Mobile payment "third party" intervenes in the stage of competition and cooperation game
The domestic commercial banks that have begun to transform have another competitor, a third-party payment company. On September 18, China Merchants Bank teamed up with HTC to launch China Mobile's first mobile payment product "mobile wallet" under the new standards of domestic commercial banks. One month later, on October 18th, third-party payment "Yi Ge" Alipay also released its mobile payment product "Super Pay". In the context of the transformation of the Chinese banking industry, this is not a gimmick. Previously, several banks such as Shanghai Pudong Development Bank, Agricultural Bank of China and China Construction Bank launched their own mobile payment products. China Merchants Bank President Ma Weihua even confessed that he would “wipe†bank cards through his mobile wallet. However, for commercial banks, it is far from ripe for the mobile payment business to form a climate. "The mobile financial business represented by mobile payment is a symbol of the future development direction of financial services." Many interviewed banks and third-party payment companies told reporters from the "First Financial Daily" that the mobile payment market has just started. The cooperation of relevant parties is greater than competition. For banks, factors such as the business environment, regulatory policies, and difficulties in integrating the industrial chain are the real obstacles to the development of the bank's mobile payment business. Transformation pressure In fact, the evolving financial disintermediation and the generalization of financial services have become the biggest shocks and threats facing commercial banks. Commercial banks hope to achieve business transformation by developing mobile payment services. "With the macro-environmental impact of interest rate liberalization and currency internationalization, commercial banks are facing tremendous transformation pressure, and mobile financial services represented by mobile payments are representing the future development direction of financial services." A person with SPD said With the opportunity of strategic cooperation with China Mobile, Pudong Development will develop retail banking business and realize strategic transformation. Ma Weihua had previously screamed that with the rapid development of Internet and mobile payments, traditional banks would become "a group of dinosaurs to die in the 21st century" if they do not change. In fact, predators in the mobile payment market are far more than banks. And this means that, in addition to fierce competition among peers, banks also have to face the involvement of "third parties." "Everyone knows that mobile payment is the future trend, not only banks, but also operators, third-party payment vendors, etc. are all expanding mobile payment." A third-party payment company Shenzhen Tenpay told relevant reporters. According to relevant sources of Tenpay, the company is working with WeChat and Tencent Micro Life to develop various payment methods and scenarios based on WeChat. In the future, users will be able to buy clothes, eat out, go home and go shopping through mobile phones. , Travel, entertainment, tourism and many other areas of life use Tenpay to enjoy easy and convenient payment. Clients get the world Liu Jianjun, executive vice president of China Merchants Bank ’s retail banking department, said that mobile payment has formed a two-point pattern of remote payment and near-field payment. At present, mobile payment services launched by various banks are all near-field payments. Due to the characteristics of mobile payment, its application range is limited. The scope of application is also very similar-concentrated in public and consumer areas such as buses and subways. For example, China Merchants Bank's "mobile wallet" is mainly used in supermarkets, fast food restaurants, pharmacies, convenience stores, bakeries and other places. The Pudong Development Co-branded Card is mainly used in convenience stores, supermarkets, Shanghai and Changsha a la carte markets, Ningbo Public Transport, Shenzhen parking lot and other convenient places. Because of the limitations of the application field, customer acceptance has become the key to the success or failure of mobile payment in various banks. "Customers win the world." People involved in Pudong Development and China Merchants Bank repeatedly stressed the importance of customer experience in an interview. Liu Jianjun believes that the success of each bank's mobile payment business depends on customer experience, convenience, and security. The globally recognized direction of mobile payment is NFC, that is, the NFC chip is built into the mobile phone to carry out point-to-point contactless data exchange and graft various functions of mobile phone communication. By linking the TOUCH card of "Mobile Wallet", you can recharge your "Mobile Wallet" account through your mobile phone. For Pudong Development's mobile payment service, when paying on a POS machine with the UnionPay QuickPass logo, users need to attach a mobile phone pendant card or patch card. In terms of functions, in addition to basic transactions such as account management, transfer and remittance, gold transactions, and query outlets, the four major platforms can also check the weather and information of nearby merchants, and find the addresses of nearby hospitals. However, a common view in the industry is that the mobile payment market has just started, and cooperation is still greater than competition. "Mobile financial services are different from traditional financial services. They integrate a variety of financial services and require extensive participation by all parties, as well as joint exploration and research by peers." SPDB sources said. Tenpay related parties also believe that under the circumstances that the development direction, technology and business model are not yet mature, the banks now need more cooperation. Multiple constraints to be solved The fact is that, regardless of transaction size or application area, mobile payment is far from forming a climate. Taking the earliest intervention of the Shanghai Pudong Development Bank as an example, the data provided by this bank to our reporter showed that at the end of September this year, the cumulative number of co-branded cards issued was 200,000, and the monthly transaction volume in September was 200 million yuan. Most banks are still on the sidelines. "The mobile payment market is still in the cultivation stage, the environment is not so ideal, and it will take some time to really form a scale." Liu Jianjun said that although many banks have launched mobile payment products, large-scale application is too early. In the view of the above SPD bankers, the factors restricting the development of mobile payment come from many aspects. From the current point of view, the mobile payment processing environment is not ideal. Except for a few areas such as Shanghai, Shenzhen, and Ningbo, the distribution of merchants using contactless POS machines is relatively scattered, making it difficult to form a passenger flow. In addition, with the development of technology, smart phones face the risk of being invaded and controlled, which may cause direct economic losses to users, and further spawn other social problems that hinder the normal development of mobile finance. More importantly, all parties in the market need a cooperative and win-win industrial alliance and ecological environment, but a win-win mechanism and business model that meets the interests of all parties have not been established. In this person's view, the most important thing is that the existing regulatory policies restrict the formation of mobile payment services and the lack of uniform standards. Mobile finance involves cross-industry integration and regulation, and needs to break through existing regulatory policies and formulate unified standards. "The lack of standards makes it difficult for all parties in the industry to form a joint force, and the business development of the enterprise is bound to be limited. They dare not invest rashly, which restricts the development of the entire mobile financial business." He said. Liu Jianjun also holds a similar view. He believes that the mobile payment industry involves all aspects of banks, mobile phone manufacturers, UnionPay, operators, merchants, etc. The key to its development lies in the integration of the industrial chain, but all parties concerned have their own interests and appeals. Industry chain integration is very difficult and requires a long-term process. "To complete the integration of the industrial chain, I think it will take about three years at the fastest," he said.
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