The Douyin version of Huabei "Relaxed Flower" is in closed beta, ByteDance accelerates the construction of financial territory
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The Douyin version of Huabei “Relaxed Flower” is in closed beta, ByteDance accelerates the construction of financial territory

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Douyin version of Hua chant “Relaxed Flower” in closed beta

According to Tech Planet, a product called “Relaxed Flower” has been launched on the Douyin App, which is positioned as a platform for providing loan service technology.

Since the product is still in the testing phase, not all users can experience it. According to the solution, the test entrance of “Relaxed Flower” is located in the Douyin App-Personal Center-Wallet, and it is listed in the same window as another loan product of Byte, Reassured Borrow.

The customer service of “Relaxed Flower” stated that Reliable Flower is a financial product under Douyin and a financial platform that provides lending services. It will be gradually opened to all users in the future.

The way to apply for the quota in the “Relaxed Flower” is that the individual fills in the application information. After the official assesses the personal income and other information filled in, the quota can be issued. The maximum quota can be 10,000, but the quota cannot be withdrawn.

Rest assured that the borrowed amount and interest need to be paid off on the 1st of next month, and at the latest on the 6th, otherwise it will be held accountable, such as a title. It’s worth noting that the amount borrowed by Fuxinhua is currently only supported when purchasing DOU+ in the Douyin App. The customer service said that in the later period, the rest assured spend or open it to other payment windows in the Douyin App, such as buying Douyin, and purchasing goods on Douyin.

Since the rest assured flower is rooted in Douyin, it can be regarded as an important part of the financial ecosystem of Douyin. Rest assured, Huabei is more similar to Alipay’s Huabei in terms of functional characteristics. Use it to consume first and then repay. And another loan product of Byte, Trust Borrow, is more like Alipay’s borrowing. Currently, Trust Borrow is in the wallet in the Douyin App.

Editor-in-chief’s comment: Following “Relaxed Borrowing”, “Full Score”, and “Backup Fund”, Bytedance will launch new financial lending products in Douyin. This will help Douyin to gradually establish the underlying payment system when it accelerates the divestment of external chains, complete the closed loop of e-commerce, and avoid being restricted by others. Essentially, Bytedance’s actions in the financial sector are to better realize traffic monetization. Rest assured to borrow and rest assured that flowers have become Douyin’s borrowing and flower…

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