Alibaba in partnership with Luxembourg Consulate in Shanghai to issue credit-based visas

Written by Qinwen Wang || 22 Jun 2015

The versatile internet powerhouse Alibaba group is now sitting on the goldmine of big data and is innovatively monetizing it through internet finance. This time Alibaba Group's online payment system Sesame Credit applies the cutting edge big data-based credit rating system in partnership with Luxembourg's Consulate General in Shanghai for a launch of a credit-based visa application service.

The regular process of obtaining a Luxembourg Visa is quite complicated in China. Bank records have to be handed in as proof of assets and the process is time consuming. But now, Chinese traveler can easily obtain a Luxembourg visa through Alibaba’s tour service Alitrip with a certain level of Sesame Scores. For applicants with a 750 score or more, the Luxembourg Consulate in Shanghai will accept their personal Sesame Credit reports as a proof of financial capability. All original documents will still need to be provided to the Consulate at a later stage as Schengen rules require.

Sesame Credit is a credit scoring system that generates individual credit scores for individuals by tapping into Alibaba Group and Ant Financial’s vast online ecosystem and other personal credit information sources. Sesame Scores, which range from 350 to 950 points, are calculated based on five factors – credit history, behavioral preference, fulfillment capability, personal attributes and social network – and are indications of a user’s creditworthiness. Alitrip has already been incorporating the use of Sesame Scores into its travel service to lower Chinese traveler’s cost of outbound travels. The next step for Alitrip and Sesame Credit is offer online visa application service to more global destinations.

Alibaba-Sesame Credit visa

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