PPDai.com is China’s first and leadning P2P lending marketplace.
PPDai is focused on bringing peer to peer lending to the mainland by tapping in on what will be the world’s most populous internet user base.
The way PPDai works is intuitive to people who have used an online auction. Instead of listing and bidding on items, people list and bid on loans using PPDai’s online auction platform.
PPDai users build strong, trustworthy communities, that lead to lower interest rates for borrowers, great returns for lenders, and low default rates. Since launching, PPDai has actively facilitated loans and listings continue to grow as more and more Chinese are discovering the power of social lending.
Why PPDAI It Might Be A Killer
First, Loans from family and friends are more common in China than personal loans from banks. While it faces some problems: your family lend money from you but there’s no interests at all; it is coming to return your money, but it’s embarassing to remind your friends; oh, you are too busy to remember these trivials. PPDAI will help standardize and facilitate loans between family and friend.
Second, the credit rating system in China is lacking, social pressure is extremely powerful. By leveraging social networking, PPDai has created an online community that brings borrowers and lenders together and provides them with a secure and efficient platform for conducting loans.
