Mobile payment: Who will die before dawn?

Mobile payment is a miniature river in a pig cage city. Not everyone has the opportunity to see the dawn.

If mobile payment is likened to a building, the first floor will definitely be a mobile phone manufacturer. Unfortunately, most of them are not climate, and Applepay has evolved into a formidable business form. The second floor is a third-party payment platform with Alipay and paypal. The most beautiful means of payment at this stage; the third floor is the Square model of peripheral hardware. Once the star of tomorrow can't afford the mortgage, the house has to be redeemed; the role of UnionPay is not like the tenants, it is similar to the building management. He, he has an intersection with everyone, but he has a deep understanding with everyone. What is more than a Union of Communications is the communications operator. It is a bit like a property, trying to maintain the normal operation of the entire building, but any business of the residents. They have nothing to do with them. As for some traditional retailers who want to pay for the group, it is like a street vendor outside the building. It’s too difficult to want to enter the building to make a business.

In this miniature river like the cage city, not everyone has the opportunity to see the dawn.

Bigger and bigger business! Manufacturer group led by Apple pay

In the past two years, mobile payment has become hot, SMS payment, scan code payment, fingerprint payment, and sound wave payment have appeared, but Apple has been hiding, which stems from the innovative philosophy of Steve Jobs: the technology and experience are not mature. Before, it was never easy to get involved. The birth of Apple pay, indicating that Apple is determined to move, Apple Pay integrated with fingerprint payment + NFC near-field payment to get the underlying technical support of Secure Enclave, security and experience are guaranteed. Before Apple, there were no manufacturers who had paid for the idea of ​​payment, but most of them were still waiting for Apple to indicate their direction after waiting for the picture. Apple pays as soon as possible, and everyone realizes that this is the case. .

Apple pay shows that Apple has mastered the three core principles behind the success of mobile payments:

1, let the user feel at ease

Although Google Wallet, which has been launched in 2011, has NFC, Gmil mailbox payment, and instant purchase APIs, it can be associated with credit cards and other magic weapons. However, the open features of Android make mobile phone manufacturers and distribution channels different. Google does not have enough. Means communicate with users in real-world scenarios, which has caused Google Wallet to remain stagnant.

Apple does not have such troubles, Appstore already has a certain form of payment, and Passbook has the experience of membership card association. TouchID experience is better than most Android phones, plus SecureEnclave information storage security mechanism can cope with Attacks, including brute force attacks, are enough to give users peace of mind.

2, let the financial reassurance

The traditional financial system has always been afraid of any innovation in the payment field, but Apple pay pays special attention not to touch the last cheese, it is just a rich credit card usage scene, instead of trying to replace it, all information is encrypted, Apple also Not getting credit card information is enough to reassure the financial system.

3, make retail comfortable

This is only half of Apple's, McDonald's, Subway, Starbucks are willing to cooperate, and Wal-Mart always has a boycott. Normally, retailers have no reason to reject Apple pay users, not to mention that this is still a high-end crowd. Wal-Mart's rejection stems from the fact that this veteran entity is brewing a new thinking far beyond the traditional retail format. There is no such "giant disease". The merchants have no such concerns.

Third-party payment: A tree pear blossoms?

In the PC era, the third party represented by Alipay paid a unique show, but it was invincible, but the rapid arrival of the mobile era made Hu Ali’s Alipay suddenly have a sense of crisis in the dawn, because who is mobile payment? The dominant pattern is still far from being formed.

According to the data of Q3 in 2014, the mobile payment market of third-party payment is still the largest in Alipay wallet, with a share of 79.26%. In the in-app payment market, Alipay also leads with a share of 66.82%, but the two markets are actually Not stable. WeChat and QQ mobile payment is growing rapidly, and the Baidu wallet after the integration of Baifubao can not be underestimated. Especially if the direct access mobile portal is really effective, Baidu wallet will have the strength of calling Alipay and WeChat.

