Abstract: The huge customer base accumulated through the integrated mobile payment solution will undoubtedly become an important bargaining chip for the Industrial Bank to launch a third-party payment business and achieve the breakthrough of “Internet +†in banking business. It is worth looking forward to in the future.
"Hello, sir, you are WeChat, Alipay or Swipe..." Before a large supermarket was filled with cash registers at various check-in machines and scanners, the cashier repeated this sentence for every customer who checked out.
"She should say, Hello, Mr., are you swiping, WeChat, Alipay, UnionPay, Apple pay, or payoff?" A man waiting for the checkout whispered, causing people in the queue to meet for a while. laugh.
This small piece of life happened in the reporter's mind when I saw the function introduction of the “Xinge Pay†platform, a new mobile payment and cashier integration solution launched by Industrial Bank.
The “Xinge Pay†mobile payment system launched by Industrial Bank fully supports mainstream payment channels such as Alipay, WeChat and QQ Wallet, and realizes one-code sweeping of various payment methods to provide efficient, professional and secure mobile payment settlement service solutions for merchants. At the same time, it can also avoid the embarrassment of the increase in the cost of the business when the introduction of increasingly diverse payment methods.
At the same time, the banking financial institutions represented by Industrial Bank began to make great strides in the field of mobile payment by cooperating with Internet payment giants to build a payment environment and channels.
"Xinge pay" one code to sweep away
Solve the trouble of merchants' cashier
With the rapid development of mobile payment services, consumers have become a habit through payment methods such as WeChat and Alipay. In order to meet the needs of the market and customers, there are more and more payment channels that merchants need to access. In this process, the increase in cost and workload is difficult to avoid, which has caused confusion to the merchants to some extent.
In the process of providing customers with various payment methods, merchants need to apply for and sign contracts separately. When it comes to system development, it also needs to go through product development, system docking, product testing, training, etc., and it takes time and effort to increase expenses.
In the transaction process, the merchant needs to use different software, and the reconciliation at the end of the day needs to collect the collection records in multiple applications. The chain enterprises with more stores need to manually check the mobile payment accounts of each store. Time-consuming and laborious.
Industrial Bank is aiming at the wave of mobile payment, the pain point of merchants' cash register mode, actively carrying out technological innovation, docking WeChat, Alipay, QQ wallet and other payment companies, and launching a mobile payment collection software that has exhausted all kinds of payment methods. ", solve the cumbersome problems that merchants want to "eighteen weapons" and face the diversified choices of customers.
"Xing e pay" as a payment app that supports WeChat, Alipay and other functions, supports merchants to download for free, can be installed to PC, Apple and Android mobile devices, merchants and Industrial Bank can be used to sign up, compared to traditional The cash register software has many advantages such as technology leadership and cost concessions.
The first is technology leadership, to achieve one-code exhaustion, comprehensive support for Alipay, WeChat, QQ wallet and other payment methods, no need to repeat the application for each payment method, the average store can save 1-2 cashier labor costs. Second, the cost is concession, saving the cost of purchasing equipment, while the minimum rate is lower than the traditional POS cash rate of 50%. The third is to provide a variety of payment implementation methods for merchants. Merchants install PC version of "Xing e pay", scan code collection POS machine integration service, mobile device "Xing e pay" and through "Xing e pay" to generate static QR code 4 ways, whether it is PC, pos machine Mobile devices can be quickly launched without installation. “Xinge Pay†can achieve a code to sweep through and support various payment methods. In addition, “Xinge Pay†also provides a voice prompt function for receiving money, which can avoid the small ticket, and the customer does not need to sign, which is convenient and quick.
For chain-operated merchants, the system can also provide integrated cashier services. By marking different stores and cashier information, all transactions are entered into a unified system, and funds are directly entered into bank accounts, saving labor costs while ensuring the security of funds.
Banks force mobile payment
Strategically important
The Industrial Bank has made great efforts to develop an integrated mobile payment solution to serve thousands of merchants. The deeper reason is that the bank has seen broad market and strategic opportunities in the mobile payment field.
In recent years, under the background of the rapid development of mobile Internet, the payment of barcodes represented by Alipay and WeChat has risen and the popularity of online merchants has become popular. Mobile payment has rapidly penetrated into various consumer scenes, showing a broad market space.
The data shows that in 2016, the scale of third-party Internet payment transactions in China reached 19.3 trillion yuan, with a growth rate of 62.2%; the scale of third-party mobile payment transactions was 38.6 trillion yuan, with a growth rate of 216.4%.
Since this year, this rapid growth trend has continued. According to statistics from iResearch, the scale of third-party mobile payment transactions in China in the first quarter of 2017 reached 22.7 trillion yuan, an increase of 113.4% year-on-year and 22.9% quarter-on-quarter.
Internet payment companies and commercial banks actively promote mobile payment and introduce more consumer scenarios. By creating value for merchants, providing convenience for consumers, and cultivating users' mobile payment habits, mobile payment has become the most popular among bank cards and cash. Payment method.
At the same time, the importance of mobile payment in the entire financial system has become increasingly prominent. In the first quarter of 2017, the proportion of third-party mobile payment transactions, mobile finance accounted for 17.5%, personal applications accounted for 70.6%, mobile consumption accounted for 9.1%. . From the data point of view, mobile payment is no longer just a channel for people to pay conveniently. As the consumer's multi-channel financial awareness continues to increase and the interest rate of the money fund increases, the proportion of mobile finance in the first quarter increases significantly.
In the context of the general increase in bank debt costs, banks have become far-reaching in terms of cutting-edge mobile payment expansion scenarios, vigorously developing trading and settlement services, stabilizing corporate and individual daily liquidity funds, and increasing low-cost liabilities.
Seize the policy opportunity
Industrial Bank wants to show its strengths
In the early stage of mobile payment development, there is no clear regulation on bar code payment. Third-party payment institutions known for their Internet technology rely on strong innovation capability, low-cost investment (no POS terminal), and multi-level agent marketing, expanding a large number of Merchants, providing merchants with bar code payment receipt services, occupy a first-mover advantage.
However, this situation will change with the strengthening of regulation. In April this year, the People’s Bank of China and other 14 ministries and commissions issued the “Implementation Plan for the Special Rehabilitation Work of Non-Bank Payment Institutionsâ€, which focused on rectifying the risk of the payment of the customers of the licensed payment institutions, the cross-institutional clearing business, and the unpaid business operations. The big waves are sanding, which also gives opportunities for traditional banks that have advantages in terms of aggregation and liquidation.
Under the pressure of rectification, Alipay, WeChat and other giants have set a deadline for canceling direct links with third-party payment institutions, forcing third-party payment institutions to seek cooperation with banks, and to connect with Alipay and WeChat through banks, and continue to provide bar code payment to merchants. Accepted. At the same time, it seeks to cooperate with the bank to carry out the acquiring business, and the acquiring bank is responsible for the core business of the acquiring, including business review and fund clearing.
Under this change, the Internet payment giant is no longer a competitor in the construction of bank payment scenarios, but has become a supplier of rich bank payment channels, and the two sides have turned from gaming to cooperation. The huge customer base accumulated through the integrated mobile payment solution will undoubtedly become an important bargaining chip for the Industrial Bank to launch a third-party payment business and achieve the breakthrough of “Internet +†in banking business. It is worth looking forward to in the future.
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