Smart POS utilization is not high, but he said it is the future!
At the end of June this year, the results of the fourth batch of non-bank payment institution license renewals were released. The central bank once again cancelled 9 payment institutions, and the two companies were reduced in business scope. The market payment license was reduced from 270 to 246.
In addition, the agglomeration effect of market share is further reflected. According to Analysys data, in the first quarter of this year, the transaction volume of China's third-party mobile payment market reached 18.8 trillion, and Alipay and Tenpay accounted for about 93% of the mobile payment market. This means that the remaining 242 third-party payment companies have been compressed to 7% of the market.
It is obviously not an easy task to break through the red sea in the payment field.
In fact, although the payment service is “just needed†in the financial sector, it has long been caught in a market-saturated and competitive situation because it does not have a high technical threshold. When the industry dividend period passed, on the one hand, industry profits began to thin. On the other hand, the financial risks caused by violations were further exposed, and the industry ushered in unprecedented strict supervision. Whether it is actively seeking or being forced by the market, in the past few years, various payment agencies have initiated the pace of transformation. However, it is also a transformation, and the direction and path of transformation are very different.
The battle for the payment scene between the giants began in 2013. With a small QR code, Alipay and TenPay quickly captured a large number of offline payment scenarios with a very low cost and extremely light mode, and easily transitioned offline. Since then, Baidu and UnionPay have joined the battle, and the two-dimensional code has brought a subversive impact on the pattern of traditional credit card receipt. As the scene competition is still intensifying, the aggregation payment industry chain has emerged.
In the second-tier mid-size payment institution, mergers and acquisitions with the advantage of the scene seem to be a way of transformation. At the end of 2014, the same money was used to make a fuss about the scene, and it was sold to Wanda. At that time, Guan Guoguang, who was at the helm of the fast money, said that it was Wanda’s complete offline consumption scene and data. The third-party payment institutions such as Expressway and Qianbaobao, which have the same situation, have been acquired by enterprises with payment scenarios such as Haier and Meituan.
Several medium-sized third-party payments, such as Remittance World and Epro, were hit hard in the early 2014 due to pre-authorization events, thus opening the path of “broken arm†transformation, relying on the previously accumulated agent network, payment data, and force accounts. In the fields of custody and wealth management services, after three years of transformation, basic new business growth points have been found.
In comparison, as a small payment company for the third echelon, the transition path is much more confused. The small number of merchants and insufficient data accumulation have become major obstacles to their transformation.
A related person in charge paid with him and said that considering that compared with medium-sized and large-scale payment institutions, there is no competitive advantage in the competition for quality merchants, so he began to try to shift the focus to the industrial chain outside the merchants.
“Many payment agencies have launched smart POS products. According to market research results, the utilization rate of smart pos is not high, but smart POS must be the future development trend, and it will be based on applications. But everyone is emphasizing The screen is bigger and cheaper, so we are willing to make some layouts in this ecology." A related person in charge said.
In addition, for these small and medium-sized payment institutions, it seems that a loyal fan of the UnionPay QR code at this time is also a good choice. After the official launch of the UnionPay QR code product series in 2017, UnionPay teamed up with various banks to promote it. The founder of a small payment agency in Shanghai said that at this time, grasping the partnership with UnionPay is crucial to the payment institution. "All the policies that UnionPay is now giving are more attractive. The marketing subsidies are more attractive to merchants and users. For us, it is a great benefit."
Of course, it is indisputable that the “gray innovation†of the payment industry is still non-stop. The author found that in order to meet the needs of card-raising, cash-out and set-up, almost all traditional offline acquirers are still maintaining the “innovative†attitude of illegal operation mechanisms such as set-up cash, similar to “one machineâ€. Services such as “500 merchantsâ€, “one machine, 22 industries†and “remote recording†are still emerging.
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