Also, aside from traditional lending, Alipay and Wechat are both competing to basically own all social and consumption data - in a sense I’d agree they don’t wa

Also, aside from traditional lending, Alipay and Wechat are both competing to basically own all social and consumption data - in a sense I’d agree they don’t want to become traditional banks: they want to create closed payment/purchasing/social systems where they can take cuts from every step of the process.