Before 2010, China's third-party payment industry was in its original growth period. With the development and growth of a large wave of third-party payment companies, it has become very important in the field of payment and even finance. The promulgation of the “Measures for the Administration of Payment Services for Non-Financial Institutions†and the “Implementation Rules for the Administration of Services for Non-Financial Institutions†means that third-party payments have been incorporated into the national regulatory system, have legal status, and have obligations to abide by the law. . Settlement and clearing in the payment system Children Wheel Chair Removeble Armrest
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For many of us, the term “third-party payment†is no stranger. According to the explanation given by Encyclopedia, some third-party organizations that have signed contracts with major countries and domestic and foreign banks, and have certain strength and security. The trading platform provided. When people talk about third-party payment companies, their eyes are focused on the current development, and few people care about its past. Today we don't care about the future, just look at the past.
At present, China's payment system mainly contains four major contents. In the central bank's "Overview of the overall operation of the payment system" report, payment tools and payment systems are the most important parts. Third-party payment and commercial banks belong to the payment service organization. With the development of the payment industry, payment service providers in some professional fields are also emerging, such as cross-border remittances. Third-party payments also see opportunities in the segmentation area, and it is no longer normal for payment service organizations to have business cross-cutting in various areas.
In the current payment relationship, there are two main issues - settlement and liquidation. In the settlement of the transaction, all the income and expenditure is summarized and accounted for, mainly divided into cash settlement and transfer settlement. Only transfer settlement is discussed here. Banks play an important role in transfer settlement, and together with merchants and consumers constitute a transfer settlement relationship. And because of the existence of different banks, banks will also have financial connections, so they constitute another relationship - liquidation.
Original third party payment
At first, third-party payments were not what we now understand. Consumers' initial online payment is more troublesome. Because different banks have different gateways, consumers must open the online banking function of relevant banks when they make online payments. If you have multiple banks at the same time and you want to make online payments, you must open all online banking, and you must purchase U shields at the same time. This is not the most terrible, consumers may not need to use so many bank cards, but the business is not the same, unless the merchant is willing to paste the "only accept XX bank online payment" and other tips. The emergence of a third-party payment gateway solves this problem, and it is much more convenient for it to switch to a different bank and then transfer the merchant.
After solving the problem of the merchant, the third-party payment finds the pain point of the consumer, and replaces the online banking payment with the quick payment. Through the agreement with various banks (circumventing UnionPay), users of the fast payment platform do not need to open online banking, just enter the relevant card face information to complete the payment. Simply put, the agreement agreed by the user allows the payment platform to assist the bank in achieving a quick debit.
Whether it is connected to the payment gateway or the introduction of fast payment, the third-party payment here does not cut off the flow of funds. Simply put, these two actions are just convenient for merchants to collect money, users spend money, and third-party payments act as a payment channel.
Later third party payment
Entering the new century, China's market economy has advanced by leaps and bounds. The traditional payment system represented by banks still cannot meet the demand. The Alipay born in 2004 relies on its own e-commerce platform to grow rapidly. At this time, Alipay account is equivalent to a virtual account. Shopping on Taobao is equivalent to first paying the money to Alipay. After the consumer confirms the receipt and is satisfied (the user experience is very important), Alipay will pay the money to the merchant. At this time, the funds stayed in the Alipay account, and the user can also put the money into Alipay's account balance.
Once the funds have settled, the bank must be happy. Later, everyone is very clear, third-party payment is constantly improving, providing more and more services, covering a wide range of industries, and development is not unpleasant. Of course, regulation will follow, and this is all a follow-up.
Those famous third-party payment companies
Alipay
Founded in 2004, Alipay is undoubtedly the most prestigious third-party payment company in the country, starting with e-commerce and becoming the world's largest mobile payment brand in the second quarter of 2014. In 2011, Alipay received the first batch of payment licenses from the central bank, mainly providing online purchase guarantee transactions, online payment, transfer, credit card repayment, water and electricity payment, recharge of telephone bills, personal wealth management and other functions. When it comes to personal finance, you have to mention the balance. Banks refer to accounts with small deposits as burdens and costs, and Xiaobian has personally experienced the “small account management fee†service of CCB. The emergence of Yu'ebao is a big boon when a small amount of money is not available in the bank and there is a possibility of a deduction. In the first quarter of 2016, Tianhong's balance treasure reached 762.6 billion yuan, and Tianhong Fund also became the largest fund management company in China. It has long been said that the value of payment is far beyond payment. The development of Alipay is the best interpretation of this view.
