What does P2P mean?

1. What does P2P mean?

P2P is the abbreviation of peer-to-peer (or peer-to-peer) in English, which means individual to individual (partner to partner). Also known as peer-to-peer online lending, it is a private small-amount lending model that gathers small amounts of funds and lends them to people in need of funds. It is a type of Internet Finance (ITFIN) product. It is a private small-amount loan, an online credit platform and related financial activities and financial services that rely on the Internet and mobile Internet technology.

On September 4, 2019, the Leading Group for the Special Rectification of Internet Financial Risks and the Leading Group for the Special Rectification of Online Loan Risks jointly issued the "Notice on Strengthening the Construction of the Credit Information System in the Field of P2P Online Loans" to support the P2P online lending institutions are connected to the credit reporting system [1].

In mid-November 2020, the number of P2P online lending institutions actually operating across the country was completely reduced to zero [2].

2. What are the p2p loan platforms similar to Ping An Yidai? No credit reference or credit card is required

All the information published online that you can get a loan or apply for a credit card with just your ID card are low-level scams. No matter whether the company is registered or not, don’t believe it. It’s a scam. And press your fingerprint, and then ask for the first month's interest, performance fee, guarantee notary fee, credit reference fee, mortgage deposit, card opening fee, etc., in the name of insufficient bank balance, checking your repayment ability or capital verification. You transfer all the funds in your account to the scammer's account. If you don't pay the fees as required by the scammer, the scammer will threaten you to breach the contract on the pretext that you have signed a contract with them, and threaten you to pay huge liquidated damages. This is really a low-level method and a typical example!

Please always remember that if the other party asks you to pay any fees first for any reason, it is absolutely true, no matter what the circumstances, to avoid being cheated! Don't believe any threats from scammers. Since the other party is suspected, the contract signed with the scammer has no legal effect, and there is no possibility of breach of contract.

Therefore, netizens are hereby reminded not to believe such loan or card application information published online and by various small loan companies. Such companies, especially in cities, are basically scammers! If you choose to call the police! So rampant, yet still cracking down and rectifying!

3. Financial management knowledge: What are the common scams on P2P platforms

Many scams take away investors’ funds under the banner of p2p financial management, but real p2p financial management will not Run away, what we need to know before investing is whether the platform is formal. 2018 is the registration year, which means that after 2018, the platform will be formal. I have been investing in Particle Wealth for half a year. Overall, it is very good. It is online. So far, there have been no overdue or bad debts.

4. What are the scams of P2P?

One of the key words of the scam: no mortgage required, guaranteed loan

Many online advertisements say "no guarantee" , no mortgage required, guaranteed loan”, they use these false advertisements to attract people who are in urgent need of raising money for loans and lead them into scams. Most of them are scams on the Internet. Such fraudulent loans hardly set any loan conditions, are unsecured and unsecured, have extremely "reasonable" interest rates and promise to make certain loans. Neither, nor does it set a threshold. Is it really such a good thing? Borrowers should think carefully.

Keyword 2 of the scam: Pay first

Recently, Mr. Chen was defrauded out of 11,400 yuan when he tried. On August 25, he searched for a website for "quick loan processing" and contacted the other party using QQ. The other party explained that Mr. Chen needed a loan of 50,000 yuan, with a monthly interest of 400 yuan. He had to pay one month's interest first, and then he could get the loan quickly. Mr. Chen immediately called the phone number to inquire about the relevant procedures. The "manager" on the phone asked Mr. Chen to pay 11,400 yuan one after another for reasons such as deposit and repayment ability deposit.

The third keyword of the scam: low interest rate

The interest rate is only 1% for 30,000 to 100,000 yuan? This is not a preferential policy of the bank, but a trap. When Li Tian, ??the deceived person, repeatedly tried to find a bank loan without success, he received a text message, which read: "× Group provides low-interest loans (quarterly interest of 6%, annual interest of 10%) to deceivers in this city, small amount without collateral, interested Please call ××”. With the attitude of giving it a try, Li Tian dialed the other party's number. The scammer began to set up a trap, asking Li Tian to transfer a quarter's interest to a designated account first, saying that he could get the money directly after completing the procedures the next day.

Scam Keyword No. 4: ID Card Loan

The phrase "You can get a loan with just your ID card" in the advertisement mostly refers to credit loans, that is. However, it is impossible to get a successful loan with only your ID card. You need to have certain proof of income and a stable job. Banks are commercial institutions, and loans are their main source. Therefore, the quality of loans is related to the survival of the bank, so there will be no failure to consider your loan qualifications. General conditions: credit status, employment status, even the form of salary payment. Therefore, "loan based on ID card only" is false.