The bigger threat is Apple. "Look at what we can do together!" Ma Yun is not surprised at Apple's sticking out of the olive branch, because Apple is eyeing the traditional finances. Once the two sides reach deep cooperation, all payment information can be encapsulated in Apple Pay's cloud encryption operation, Apple Naturally, there is a road to direct communication between banks, card-issuing organizations and offline merchants. The worst result is that all third-party payment platforms will be out. Therefore, the cooperation between Apple and Ali in the US stock market is really exciting at the capital level. Ma Yun’s ambition is to turn Apple pay into a huge offline channel for Alipay. Cook’s idea is to bypass the long and arduous negotiation with traditional finance. Entering the Chinese market, the cooperation between Apple Pay and Alipay is not so much about who is flickering. It is better to say that it is necessary to take care of each other.

What makes Alipay worry is the growing payment dreams of social applications. In the US, not only Facebook and Twitter, but even Snapchat, are launching payment and shopping functions. Innovative companies such as Venmo and Dwolla are also helping, and they are all without exception. Promote direct links with financial institutions. In China, various sharing-based P2P services driven by Airbnb are becoming more and more popular, and P2P payment is bound to flourish. The future payment pattern may not be the way Alipay imagines.

Square mode that can't wait for happiness to knock on the door

Some time ago, I chatted with the executives of Paypal China. I was deeply shocked by the Apple pay to him during the talks, but he was a little gloating for the first to bear the impact of Square instead of Paypal.

The core of the Square mode is the hardware combination of the peripheral mobile reader + smartphone, and the card payment is completed with the application. Strictly speaking, it is not like a system but similar to the handheld cashier. Square hardware is free, and the income is mainly From trading commissions, this model represents the initial form of mobile payments, and there are also followers around the world, such as La Cala.

In Square's worldview, it has no contradiction with anyone. It is ready to access Apple pay. It supports the US public commentary yelp and the post-burning Snapchat. It also seems to be self-denying and innovative. It can shoot Square. Wallet turned to Square Order and Square Cash. In order to support the replacement of magnetic cards from magnetic strips to chips, it also introduced the latest card readers. Square's cooperation with Starbucks has always been talked about.

However, the use of peripheral hardware to get through the mobile payment model is inevitable and outdated. In an era of faster and lighter, extra hardware will only be a burden, maybe Square tamed with integrated Apple pay or serve Snapchat. Such a strong application is a viable way out, as its Chinese disciple Lakara has long since switched to play community e-commerce.

Is there a line of happiness behind the dark clouds? - traditional financial camp

This camp is alienated into two categories: one is the channel financial aircraft carrier who is obsessed with controlling the settlement channel and monopolizing the offline receipt, such as UnionPay, and the other is lost in the Internet era. It is described by Ma Yun as a murderous tradition. Banks and financial institutions.

UnionPay in the mobile era does have two preparations, but it is hard to do both hands:

1. The ban

Since 2012, UnionPay has issued frequent rectification notices for third-party payment. On August 13, 2014, it has also convened a special meeting. Recently, it issued a Notice on Further Clarifying the Relevant Requirements for Violation of Regulations. A clear timetable for tripartite payments, but UnionPay lacks the strength and means to fulfill the threat. While the central bank expressed its support, it also clarified the attitude of the Deputy Director of the Payments Department, Fan Shuangwen: "If it is administrative supervision, UnionPay is far enough. Not!! The so-called rectification is defined as "recovery corrective correction, not a fine!"

2. Cooperation

UnionPay has been seeking breakthroughs through cooperation. It is optimistic that NFC technology has deployed more than 3.6 million Flash Pay POS in advance. However, due to the imperfect security mechanism of Android mobile phones, Apple has been unable to move. UnionPay can only expect the era of chip credit cards to come as soon as possible. The launch of Apple Pay has made UnionPay see an excellent opportunity to open up third-party payments. Android pay is followed by it. It’s no wonder that Ma Yun is panicking. This is probably the first time that UnionPay has a real chance to threaten. Alipay is the core third party payment.

China's major state-owned banks also have mobile payment products, such as CCB Mobile Banking, ICBC E Payment, etc., but most of these products are still in the development mode of “Leader leads and the leader leads”, and the bad user experience is in the mobile era. Extremely lack of opportunities for survival.

