The third-party payment industry has been in big trouble in the past week. On December 26, UnionPay officially issued the “Detailed Rules for the Implementation of the Regulations on the Acceptance of Violation of UnionPay Card Acceptance Marketsâ€. The new No. 5 documentary stated that “the most stringent in historyâ€, and several third-party payment companies had been punished for violations. On December 28th, a third-party payment company in Shenzhen was temporarily “recovered by the central bank†because it was exposed by CCTV. This is the first case in which the license was supervised for more than three years. “The industry environment has changed since the first half of this year. The supervision is getting stricter and the number of competitors is increasing. If you don’t transform, you are waiting to die.†A third-party payment agency sighed to reporters. After three years of crazy expansion, third-party payment companies have also exposed a lot of chaos, and the regulators have rectified. More critically, in the fierce competition, traditional payment services have become meager, and the third-party payment industry is undergoing collective transformation. On December 26th, Wanda announced that it had invested in fast capital. It has been working hard to achieve the fourth place in the industry. It has become a powerful “cognac†and has entered the Internet finance and O2O. On the same day, the remittance world announced that it had obtained the fund sales license, and the road to wealth management was passed. Enterprises violate the regulations and lead the central bank to recover the license Before 2011, the payment industry was still only the industry of Alipay, Remittance World, Fast Money, UnionPay Business, etc. However, since the central bank issued the license in 2011, there have been nearly 300 third-party payment companies in just three years. Among them, there are generally POS acquiring services. The so-called POS acquiring business is to find a merchant to install POS machine, guide it to collect the card and get the handling fee. In 2012 and 2013, POS acquiring business became the most important business of many third-party payment companies. More than 50% of the revenues of some third-party payment institutions came from POS receipts. In order to compete for the market, industry chaos is frequent. According to data from UnionPay, in the first half of 2014, the country confirmed 46,936 illegal merchants, accounting for 5.84% of the active merchants. Compared with the end of 2013, the growth of illegal merchants has tripled; of the 460,000 illegal merchants, 77% came from Third-party payment institutions, the rest are from banking institutions. Violations include various forms of set-ups for rate arbitrage, even at all costs to forge all necessary documents, sell bank trading channels, and sell POS machines at will, and POS machines are an indispensable tool in the credit card cashing industry chain. The central bank began to clean up the POS acquiring industry at the beginning of this year. On April 1 this year, eight third-party payment institutions were called to stop the business, and the relevant companies' attitudes will be actively rectified. Only five months later, new tickets have appeared. On December 26, UnionPay officially issued the “Detailed Rules for the Implementation of the Regulations on the Acceptance of Violation of UnionPay Card Acceptance Marketsâ€. It is understood that the implementation of the new No. 5 document is 2-4 times that of the previous one, and the rectification period is no longer given for some serious violations. On December 28th, a third-party payment company in Shenzhen was temporarily “recovered by the central bank†because it was exposed by CCTV. This is the first case in which the license was supervised for more than three years. Vicious competition does not make money for traditional payments? “The determination of the central bank and UnionPay to rectify the acquiring market is evident. 2014 is the year in which the fines in China’s POS industry have the widest coverage and the most fines. The POS industry is about to usher in a major reform, which is the progress of the industry. The inevitable development of the times." One person in the payment circle commented. A third-party payment company told reporters that for an Internet finance company, the simple payment platform has not earned any money. One of the most obvious consequences of vicious competition is that everyone has no money to earn. "Your rate is 1%, I will do 0.9%. Such a case can be seen everywhere." The person said that the current market share is fierce, and the products or services provided by the people are roughly the same, or at least show no significant difference. For the benefit of economies of scale, enterprises have expanded their production scale, the market balance has been broken, and companies have resorted to price-cutting. In addition, the POS industry is growing slowly. Although the rural market is a potential market, it is still in the cultivation stage. Small enterprises do not have the strength to go to the countryside to paint walls, and there is a large surplus of industrial products. "Cut machine" is the result of vicious competition. The owner of a supermarket in Fengtai Huaxiang told reporters that some people who claimed to be a payment company said that they would help him upgrade the POS machine, so the card rate would be reduced from 0.38% to 0.25%. It was only after the inquiries that the so-called upgrade POS machine, In fact, the illegal organization set up the "Tiger Cat for the Prince" through the software - the merchant's equipment still bears the name of Company A, but the actual acquirer has become Company B, resulting in the merchant's funds or deposit on the B company account. . Qian Haili, an assistant