Paying for a change: the "enclosure war" between the old and the new

[As of the end of October 2015, a total of 268 institutions had obtained payment licenses issued by the central bank. Recently, the central bank cancelled the payment license of Shanghai Changbu Enterprise Services Co., Ltd. Since August 2015, three payment institutions have been cancelled. ]

The payment industry has never lacked big events, and Applepay is about to be used in China. It is the focus of countless eyes in these two days. How will ApplePay spoil the payment industry, and what kind of pattern will the payment industry present in the competition of new and old people?

The payment industry in 2016 is destined to be very lively. The new rules and industry reshuffle, whether for the old-fashioned payment companies or newcomers, to seize the site, the layout of the new front is particularly urgent.

Since 2015, the regulation of the supervision of the payment industry has quietly blown up. At the end of last year, the “Administrative Measures for Network Payment Services of Non-bank Payment Institutions” was issued to convey clear regulatory opinions: encourage payment institutions to locate payment channels and limit account functions.

According to the “2015 China Payment and Clearing Industry Social Responsibility Report” issued by the China Payment and Clearing Association, as of the end of October 2015, a total of 268 institutions had obtained payment licenses issued by the central bank. Recently, the central bank canceled the payment license of Shanghai Changshang Enterprise Service Co., Ltd., that is, up to now, there are 267 licensed payment institutions. It is worth noting that this is the third payment institution that has been canceled license since August 2015.

The supervision and efforts to rectify the payment industry have been decided, the competition is becoming more and more fierce, the pattern is evolving, and the self-discipline and transformation of payment institutions are imminent. In this context, payment institutions are gradually adjusting their strategic layout, and the status of the industry leader is further strengthened, rather than the leading enterprises in the upstream and downstream innovation areas focused on payment.

The payment industry "small smoke".

Payment change

"With the development of the Internet economy and the migration of user habits, mobile payment has increasingly become the infrastructure and core entrance of the entire Internet." Li Yaodong, Dean of the Zero Institute, told the "First Financial Daily" reporter that this entry was mainly It is occupied by Internet companies relying on traffic advantages and scene advantages, and financial institutions are late.

Li Yaodong believes that large financial institutions represented by Ping An’s wallet are concentrating on the penetration of mobile financial services, and they also have their own advantages, such as possessing financial scenarios, better understanding of users’ financial needs, and richer asset management experience. Relying on the financial scene to extend the life scene, and the Internet company relies on the life scene to extend to the financial scene, forming the "one body and two sides" of the market competition. The core lies in the rapid capture and efficient satisfaction of user needs, and the realization of financial services through scene embedding and technological innovation. Generalization, personalization, intelligence and integration. Competition in this area has just begun. Despite the huge difference in market share, financial institutions and Internet companies actually stand on the same starting line in terms of comprehensive services for mobile finance.

Faced with changes in the industry environment, what should future payment institutions pay attention to? Yang Tao, assistant to the director of the Institute of Finance of the Chinese Academy of Social Sciences, told the reporter of the “First Financial Daily”: “The first is to standardize development and strengthen consumer protection and education for payment services, which will help good money to drive out bad money and achieve risks and efficiency. Balance; Second, integration and adjustment, the industry may have more mergers and acquisitions; Third, openness and competition, competition from overseas institutions, traditional institutions, and third parties is more intense, and there is also room for win-win cooperation; Fourth, strategic improvement, the payment industry has From the national strategic level, there are more top-level design and positioning from the financial market infrastructure level; fifth, the rules are more important, from the innovation boom of payment products to the construction of technical standards in the industry; sixth, customer-led and service-added, Pay attention to the needs of customers' diversification and provide additional services beyond payment."

At present, the domestic payment industry is "three pillars", UnionPay Business, Alipay and Tenpay.

According to Analysys Analysys think tank, the proportion of China's non-financial payment institutions' comprehensive payment market transactions in the third quarter of 2015, UnionPay Business, Alipay and Tenpay were ranked in the top three with 35.87%, 33.18% and 9.62% respectively. . The remaining rankings are: fast money 6.65%, remittance world 4.81%, Tonglian payment 3.86%, Yibao payment 1.5%, Huanxun payment 0.73%, other payment institutions only account for 3.78% market share.

However, the "cake" of mobile payment has a different pattern. According to Analysys think tank, in the third quarter of 2015, Alipay continued to occupy the first place in the mobile payment market with a market share of 71.51%; Tenpay ranked second with a market share of 15.99%, an increase of 2.91 percentage points over the previous quarter; Lakara In the quarter, the market share was 6.01%, ranking third; UnionPay's mobile payment market share was only 0.49%, ranking eighth in the country.

