Tmall Double 11 completed 1.48 billion payments in a single day, China's financial technology broke the record again

　　At 0:00 on November 12, 2017, the transaction volume of the 2017 Tmall Double 11 Global Carnival was frozen on the data screen: 168.2 billion yuan, and the total number of payments completed by global consumers through Alipay reached 1.48 billion, an increase of 41% over last year. It is equivalent to the average Chinese person completing more than 1 payment on Alipay on Double 11.

　　The record-breaking payment peak was born in 5 minutes and 22 seconds just after Double 11, with 256,000 transactions per second, 2.1 times that of last year. At the same time, the database processing peak was born: 42 million times/second. This number means that in the second when the payment peak occurs, OceanBase, the independently developed database independently developed by Ant Financial, smoothly handled 42 million requests, which also means that the independently developed database in China has jumped to the first echelon of global databases.

　　In addition, during this year's Double 11, 12 insurance companies across the country provided nearly 50 types of consumer insurance to consumers, helping merchants and consumers solve their worries in logistics, quality, after-sales service, etc. On Double 11, the number of consumer insurance policies reached 860 million, setting a new world record.

　　This year's Double 11 not only set a lot of payment records, but netizens also generally reported that payment was very smooth. Even in the first 10 minutes, there was basically no network congestion or stuck. It is also understood that Ant Financial's intelligent customer service, intelligent risk control and other technologies also played an important role on Double 11.

　　At the Double 11 Media Center, Ant Financial CEO Jing Xiandong also displayed a thank-you letter from Zhao Yong, a businessman in Yimeng Mountain. Ant-commerce bank's risk control technology and big data computing power have given Zhao Yong a credit portrait, and loans have supported his entrepreneurship. During Tmall Double 11 this year, he sold 700,000 duck eggs in a day, equivalent to 8 trucks in full.

　　Data shows that on the eve of Tmall Double 11 this year, more than 1.6 million Taobao and Tmall merchants obtained more than 100 billion loans from Ant Merchant Bank to solve their stocking funds. Compared with last year's Double 11, the number of loan merchants increased by 20%, but the loan amount doubled.

　　"Tmall Double 11 is the best military parade for technological innovation," Jing Xiandong said that in this great collaboration across the society, online and offline, e-commerce platforms, new financial service institutions, merchants, logistics, consumers, the entire ecological chain is driven by powerful technological innovation forces, becoming an important force in supply-side reform.

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