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However, does this mean that this is a new blue ocean market? That may not be the case! Looking back on 2015, the following is the three forces in the merchant-side market for mobile payments.
One. Professional smart cash register
The intelligent cash register has been upgraded on the basis of the traditional cash register. It not only supports the payment methods of multiple mobile payment such as WeChat payment, Alipay, NFC payment, but also provides merchandise management, card voucher marketing, order processing, order queuing, A variety of store services such as big data analysis and internet financial services. This kind of brand specializing in the production of intelligent cash registers, from concept to product, from research and development to promotion, from collection function to value-added services are very Internet-like, such as the Internet-based intelligent cloud cash register platform. They have taken advantage of the first-mover advantage, functional advantage, and business model differentiation, and have become the power of the rapid rise and development of the mobile payment merchant market.
Smart cash register manufacturers have these characteristics:
1. They are market pioneers, gaining first-mover advantage in market development, and establishing industry barriers for user groups and big data;
2. It is an Internet developer who uses Internet thinking to develop products. The device function and platform system are more in line with the mobile Internet trend, so it can better solve the business pain points of merchants;
3. It is a technology leader. It takes the longest time in the development of intelligent cash register and applies for the most patents. Therefore, it is most recognized by offline entities in terms of technical security and compatibility.
two. Traditional cash register transformation vendor
The rise of smart cash registers has brought huge impacts on traditional cash registers. Traditional cash register manufacturers have also transformed and followed up on research and development and promotion of smart cash register products. Such smart cash register operators can be called traditional cash register transformation manufacturers.
Traditional cash register transformation manufacturers have great strength in hardware, but lack of Internet genes, and lack of strength in the development of software systems. Therefore, they generally choose to cooperate with third-party payment companies to combine them with each other. The traditional cashier transformation manufacturer is typically the New World. It cooperates with third-party payment companies such as Lakara and Quick Money to leverage its strength in machine tool manufacturing and the advantages of third-party payment companies in system development. Cash register products.
However, the traditional cash register transformation manufacturers are now suffering. First, the time rush into the smart cash register field is facing great pressure in industrial chain adjustment, technology accumulation and market promotion. Second, the cash register transformation manufacturer only provides this. The prospects for the profit model of hardware and OEM production are still unclear. In addition to the distribution, the profit margin of the intelligent cash register is generally considered to be in the customized value-added services and big data mining, while the profit margin on the hardware tools is not large, the traditional cash register transformation manufacturers only provide hardware tools in the software system. Development relies on third-party payment companies, which are undoubtedly at a disadvantage in the industry chain.
three. Scan code gun, scanner, etc.
There is also a class of products that can support QR code scan payment, which is sought after by the market, such as scanning code guns and scanners. The products of the scanning code equipment manufacturers only support simple Alipay or WeChat payment, the platform system is simple or even no platform system; there is no online marketing function, which can not help the merchants to conduct online and offline mutual flow, lack of data analysis and mining functions, no Conducive to collection reconciliation.
Even so, because of its low cost and ease of operation, it is used in a small number of small businesses or small-scale small-scale operations. What we may be more common is the scan code gun connected to the checkout counter in the convenience store, or some small shops that have installed a sweeping dock on the basis of the original mobile phone and the traditional cash register.
In 2016, with the increasingly fierce competition in the mobile payment merchant product market, which products are more likely to be eliminated?
1. There is no doubt that the first cashiers were eliminated. The traditional cash register function only supports the UnionPay card, which cannot match the trend of mobile payment. Sooner or later, it will be abandoned by the merchants. Lin Lubin, CEO of Tengshi Shares, said: In the era of mobile Internet, smart cash registers will not only be a payment tool, but also a management platform for merchant services, and a marketing tool for consumer behavior analysis. However, traditional cash registers cannot meet merchants’ payment for cashiers. The needs of business management and financial services will be replaced sooner or later. Coincidentally, in December 2015, Sun Taoran, the chairman of Lakara, also stated at the new product launch conference that “the traditional pos machine will disappear within the next three yearsâ€.
3. Products lacking strong financial support: Commercial products have high functional requirements and long sales cycles, so they require a large amount of capital investment in product development and market operations. Therefore, those enterprises and products with low capital reserve values ​​will be more financially difficult, and it will be difficult to maintain and expand the scale in the coming year, and will face greater elimination pressure. They may be start-ups that can't complete a new round of financing in the past six months, or they may be small vendors that have no other big backs and struggle alone.
4. Products with weak market channel network: The promotion of merchant-side products requires a sales team with strong ability to push, not only to seize the merchant market, but also to establish a market channel for rapidly spreading products. At present, those professional intelligent cash registers have been cultivating the market for many years, and most of the converted cash register agents and teams have been harvested. The market advantage is particularly obvious. Recently, several well-known payment institutions have bundled smart cash registers to promote them. They are also early in the market. There are advantages, and the situation is embarrassing, that is, those small brand manufacturers that follow the market, it is inevitable that due to insufficient user volume and fragile sales channels.
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In-depth analysis of the 2015 smart cash register market
In 2015, China's mobile payment battlefield can be described as a smoke. In the user side, Alipay and WeChat pay offline to attack the city, subsidies, concessions, red packets and other means to seize the market, then UnionPay announced at the end of the year with Samsung, Apple and other mobile phone giants cooperation, NFC "flash payment" is about to rise, Huawei, ZTE and other mobile phone manufacturers have also joined the payment battlefield. The giants are working hard, and the mobile payment client market has been fully erupted, which will inevitably force the upgrade of the merchant market. Therefore, the current overall pattern of mobile payment merchants is: professional intelligent cash register manufacturers occupy a dominant position, with first-mover advantage in market, function and technology; traditional cash register with strong hardware strength but lack of software development strength The transformation manufacturers constitute the second echelon; the scanning code equipment manufacturers with single function, weak technology but low cost and simple operation have a certain user group in the small and micro enterprises. 2, the lack of Internet thinking operation of the collection products: such as those simple scanning equipment, although in the short term can solve the collection problem, but limited by the low technical content, can not provide the Internet era business needs of the business needs, will gradually lose market. In this regard, some traditional cash registers that have just started to “smart transformation†are equally worrying. If you only add a function of scanning code payment, what is the “smart†content of such “smart products� In order to achieve sustainable development, it is necessary to be able to cut the pain points of the merchant market and integrate all the demand functions to help merchants truly realize the operation of Internet and big data.