Analysys think tank analysis believes that "With the continuous improvement of mobile payment scenarios, users can use mobile payment tools in many scenarios. With the development of users' habits, the number of quarterly active mobile payment will continue to rise. Users will move to the future. The reliance on payment tools will be strengthened, and users will decide which mobile payment tools to choose based on their personal habits and specific scenarios."

"At present, China is developing in parallel with a variety of mobile payment methods," said Wang Yonghong, director of the Science and Technology Department of the People's Bank of China. "In addition to some payment methods for small-scale relatively closed environments, there are three major genres in domestic mobile payment: one is Flash payment, including cloud payment, Samsung payment, Apple payment, etc., as well as payment types used by mobile phone operators using SIM-SWP technology, focusing on the consolidation of offline payment; second, scanning code, that is, two-dimensional code payment, mainly including Alipay and Tenpay's two third-party payment agencies focus on the conversion of offline transactions into online transactions; the third is the transfer group, including Alipay transfers and WeChat payments."

Staking

Paying for the future is huge, both for established institutions and rising stars, payment agencies want to get more in this blue ocean.

In recent years, China UnionPay has made great strides in the layout of mobile payment strategy. Under the new environment of the payment industry, China UnionPay has launched the "secondary entrepreneurship" model, which has gradually set off a wave of financial technology innovation.

In the field of mobile payment, China UnionPay recently made frequent moves: On December 12, 2015, China UnionPay and more than 20 commercial banks jointly issued UnionPay "Cloud Flash Pay" to develop mobile payment based on Flash Pay, officially launched based on HCE (based on host Card analog mode) mobile payment solution. With the pilot launch of the UnionPay card small exemption visa-free service, the cardholder does not need to sign and lose the password under the designated merchant "flash payment" of 300 yuan, and the "flash payment" experience is greatly improved.

On December 18, 2015, China UnionPay and Samsung Electronics announced the conclusion of SamsungPay, and Apple announced that it will launch ApplePay in China. UnionPay cardholders will be able to enjoy a convenient and secure mobile payment experience using SamsungPay or ApplePay. According to a person familiar with the matter to the "First Financial Daily" reporter: "ApplePay has been in the internal testing stage, seed users can pay at McDonald's, Watsons, Starbucks, 711 supermarkets and other shops."

In addition, China UnionPay started from the simplified payment process and officially launched the "Modern Hospital" solution at Shanghai Zhongshan Hospital in early 2015. It will integrate the traditional registration, diagnosis, treatment, inspection, and drug withdrawal, and begin to conduct nationwide. Pilot promotion. According to the relevant staff of China UnionPay, nearly 30 hospitals including Shanghai, Guangdong, Zhejiang, Hebei, Anhui and other places have been put into operation, and the first mobile phone payment for medical insurance has been realized in Guangdong.

As the absolute market share advantage of mobile payment, Alipay did not relax its own territory for a while. First of all, Alipay through the revision of the mobile terminal to improve the online scene, followed by offline promotion, signing merchants, convenience stores to expand offline payment scenarios.

In the third quarter of 2015, Alipay released version 9.0, intending to do a full-scenario financial platform in the future, and explore the market around "scenarios". For example, Alipay provides the "city service" function in Chengdu, providing local residents with a provident fund. 14 convenience services such as enquiries, Hong Kong, Macao and Taiwan endorsements have made the Alipay scene more abundant.

In addition, Alipay offline promotion is also quite large, such as signing RT-Mart, so Alipay has signed all five major domestic supermarket brands. On September 23, 2015, it announced that it will invest 1 billion yuan to launch the "opening of the whole country" program, saying that it will recruit 1 million "word-of-mouth customers" within two months and open 1 million stores.

At the same time, Alipay's tentacles continue to reach any area that can be covered. Since January 23 this year, Alipay has joined 80 brands to distribute business packages for 19 consecutive days, including insurance companies that have not appeared in the past.

According to Analysys think tank, in the third quarter of 2015, TenPay's market share increased significantly, accounting for 15.99% of the market.

According to the unaudited third quarter earnings report released by Tencent Holdings Co., Ltd. as of September 30, 2015, the total number of QQ wallet and WeChat payment users has exceeded 200 million, and the huge user base and social-based The frequent payment behavior has brought about a large increase in the scale of Tenpay payment. In addition, the full open application for service providers has attracted a considerable number of small and micro businesses.

