yuan through a platform’s monthly payment feature between February and April. She had no idea she had subscribed to this service and only realized it when she saw the payment record.
It’s like going to the supermarket: the cashier takes your cash and secretly hands you a credit card application form, telling you “get a card and get an egg for free.” By the time you realize it, the card has been applied for and the money has been deducted.
In the past, internet platforms wanted to increase their total transaction volume (GMV) and profits, so they tried to turn every transaction into a credit transaction. Credit services generate interest income, which is more profitable than just charging transaction fees. Thus, various monthly payments and installment plans were disguised as regular payment methods.
The new regulation aims to stop this subtle trickery. It requires platforms to respect consumers’ right to know and choose; they can’t hide borrowing options under the guise of regular payments.
2. What Exactly Has Changed? – Drawing a Clear Line Between Payment and Borrowing
The “Financial Products Online Marketing Management Measures” have two key changes that affect our payment experience:
- Physical Separation: Non-bank payment institutions (like Alipay, WeChat Pay, Douyin Pay) are not allowed to include loan or asset management products in their payment options.
- In simple terms: The payment page used to have a mix of options (WeChat, Alipay, bank cards), but now it should be divided into two sections: one for “how to pay” and one for “how to borrow” (Huabei, monthly payments, installment plans).
- Clear Language: Misleading terms like “low risk,” “low threshold,” “instant funding,” “high returns,” “low interest rate,” and “no cost” are prohibited.
- In simple terms: Platforms can no longer claim “0% interest rate” or “interest-free”; they must clearly state that it’s a loan, provide information about the funding source and service provider, and even the annual interest rate.
3. How Are Platforms Responding? – Some Are Compliant, Some Are Still Hiding the Truth
Jiemian News conducted a test on September 15th-16th and found two types of responses:
Compliant Platforms (e.g., Meituan, Didi, VIP.com):
- Meituan (Xiaoxiang Supermarket): Moved the “Meituan Monthly Payment” option to a “Financial Services” section, separating it from WeChat Pay and Alipay. Although there’s still a red prompt for discounts, the locations are clearly distinguished.
- Didi: Listed “Credit Purchase” separately, indicating that the funds come from Chongqing Xianan Microfinance.
- VIP.com: Categorized “Credit Card Installment” under “Credit,” separating it from WeChat Pay and Digital Yuan.
Non-Compliant Platforms (e.g., Douyin, Taobao, DeWu):
- Douyin: The payment options (Alipay, Douyin Pay, Douyin Monthly Payment) are still mixed together.
- Taobao: Huabei Installment is still listed alongside Alipay and Digital Yuan.
- DeWu: DeWu Monthly Payment and Huabei are still listed with WeChat Pay and bank cards.
What Do Experts Think?
Experts Dong Ximiao and Wang Pengbo both noted that since the deadline of September 30th hasn’t passed, it’s normal for some platforms not to have completed the changes. However, if they still don’t comply after that date, or if the changes are insufficient (e.g., using misleading marketing language), they will face penalties.
4. Are Those “Red Texts” and “0% Interest Rates” Still Compliant? – A Gray Area
Although many platforms have separated credit products, there are still some misleading practices:
For example, Xiaoxiang Supermarket has a red line on the order submission page suggesting discounts for signing up for Meituan Monthly Payment. If you click on it and then click “Pay Now,” the system may automatically select the monthly payment option. Didi claims “0% interest rate for this month’s purchases.”
Is this compliant?
- Wang Pengbo (Botong Consulting): The page interaction generally meets the regulatory requirements, but the promised discounts need to be verified.
- Dong Ximiao (Chief Economist at Zhaolian): It generally complies, but the separation could be more obvious. He suggests renaming the “Financial Services” section to “Lending Services” to clearly indicate that it’s a loan.
A Logical Trap:
Even though the products are physically separated, if the platform uses visual design (like bright red text or default selections) to encourage you to choose the loan option, it may still violate the intention of protecting consumers’ rights. Future regulations may be more stringent in this regard.
5. What Does This Mean for Us Consumers? – More Transparency, but Greater Caution
This new regulation is good for us as consumers, but we need to adapt:
- No More Unintended Loans: You won’t be automatically subscribed to credit services. The process now requires stricter verification (real-name authentication, face recognition, reading agreements), making it harder to make mistakes.
- Clearer Decisions: You’ll know whether you’re paying or borrowing money, with clearer information about the funding source and risks, helping you make more informed decisions and avoid overborrowing.
- Fewer Disputes: Many complaints were due to consumers not realizing they were taking out loans. With the clear separation, responsibilities are clearer, making it easier to protect your rights.
What Should You Do?
- Check the Classification: Pay attention to whether the payment and credit/financial services options are separated. If not, take screenshots and report it to the platform or regulatory authorities.
- Be Alert to Default Selections: Even if the options are separated, check if the system automatically selects the monthly payment option. If you don’t want to borrow, manually switch to WeChat Pay or bank card.
- **Understand “0% Interest Rates”: Even if the platform claims a 0% rate, it’s still a loan. There may be fees or it could affect your credit score.
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Conclusion
The trend of platforms removing monthly payment options is essentially an upgrade in the protection of consumers’ financial rights.
It’s not about banning the option to buy and pay later; it’s about making the process more transparent and fair. Platforms can no longer hide borrowing options under the guise of payments to earn interest, and consumers need to become more aware of the differences between paying and borrowing.
September 30th is a critical date. If you find a platform’s payment options still mixed up, remember to take screenshots and report it. After all, your wallet should be under your clear and independent control.