Tenpay
TenPay is the online payment platform launched by Tencent in September 2005, ranking second in the domestic third-party payment market. TenPay's major brands include QQ wallet and WeChat payment. With the status of WeChat's domestic social brother, WeChat payment has the capital of Alipay. Compared with online shopping, social is a more high-frequency activity. WeChat payment also makes good use of this. The payment service built on social software can better and more directly cultivate user habits. In terms of merchants, the construction of the public number enables merchants to have strong membership management, preferential activities, and interactive communication skills. These payments can be made well; the biggest speciality of users lies in the financial behavior among friends, and payment is limited to merchants and consumers. between. Who! Send me a red envelope?
Lakara
Lakara, also established in 2005, is also a veteran company in the third-party payment market, but in the face of the competition between Alipay and Tenpay, Lacala has few ways in the field of personal payment. Fortunately, the personal payment business is not the main source of Lacala's revenue. In 2015, Lacala's personal payment business accounted for only 13.32% of the revenue, and most of its revenue source is the acquiring business. Last year, the amount of Lhakara’s acquiring business accounted for 7.5% of the total amount of the industry’s invoices. It was also ranked third after UnionPay’s business and Tonglian’s payment.
UnionPay Business
Founded in 2002, UnionPay Business is a third-party payment company engaged in the professionalization of bank card collection under China UnionPay. According to Nielsen's relevant data, as of August last year, the UnionPay business market service network covered all prefecture-level cities across the country, with 470,000 merchants and 5.8 million POS terminals. UnionPay has always maintained its number one position in China's acquiring market, but the gap with other third-party payment companies that are mainly engaged in acquiring orders is not very large. The strength of Tonglian Payment, Lakara and major commercial banks cannot be underestimated.
Baidu wallet
Baidu's online payment platform provides payment services such as transfer, payment, payment, and recharge. Although the weakest in BAT, Baidu's determination to enter the financial payment field is as determined as selling advertising. Baidu Wallet has fully opened up the O2O consumer and consumer sectors, while providing “Baidu Financial Center†business, including providing industry-leading personal wealth management, consumer finance and other diversified financial services. Its most famous is the “perennial cash back planâ€, which has a cash return of 1%. In recent years, Baidu Wallet has gained a lot of market share.
Jingdong Wallet (Online Online)
Online Banking was established in 2003 and was acquired by Jingdong in October 2012 to become a wholly-owned subsidiary of Jingdong Group, providing a comprehensive payment solution for Jingdong E-commerce. It is a leading provider of electronic payment solutions in China, focusing on providing safe and convenient integrated electronic payment services for various industries. The core business includes services such as payment processing (online payment gateway, online banking wallet, express payment) and prepaid cards.
Quick money payment
Fast money is the leading information financial service institution in China. At the end of 2014, Wanda Group signed a strategic cooperation agreement with Fast Money and obtained the right to control the fast money. According to sources, the total amount of Wanda’s quick money is about 2 billion yuan. After the transaction is completed, the fast money will remain independent. After Wanda’s shareholding, its focus is more on Internet finance.
Wing payment
Wing Payment is a business brand of China Telecom's operating payment and Internet finance. Support all kinds of online and offline people's livelihood payment applications, provide comprehensive Internet financial services for individuals and merchants through the business of Tianyibao, Tianyi Loan, payment assistant, payment fee, wing payment bump, etc., and at the same time for government and enterprise customers. Provide professional industry solutions. Later changed its name to Sweet Orange Finance, and the intention of switching to Internet finance was obvious.
Easy pay
Yifubao is an independent third-party payment company under Suning Yunshang. In the registered members of Suning Tesco, you can easily refill the EasyPay account directly on Suning Tesco, and you can pay directly with EasyPay at the time of payment. After the user activates the EasyPay account, they can enjoy various application services such as credit card repayment, water and electricity coal payment. Nanjing Suning Yifubao Network Technology Co., Ltd. is an independent third-party payment company under the umbrella of Suning Yunshang Group Co., Ltd. with a registered capital of 100 million yuan. It was established in 2011.
Tonglian payment
Tonglian Payment is a financial outsourcing and comprehensive payment service enterprise jointly established by Shanghai International Group, Shanghai International Trust Co., Ltd. and China Wanxiang Group. Tonglian Payments' business mainly includes two aspects: industry integrated payment services and financial outsourcing services. In addition to banks and traditional department store supermarkets, the scope of customers includes fund, insurance, aviation, logistics, medical, leisure and other industry partners and a number of large group corporate customers. 