Lakara is a dark horse in the payment industry, playing a role in the symbiosis system of integrated Internet finance. Lacala improved the business layout of "8+N" for the third time last year. Payments, credit, loans, wealth management, insurance, shopping malls, investment, banking services and other business lines have been launched, bringing the Lacala platform. More new users, while the original convenience payment business grew, while the credit and wealth management business increased significantly.

Based on the platform foundation of more than 4 million merchants and 100 million individual users, as well as big data and credit information services, in the third quarter of last year, the single-month transaction volume of Lakala credit business reached 10 billion yuan, and the amount of wealth management transactions reached 3 billion yuan. The main force of the explosive growth of Kara Mobile payment.

"fit" POS machine

The reform and improvement of large payment institutions, while driving other payment institutions and related upstream and downstream industries are also quietly changing. As an important territory for payment scenarios, it is also the main way of near-field payment, and POS machines are also changing. A new type of terminal POS machine is popular in the market. This kind of machine skillfully combines the payment methods such as UnionPay payment, WeChat payment and Alipay.

According to the "First Financial Daily" reporter, POS machines are entering the era of mobile intelligence, and Internet POS machines are partially replacing the 30-year-old "old age" traditional POS machines. "In addition to the functions of bank card acceptance, payment, transfer, etc., the Internet POS machine can also interface with banks, industry platforms and third-party institutions. Compared with traditional POS machines, the efficiency of Internet POS operation and operation is increased by more than 20 times. No need for manual on-site maintenance. "Beijing Weizhi Panorama Information Technology Co., Ltd. is a technical partner of Internet POS machines. Its founder and CEO Li Yan introduced the "First Financial Daily" reporter.

"In the information age, what we need is not simply a network of clearing connections, but a network of information connections. The funds, customers, orders, capacity and service capacity data are all placed on the network because a new data information network is needed. The connection of the physical merchant needs a device to pass up, and the data on the Internet is right next, that is the Internet POS machine." Li Yan said.

"First Financial Daily" reporter noted that this smart POS machine is also optimistic about other institutions. Fast money super smart POS machine, Lakara cloud POS machine has been available in the near future.

In fact, Lacala released a bracelet last year, trying to integrate NFC payment and scan code payment in the near-field payment on one bracelet and APP. "Lakara has been involved in bus cards, all NFC bank cards, and various Internet finance applications on the APP." Sun Taoran, chairman of Lakara Group, said in an interview with this reporter.

Pay for "the wasteland"

Not only is the layout of traditional POS machines facing a major reshuffle in the industry, but third-party payment institutions are also transforming and innovating.

"The opportunities for third-party payment in the future are greater than the crisis. Returning user value and merchant value is the only way for third-party payment companies." Zeng Yi, deputy general manager of Lianlian Payment, told the "First Financial Daily" reporter that the entire market is still erupting. Growth, the convenience of mobility is prominent; on the other hand, after the market enters a higher level of supervision, companies that focus on user experience and merchant demand can gain more market share, while companies that survive by violation will be struggling, and breaking the violation is to break Unfair competition, when unfair competition does not exist, the market will return to benign development, rather than the current price war, so when the industry supervision is upgraded, the income of the payment company will be improved.

With the changes in the environment, there are new and eliminated areas in the payment field. With the addition of Jingdong, Baidu, Alipay, WeChat, UnionPay, Wanda Express, and Ping An Wallet, the mobile payment battle is escalating.

As the leader of traditional finance, the progress of Ping An’s mobile payment has been receiving much attention from the market. In 2014, Ma Mingzhe, chairman of China Ping An, started the mobile sports land-occupation campaign with his purse. However, due to the lack of social genes, the speed and method of pursuing the wallet were not as smooth as the market imagined. How can Ping find the penetration? The payment scenario, which has been further circulated in the mobile payment market, was once again concerned by the outside world.

In fact, after the preliminary exploration of the mobile payment market in 2014, the wallet has been re-adjusted in the past year in combination with the group strategy, cutting from the financial payment scene, and gradually forming a new payment closed loop of "financial-payment-transaction-social mobility". Ecosphere.

At the same time as the new face enters, the payment industry veteran is exploring the transformation.

Relying on the big trees to enjoy the cool, fast money is gradually abandoning the business of a single third-party payment institution. At present, as an Internet finance company under the Wanda Group, Fast Money continues to expand its business model of new finance. Wanda Group has been striving to develop in the field of e-commerce and O2O, and financial services are important value for users.


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