Items:

We visited China Alipay on April 29, 2014. Lin Xiaofeng, the company's chief investment officer, introduced the company's payment business progress and future plans. The main points are as follows:

Summary:

1. The prepaid card industry is very fragmented, with the largest prepaid card company having a market share of less than 1%, or more than 20 billion. The industry is very rudimentary, the basic function is as gifts and tax avoidance.

two。 Now the payment of the QR code has been stopped by the central bank, and the online payment is not in line with the line of thought regulated by the central bank. The central bank's idea is to separate online and offline. Micro-POS is not certified by UnionPay, so it has technical risks and conflicts of interest pattern. Prepaid card is micro-payment, which is the carrier and tool of micro-payment, which is different from the large account system of banks. In addition to separating online and offline, the central bank should restrict super accounts and cannot compete head-on with banks. In fact, the position of the central bank for third-party payment is mainly micro-payment and fragmented financial services.

3. The central bank is no longer expected to issue national prepaid card licenses. The main reason is that there is no cross-regional usage of prepaid cards in China, coupled with anti-corruption.

4. Traditional offline business through online business and payment settlement, this process is not easy to achieve. With more than 3,000 people, the workload of landing is very heavy, and landing is labor-intensive. The ability of merchants to implement IT is also a major problem.