Glut of ways to pay

E-commerce is delivering myriad new options for payment and credit, shaking up the traditional credit-card industry and making it easier both for companies to assess risk and to provide credit for less-established customers

Consumer credit products are becoming increasingly popular among young Chinese, taking a large market share away from credit cards, as competition in the payment industry grows more intense.

JD.com Inc, a major Chinese e-commerce player, recently launched a personal consumer credit service called Baitiao with a maximum credit line of 15,000 yuan ($2,187). It allows the client to buy products first and then choose between delaying payments for up to 30 days and repaying in installments.