analyst with the Internet Finance Department of the China E-Commerce Research Center, said that the competition of third-party payment companies is fierce. According to the monitoring data of the China Electronic Commerce Research Center, as of July 10, 2014, 269 companies have obtained third parties. Pay the license. The payment market has a large foundation, and the payment business model of various third-party payment companies is relatively homogenized, and some banks are also joining the acquiring market. Many incumbents have made it necessary for the third-party payment business to expand with meager profits. Collective bet on internet finance From the beginning of the development of third-party payment companies, two major camps have been formed. One is the B2C model represented by Alipay, and the other is the B2B model, which is a typical remittance world. It is also called an independent third-party payment institution. Alipay and Tenpay rely on Ali and Tencent to continue to expand their business, and independent third-party payment institutions that have lost the best window for C-end users are also trying to transform and upgrade, focusing on the development of online payment and Internet finance. Analyst Li Wei of Analysys International said that independent third-party payment institutions rely on traditional offline receipts and simple online payment, which lacks imagination and must build more and more three-dimensional business models. Only then will it not be because of a single business. Restricted and fatal impact on the company's overall business. The payment business is bundled with the most real capital flow and information flow of the merchant. It is a huge gold mine to be mined. If it only stays at the business level of the payment itself, it is undoubtedly the biggest waste of resources. Large third-party payment companies have begun to take advantage of big data to develop new products. On December 26th, Wanda announced that it would invest in fast money, and both parties wanted to build the largest O2O company. Guan Guoguang, the fast-money CEO, said that the boundaries between e-commerce and traditional enterprises will become increasingly blurred, and the integration of online and offline will be destined to become the future development direction. Quick Money is based on the electronic payment big data system and launched a variety of products for SME financing. All business segments of Wanda will use the fast money payment platform. The fast-accumulated consumption data will establish a large membership system for Wanda E-commerce. Provide support for providing big data services, etc. Another third-party payment company remitted to the world and chose a comprehensive financial services road. On December 26, the remittance announced that it had obtained a fund sales license. Liu Gang, President of Remittance Finance, said that Huiyun Tianxia has opened 50 wealth centers in the country. In 2014, the sales volume was nearly 40 billion yuan. In fact, as early as last year, the remittance of the world has begun to gradually transform, and three subsidiaries including remittance data, remittance finance and remittance technology have been established. It is understood that Remittance Data Corporation is mainly responsible for online payment, offline receipt and P2P account custody business, remittance finance is responsible for wealth management and other services, remittance technology is responsible for building systems and other services for customers. Remittance said that its newly added P2P account hosting business has more than 300 P2P platforms. Remittance World completed the initial transition from third-party payment companies to integrated financial services. In the first half of 2014, the transaction volume of Remittance World increased by 50% year-on-year. In the second half of the year, the growth rate of subsidiaries in new businesses such as P2P account custody, credit business and wealth management was outstanding. In addition, Epro pays for the P2P industry, not only has its own P2P platform, but also P2P third-party fund custody. Analyst Li Wei of Analysys pointed out that the payment began in the 1.0 era of pure acquiring business, entering the industrial upgrading, and providing the 2.0 era of value-added services on the basis of payment. In the era of payment 2.0, third-party payment companies formed a closed loop of information flow and capital flow through user data accumulated over the years. On this basis, the development of diversified cross-border services such as wealth management, financing, and marketing became a new bright spot for business development. It is foreseeable in the future that the boundaries of the industry are becoming increasingly blurred and cross-border cooperation will become the norm. â– Noun analysis Set code That is, by changing the trading category arbitrage. The bank card processing fee standard is: 1.25% for restaurants and entertainment, 0.78% for general merchants such as department stores, and 0.38% for supermarkets and gas stations. For example, the catering consumption is made up as a supermarket shopping. Receipt Refers to the settlement of local and foreign currency funds provided by the contracting bank to the merchant. That is to say, the cardholder signs the merchant's credit card at the bank, and the bank settles. Cutting machine The non-compliance organization set up the "civet cat for the prince" through the software - the merchant's equipment still bears the name of company A, but the actual acquiring institution has become the company B, which causes the merchant's funds to settle on the company B account. Electric Breast Pumps ,Double Electric Breast Pump,Single Electric Breast Pump,Electric Breast Milk Pump Zhejiang Carebao Co., Ltd , https://www.carebao.com
March 29, 2023