Will Jingdong Finance's investment in UnionPay be a step in the game?

China UnionPay and JD Finance recently signed a strategic cooperation agreement, and the payment company of JD Finance officially became a member of China UnionPay.

According to the official explanation, this cooperation, Jingdong Finance's payment company online banking online will officially become China UnionPay acquiring member institutions, can carry out the UnionPay card online and offline acquiring business. At the same time, according to the cooperation agreement, the two sides will also cooperate in the payment of product innovation, joint card, rural finance and other aspects, and jointly explore cooperation opportunities in more fields such as big data services and international business. Through resource sharing and complementary advantages, we will jointly create an open ecology of “finance + Internet” and bring more convenient, safe and efficient financial technology services to users.

Such a Mandarin can actually be ignored. Don't say that the general public, that is, financial professionals or the media, can hardly make it clear. It can only be seen at a very high level.

To put it simply, Jingdong joined the offline ordering line built by China UnionPay. Since then, it has been a brother with UnionPay. Of course, it can only be a younger brother.

However, this is not the first cooperation between Jingdong and China UnionPay. If we take the time back to 2011, which is the most meaningful for China's third-party payment, on the 517th telecom day of that year, Liu Qiangdong suddenly announced that it would sever the cooperation with Alipay, and in August, Jingdong joined the UnionPay Business Online. Among the partners, since then, Alipay has become a passerby.

It was also in that year that China UnionPay felt defeated after losing Alibaba's high salary and began to counterattack Alipay in many ways. Jingdong was subordinated to China's largest payment platform by China UnionPay's "disgusting", and the refusal cooperation with Alipay made Jingdong still suppress Jingdong, and may come to conclusion after many years.

On September 23, 2015, Jingdong Finance and China UnionPay cooperated to launch “Flash Pay”, which was used by UnionPay cloud flash payment technology to reach over 19 million UnionPay flash POS machines nationwide, covering more than 8 million merchants. .

In the field of acquiring orders, TenPay is also a partner of China UnionPay. This is why the initial cooperation bank for Tencent's payment system is very small, and suddenly there are so many banks connected. However, since then, Tenpay has lost its independence, forcing Tencent to come up with a "WeChat payment" as a vest to get rid of the control of UnionPay.

After all, the only possibility for Jingdong to join the UnionPay acquiring system is to change its cash on delivery. We can imagine that soon after, Jingdong’s “cash on delivery” will be paid by QR code, and the courier will no longer need to use the credit card or Alipay WeChat cash payment. When the user arrives and the goods are inspected, the user can open the Jingdong APP client to scan the QR code in the hands of the courier to pay, which can reduce the chance of making a wedding dress for WeChat payment, and also improve the usage rate of Jingdong APP. It can improve the usage rate of Jingdong Financial APP, and it belongs to one arrow and three sculptures.

In 2016, there is data showing that Jingdong's current cash on delivery ratio is 42%. This 42% also includes a large number of “cash on delivery” that is transferred to the courier through Alipay. The specific amount is probably only Jingdong’s own heart. Knowing the truth. Cooperation with UnionPay can at least form a solution for this part.

However, everyone is very clear that China UnionPay is playing two hands, one hand on the WeChat payment and Tenpay's offline action, one eye closed, one on the other hand dead Alipay, obviously in the court battle in Chinese history The best way to divide and disintegrate. Liu Qiangdong suddenly fell ill before the press conference. The head of UnionPay still supported it alone. It was decided that there was no ability to pay for the help of Alipay who had asked for help more than a decade ago. It also indicates that although Jingdong joined the UnionPay camp in action, Still unwilling, the future cooperation between the two sides will stay on the PPT.

Although Jingdong Finance is far less than Ant Financial, it has also suppressed the financial business of other companies and even Tencent by rushing to catch up. It ranks second among domestic Internet finance companies, if it can be characterized by consumer finance and crowdfunding. The development of the field will remain the second most promising financial technology company. However, Jingdong Finance is limited by the commercial base of Jingdong B2C and the scale of the number of users. In order to join Changxin and China UnionPay's brothers in a hurry, the future development will be difficult to achieve independence.

The US group is struggling, is it that Jingdong has given up? JD is most likely to become the fourth pole of China's Internet. JD Finance is already the second in China, but its continuous investment in the payment field may cause it to lose its position in the Internet forever. People only remember that JD is a Tencent-based enterprise, JD. Finance is a partner of UnionPay.