Sign up to receive 5 free days of our daily summary for tech news.

Introducing our newly updated org charts. Browse our org charts on companies like Uber, Facebook, and Airbnb all in one place.

Read this article for free.

Already a subscriber? Log in here

China’s ‘Wild West’ May Be the Future of Peer-to-Peer Payments

Peer-to-peer lending may be growing steadily in the U.S., but it’s truly taken off in China. And that is providing opportunities for U.S. venture capitalists and other startups willing to stomach a volatile marketplace.

More than 2,300 services that allow consumers to get loans from individuals were operating in China at the end of 2014, estimates the Payment and Clearing Association of China. Many of the Chinese sites are fly-by-night operations—nearly 300 went out of business last year, the PCAC estimates.

But after just a few years in operation, these services have together originated more than $50 billion in loans. That dwarfs the $14 billion in the U.S. last year, according to estimates from peer-to-peer lending advocacy group Lend Academy. And that gulf is projected to widen in the coming years as Chinese companies continue to attract more awareness and funding.

What Is The Information?

Notebook b5103017ee163370a1667c9ce59ab0ef023875a17888105d26c185cadf31bb69

Daily news analysis

Every weeknight, we'll send you our reporters’ views on the day’s top tech news—distilled into one email.

Notes bb3aa5069205d702dda37fc71dc6f1c59df2310c4379304e9f1199f052af4884

Exclusive Articles

We broke it first. Receive original reporting, stories, and exclusives you won't read anywhere else from the largest newsroom in tech.

Conference calls c9e664e8b96ee347d3e92b8309938f268422b9db98cfabca5c826fbb75054b23

Conference calls

Go deep into areas like crypto and VC diversity—or get real-time analysis of breaking news—via conference calls with our reporters and other experts.

Events 499acedd16cffc41445edd76bfd302b2836c2a27419890f17130a6b10e2aa3df

Special Events

For no extra fee, subscribers get access to more than a dozen events yearly, from intimate dinners to larger gatherings with marquee speakers.

Access the best reporting on the tech industry read by tens of thousands of global executives.

Become a contributor

Share your views and find other subscribers by completing your profile. You’ll be listed in our contributor directory.

Org Charts

Access the only collection of tech company org charts. Our expanding database includes companies like Amazon, Snap, and Uber.

Slack community

Discuss topics and current events with our subscriber-only Slack group and share news about your company with other subscribers.

Share with your team

Subscribers can unlock any article and share it with friends and co-workers through a special share link.

Stay up to date on Silicon Valley

Sign up for Jessica Lessin’s (The Information’s CEO & Founder) free Saturday newsletter and also receive a complimentary week of our daily afternoon tech commentary email.

Already a subscriber? Log in here

Recent Articles

Google Uber/Lyft

The Information’s Next Free Agents

By The Information Staff


Online Lender Earnest Seeks to Raise $50 Million or Find Buyer

By Serena Saitto


The China Tech Companies Headed for IPOs in U.S and Hong Kong

By Shai Oster, Juro Osawa, and Yunan Zhang


Venmo Trust and The Blockchain

By Sam Lessin

“In some ways [Chinese platforms] are very advanced, in other ways they’re very behind. Both sides can learn from each other,” said Jason Jones, CEO of Lend Academy.