PPDai.com is China’s first social lending site. Launched in 2007, PPDai is focused on bringing peer to peer lending to the mainland by tapping in on what will be the world’s most populous internet user base.
While the credit rating system in China is lacking, social pressure is extremely powerful. By leveraging social networking, PPDai has created an online community that brings borrowers and lenders together and provides them with a secure and efficient platform for conducting loans.
PPDai users build strong, trustworthy communities, that lead to lower interest rates for borrowers, great returns for lenders, and low default rates. Since launching, PPDai has actively facilitated loans and listings continue to grow as more and more Chinese are discovering the power of social lending.
The name PPDai is a combination of peer to peer and “Dai” which means “Lending” in Chinese.