Under the background of the rapid development of third-party payment, mobile payment presents a "fragmentation" trend, and the diversified payment needs of users prompt offline businesses to obtain diversified transaction collection capabilities. As a result, the fourth party aggregate payment came into being. Although the development time is not long, aggregate payment has gradually become a major trend in the future payment industry.
What is the total payment?
Aggregation payment is a payment interface integrating various Internet payment methods, which realizes the integration of various QR codes at the cashier's desk of merchants and provides a unified platform and background management system for merchants.
With only one construction, various payment methods can be connected to merchants, and unified reconciliation and fund management can be provided, thus providing consumers with a convenient payment experience.
In fact, it is also very common in life. For example, if you go to a small store to buy water and scan the QR code, not only WeChat and Alipay can pay, but other platforms can also pay, that is, the fourth-party payment-aggregate payment.
What can aggregate payment bring to enterprises?
In China, after going out, you will find that almost all merchants have access to aggregate payment, no matter in large supermarkets, shopping malls, snack bars and convenience stores in the streets and lanes, and aggregate payment is spreading rapidly in the whole payment market with unstoppable momentum. The changes brought by aggregate payment to merchants can be reflected in the following points:
1. Aggregation payment meets diversified payment needs and saves payment time.
Now everyone pays by mobile phone, so when customers consume, they will basically choose his usual payment method. Merchants should meet the payment needs of customers. So the cashier will be filled with all kinds of QR codes. In addition to occupying space, customers have to scan the code accordingly.
After accessing the aggregate payment, the problem can be solved with only one QR code, and the merchant can find the account information at any time regardless of the payment method. It is very convenient for customers and businesses themselves.
2. Using aggregate payment merchants can improve business efficiency.
In addition to the payment function, aggregate payment also provides marketing management, and merchants can inquire about the operation of stores anytime and anywhere and adjust their business strategies according to real-time data. For example, the retail industry can understand consumers' preferences according to sales data, create "explosive models", grasp the inventory situation in time, and increase sales.
In the catering industry, functions such as intelligent ordering and quick billing can be used to solve the ordering problem in busy hours, reduce the waiting time of customers and improve the service experience.
3. Aggregation payment can help merchants to carry out deeper marketing.
In the past, after the consumer paid, the business was over. However, the total payment is different. By paying, consumers become members and provide marketing tools for members. Enhance user stickiness and stimulate new consumption by storing value, collecting points, discounting and full reduction. Aggregation payment has created a membership-based marketing platform for businesses and increased repeat customers.
What are the problems in aggregate payment?
Like almost all innovative financial technologies, aggregate payment has developed rapidly, but the standards and norms of the market are far behind the pace of industrial development, so the rapid development of the market will inevitably bring many problems. The main problems focus on the following aspects.
1. Qing Er risk
To understand what is the "secondary liquidation" risk, we must first understand the capital flow of aggregate payment. At present, there are two channels for aggregate payment: one is the official channel, that is, the third-party payment platform represented by Alipay, WeChat payment and Wing payment; The other is banking channels, such as online merchant bank, Ping An Bank and Minsheng Bank. , all engaged in aggregate payment business.
Under the official channel, the aggregated payment platform will connect Alipay and WeChat payment for merchants. When merchants collect money, they will summarize the received money through two-dimensional code (or other cashier tools, such as code scanning gun and code scanning box) and automatically identify the source.
If consumers use Alipay, they will reach the Alipay balance of the merchant in real time. If it is WeChat payment, it will reach the WeChat merchant platform, and the merchant can go to the platform to withdraw cash into the WeChat wallet the next day.
Under the banking channel, the money received by the merchant will go to the bank first, and then be transferred to the bank card account designated by the merchant after the bank settlement. Generally, which bank channel you sign will be transferred to the bank card account.
The second clearing mode is that the aggregation payment platform will package itself as a big merchant and take the merchant it signed as its own sub-merchant. Officials and banks will settle the funds to this big merchant, and then this big merchant will settle it to its sub-merchants.
The risk of secondary liquidation is obvious. If there is a capital chain problem in the aggregation platform and the funds cannot be settled to the merchants in time, there will be a run.
The formal aggregation payment platform is not in contact with funds, that is, after the money received by the merchants arrives at the bank, the bank will settle it to each merchant one-on-one. Aggregate payment only does channel integration and will not intercept merchant funds.
2. Retention of sensitive information
In the process of QR code scanning, consumer's user ID, user account number, transaction flow and even user's mobile phone number may be obtained by the service organization of aggregate payment, so these sensitive information has become a huge hidden danger.
Many licensed payment institutions have experienced a large number of user information disclosure incidents before. As an emerging participant in the market, aggregate payment institutions have weak information storage and preservation capabilities, and the retention of these sensitive information in aggregate payment institutions may bring great risks.
3. Bad money drives out good money.
Aggregate payment is different from any participant in the traditional "four-party model" of the payment industry. There is only one service fee as the income source of the aggregate payment company. In the background of low transfer and clearing costs, it is actually very difficult to rely on the service of aggregate payment to make a profit.
