Alipay has opened credit card gateway payment for users in Taobao Market, Taobao Mall (Tmall.com) and Electrical Appliance City. At present, the supported banks are China Bank, Ping An Bank, Agricultural Bank, China Merchants Bank and China Everbright Bank.
The credit card of China Everbright Bank supports installment payment, and users can apply to the issuing bank by telephone or other means. The disadvantage of bill installment is that it can't exempt the handling fee. The longer the number of installments, the higher the handling fee, and the cardholder must bear it himself. Number of optional periods of China Everbright Bank: 3, 6, 9,12; Corresponding exchange rates: 2.65%, 4.65%, 6.45%, 8.85. Handling fee per installment = total installment amount × handling fee rate per installment. The total installment principal is amortized monthly, and the balance is included in the last installment. At the same time, the installment amount and the handling fee of each period are recorded.