Quiet and quiet, almost lost operator

At least China Telecom's Big Three Mobile, China Unicom and China Telecom are all interested in mobile payment, and basically the NFC mode, mobile has and package, China Unicom has Wow payment, Telecom has wing payment, but these products have too few resources outside the system. The application scenario is very scarce, more like the homework that has to be handed over in the mobile era. The operator's mentality is also very complicated. They enjoy the traffic dividends brought by various innovations, and on the other hand they are worried about the OTT's nightmare happening again.

At the rise of near-field payment, China Mobile once called the board of China UnionPay's underlying control power, and proposed a unique 2.4G standard, PK UnionPay's NFC solution based on the 13.56MHz frequency band, but under the premise that UnionPay holds China's basic financial facilities, China Mobile The standard is completely unpopular, and its joint advantage with silver is increasingly marginalized in the mobile payment market.

In the creation of the payment system, operators instinct to exclude third-party payments, they rely more on fast payment, online banking payment, balance payment, mobile phone payment, solid electricity payment, POS receipt, corporate comprehensive payment, etc., which makes them have It may become an allied force of UnionPay and mobile phone manufacturers. If the three really form an alliance, it will really cause great changes.

No unrelated bystanders! Wal-Mart-led retail camp

When the mobile pioneer Starbucks chose Apple pay, Wal-Mart's refusal was particularly unusual. Wal-Mart, which has tens of thousands of stores in 27 countries, is obviously not willing to do nothing in the mobile era.

First of all, most companies in the United States have strong online awareness. Wal-Mart is not “brain blind.” Among the top 500 e-commerce brands in the United States, 205 are pure e-commerce, accounting for 41% of the total; The remaining 59% are online platforms for traditional companies, and Wal-Mart is one of the best. In the past three years, it has 12 acquisitions in the e-commerce sector, E-commerce operations centers in Texas, Pennsylvania and Brazil, and employs more than 1,000 employees in Silicon Valley. This year's online sales will reach US$13 billion, 30%. It is growing faster than Amazon, and according to Wal-Mart's own estimates, it can compete with Amazon in terms of distribution category and delivery time within two years.

It is this enthusiasm that makes Wal-Mart keen to plan the mobile payment layout. It led the organization of the Mobile Payment Network Alliance MCX (Merchant Customer Exchange), insisted on the development of the mobile payment tool CurrentC, and was determined to attack Apple pay. This attachment has almost caused the separation and confrontation of the entire US retail industry. Apple pay camp has Starbucks, Whole Foods Supermarket, McDonald's, Disney, Macy's, Sephora, Meijie Supermarket, etc. MCX camp has Wal-Mart, Best Buy, Target, Sears Department Store, Cole Department Store, Lloyd's Retail, Dilla Department stores, Southwest Airlines, Exxon Mobil, etc., the two sides are equal, distinct.

CurrentC uses scan code payment because Wal-Mart finds a “negligible truth” with the retailer's unique thinking: all phones have cameras, but not all phones support NFC! At the same time, CurrentC also collects a large amount of data, such as driver's license number, social security number, date of birth and other non-essential privacy information. It is said that in order to improve the verification system, Wal-Mart also specifically stated that it will not use the information for marketing. Despite this, CurrentC was hit by a hacker who had not yet been online.

Wal-Mart has a more ambitious plan, which is pushing a mobile banking product called "GoBank" with mobile payment function, in an attempt to close all transactions by running a dedicated payment network on the smartphone by providing a payment account. This thing obviously does not put all the banks in the eye.

In fact, it is not necessarily a good thing for Wal-Mart to be so arrogant and passionate, especially when it uses all its energy in the wrong direction. Maybe someone should say something to Wal-Mart: wash and sleep, or at least say: You really want more.

We have done so much analysis, right and as a reference, and finally add two more points:

1. If any of the above is really unfortunate before the dawn, please do not learn "Thaimen of Athens" blame the day, the truth is that no business model is dead in the hands of competing products, users have always voted with their feet, the real murder must be they!

2, we are mortal, just on the matter, really do not guarantee that the corner of a garage or cafe hides the next generation of Edison or Jobs, secretly drumming enough to change the world of innovation, the kind of killing of all products Don't be a science fiction!