However, domestic merchants, especially small and medium-sized Wechat business where aggregate payment is prevalent, are extremely expensive. They pay little attention to the safety of funds, and often use whoever has a low service fee. As a result, low prices lead to the problem that bad money drives out good money in the aggregate payment market, and a large number of low-quality service providers flood the market. The result of vicious price competition is market chaos.
Judging from the development trend of the payment industry, the trend of the industry from one cabinet with multiple computers (one cabinet with multiple yards) to one cabinet with one computer (one cabinet with one yard) is the general trend. With the national regulatory authorities regulating all aspects of the industry, aggregate payment will develop in a more compliant, healthy and innovative direction in the future, and will usher in a great opportunity for compliance development.
Aggregation payment is developing towards the comprehensive ecological direction of "payment+"
With the intensification of industry competition, the phenomenon of product homogeneity is becoming more and more serious, which urges institutions to continuously reduce the transaction fee rate. Joint payment value-added services have gradually become the main source of institutional profits, especially relying on all kinds of traffic in payment scenarios, and data services have great potential.
At present, almost 90% of aggregate payment institutions have launched various value-added services, among which the most common value-added services include operation management, member CRM, mobile e-commerce, advertising and comprehensive marketing.
1. Operation management: Take the merchant's collection transaction as the breakthrough point of the supply chain and management chain, and expand the functions of the cashier system to procurement, warehousing and sales, store management, etc. For example, provide cashier, take-away and small programs to stores; Application, customer management and other operational support services, providing automatic store opening and closing, automatic loading and unloading, automatic settlement, intelligent inventory management, etc.
2. Membership system: Establish an online membership management system for merchants through small programs and WeChat official accounts to realize the mode of joining members when paying for consumption. For example, innovative SaaS products and smart member management solutions have recently been launched, based on two core services: member marketing service and WeChat official account agency operation.
3. mobile e-commerce: build a mobile e-commerce platform, from payment aggregation to commodity service aggregation, relying on the accumulation of C-side traffic. For example, based on the high-quality content e-commerce platform of WeChat official account, offline businesses and urban coverage will be settled.
4. Advertising marketing: In the process of scanning code payment, consumers can achieve three accurate initial arrivals on the payment page, payment confirmation page and result notification page. For example, the new mobile payment media based on payment has the advantages of integrated marketing, accurate delivery, diversified delivery, wide coverage and strong interaction.
5. Integrated marketing: help merchants to acquire new customers and provide intelligent marketing foundation. Through marketing analysis, thousands of people can be realized and the efficiency of supply chain can be improved. For example, based on diversified marketing and operation services, it provides store operating income for offline entity chain stores and realizes intelligent operation.
Through new infrastructure, aggregate payment is expanding rapidly.
The development of mobile payment has led to the rise of a number of intelligent software and hardware infrastructure products: multi-scene infrastructure, financial-grade interconnection technology, vertical products deeply excavated in the industry, the popularization of software and hardware compatible products, and the development of SaaS tools and software for merchants.
1, diverse scenarios: seamlessly connect various payment scenarios, realize the intelligentization of offline merchants' mobile payment, realize the networking of things, lighten the terminal, and promote large-scale popularization. For example, with the rapid popularization of smart terminals, a device management platform will be launched to help establish a mobile payment Internet of Things platform on payment platforms and services.
2. Financial technology: build a platform to connect merchants and third-party payment transactions, and provide financial security and data processing capabilities. For example, financial institutions have higher requirements for security technology. Through in-depth cooperation with banks, the technical strength of service providers has been fully precipitated, and the security level is relatively high.
3. Vertical open source: go deep into the industry demand, make a clear positioning, and help B-side businesses improve efficiency, reduce costs, promote marketing and expand operations through targeted products. For example, through the SaaS service at B-end and the products at C-end, problems such as restaurant efficiency, management, marketing, cost and customer dining experience can be solved.
4. Combination of software and hardware: providing services according to the needs of merchants, retaining members with compatible terminal products, member marketing, member stored value consumption and other functions. For example, provide the most valuable comprehensive solution of business intelligence hardware+professional business UI+ virtual operation platform.
5.SaaS tools: Provide professional SaaS software and hardware tools for businesses, so that businesses can provide consumers with more diversified services and improve operational efficiency. For example, through the SaaS model of software and hardware integration and cloud integration, a SaaS product group covering improving efficiency has been created.
China's payment industry leads the world, and China is the first to enter the "cashless society". Now, the payment industry is undergoing reshuffle and reorganization.
The Report on the Development of Aggregation Payment Industry in China 20 18 shows that the contribution of Aggregation Payment to the whole society will continue to increase in the future. Further promote the real economy under the service line, practice inclusive finance, and promote the quality and efficiency of financial services.
JD.COM Doraemon Aggregate Payment is becoming the leader of mobile payment.