An online lending firm has paved the way for Uber-style debt collecting services in China by giving the public access to debtors’ personal data. But the move has raised concerns about the potential for abuse of the information, according to the South China Morning Post. Jiedaibao is an online platform launched two years ago to link lenders with borrowers. Users of its app can apply to recover debts owed through the platform by uploading their ID card number and a photo. After a “verification” process of about a week, successful applicants gain access to overdue borrowers’ phone numbers, addresses and even ID numbers, with commissions of up to 40% of the original loan for recovering the outstanding amounts. Jiedaibao declined to say how many collectors it had registered.
China Economic Review