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Alipay and WeBank competition heats up as China reins in leverage | Financial Times

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"That profitability is partly due to WeBank’s less capital-intensive model than Alipay’s. WeBank takes only 20 per cent of the loans it extends on to its own balance sheet, syndicating out the remaining 80 per cent to local banks where its borrowers are located. ‘We partner with banks that would otherwise not be able to access these borrowers,’ Mr Ma added. ‘They have no online capability. We are the middlemen.’"

From "Alipay and WeBank competition heats up as China reins in leverage | Financial Times".

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