Taiwan is expanding its “Big Brother Pays Your Installment” program to seize 30% of Taiwan’s financial business opportunities for those who don’t have a card

Taiwan University announced today that the application scenarios of "Big Brother Pays You Installment" have been expanded. (Provided by Taiwan University)

Taiwan Mobile announced today that the "Mobile Pays You Installment" buy now, pay later application scenario continues to expand, extending from e-commerce shopping to life services such as travel, beauty industry, and pet care. Invite more industry players to jointly expand life financial service business opportunities. Taiwan General Manager Lin Zhichen said that the operation of its buy now, pay later (BNPL) service "Big Brother Pay Installment" has shown strong momentum. The latest number of users has increased significantly by more than 49% compared with the same period last year. With the addition of BNPL, future new technology business revenue of 1 billion yuan is an important scale threshold and milestone.

Lin Zhichen said that although Taiwan has a high density of banks and ranks among the top in credit card penetration, about one-third of the country's ethnic groups still belong to the "Unbanked/Underbanked" group, or have relatively low credit card limits. This group of people does not lack the ability to repay, but many of them are engaged in atypical employment (such as taking cases, delivery workers, etc.) or have irregular incomes, and it is difficult to obtain the corresponding amount through traditional bank monthly salary certificates.

Lin Zhichen pointed out that most telecommunications services in Taiwan adopt a "monthly rental system", and users have a payment buffer period of about 15 days on their monthly bills. Through users' long-term payment records and big data analysis, a highly reliable credit model can be established. Telecommunications companies already have mature debt lending and risk control mechanisms. With years of accumulated actual data and AI-powered risk control models, the current bad debt rate performance of "Big Brother Pays in Installments" is not only better than that of domestic and foreign BNPL peers, but is even more prudent and safer than the traditional telecommunications industry's debt lending.

Lin Zhichen said that large Taiwanese users do not need to go through complicated application procedures. They can open the app and see their personal basic limit; if they accumulate good payment credit, the limit can be flexibly increased, even exceeding the limit for purchasing high-end iPhones, which can fully meet the needs of high unit price consumption such as traveling abroad, emergency pet surgery, or purchasing a new smartphone. In addition, "Big Brother Pay Installment" has achieved rapid growth after being connected with partners such as Lion Travel and Coca-Cola Travel. It not only opened up the cardless installment customer base for merchants that were previously inaccessible and increased the unit price of customers, but also further deepened the user's stickiness with Taiwan's largest telecom ecosystem, creating a win-win synergy for users, merchants and telecom operators.