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Three pillars of mobile payment? Who is the last winner of Alipay, WeChat and cloud flashover?

As one of the top four new inventions in China, halo mobile payment. In the past few years, it can be said that China has completely overturned the payment habits of users in all walks of life in China. It has truly made the "cash free society" a reality, and the "protagonist" of the market has been occupied by Alipay and WeChat two Internet giants for many years. According to the quarterly monitoring report of China's third party payment mobile payment market released by Yi Guan, the second quarter of 2018, Alipay and Tencent share 53.62% and 38.18% respectively, accounting for 91.80% of the total.

It is said that the closer the industry is to money, the easier it is to make money. This is also one of the main reasons why many giant enterprises such as wing payment, baidu wallet and Jingdong finance want to squeeze into the mobile payment head group, but they have not set off a big wave. Now, UnionPay cloud flash payment with 'pure financial pedigree' enters the arena in a high-profile way, which seems to be expected to become a potential black horse.

In the Internet age, it seems that it is difficult for new entrants to succeed in a large industry that seems to have developed well. From the perspective of potential competitors, it depends on the potential benefits brought by the entrant's subjective entry, as well as the existing players' economies of scale, network effects, product differences, business models and profits Whether there are loopholes in areas such as profitability and capital strength.

For example, there is no obvious loophole in the electricity supplier industry and the mobile payment industry, so when people are successful in killing the electricity supplier, it will be unbelievable. However, the success of many businesses can be said to be mainly due to the relatively blank market in the electricity supplier industry, social networking, but the UnionPay cloud flash payment seems to be in the same direction as Alipay and WeChat, which is to be torn out. The gap of mobile payment.

As we all know, since entering the second half of the mobile Internet, the customer acquisition cost of various industries has been rising, especially in the financial field, traffic resources are scarce. But UnionPay cloud flash payment can obtain more than 100 million users in one year, and its achievements are indeed worthy of affirmation. As for the reasons for the rapid rise of cloud flash payment, in my opinion, it mainly lies in the following aspects:

Offline scene layout.

Since the concept of new retail was put forward, the competition for offline scenes has gradually become the core direction of competition in various industries. For the payment industry, offline payment is an important scenario for development. In terms of segmentation, the most urgent and high-frequency demand is the core scenes of daily applications such as the food market, public transport, subway, catering, supermarket convenience, campus, medical and health care, traffic fines, etc. I believe you have recently taken the bus, shopping and other consumption, in addition to Alipay and WeChat payment, has been able to often see cloud flash payment to pay two-dimensional code.

After all, cloud flash payment as a sub product of UnionPay, led by UnionPay's advantages in the market, has greatly reduced the resistance to enter the market. It is through the continuous increase of the permeability of these scenes that cloud flash payment is able to rise rapidly. In fact, these seemingly unrelated different scenarios can bring synergy to users through various marketing means. Obviously, the move of cloud flash payment is just right.

However, racing together bridle to bridle with Alipay and WeChat is also a great challenge.


For every user involved in finance, the most important thing is whether the safety of funds can be guaranteed. Even if the third-party payment platform blows the sky high, it is difficult to resist the golden signboard of "bank". Obviously, the relationship between UnionPay and banks is more 'intimate' than that of Alibaba Tencent, and UnionPay also has the most compliant identity in the central bank's regulation and supervision of third-party payment, so on the level of capital security, although the gap is very small, cloud flash payment is slightly better by 'Pinda'.

Technological foundation

From a technical point of view, the UnionPay paid in the field also has a solid foundation in the field of mobile payment. Unlike Alipay and WeChat, with the help of two-dimensional code layout, UnionPay has been promoting the application of NFC technology in the field of mobile payment. The mobile payment tools you hear everyday, such as apple pay, Huawei pay and Xiaomi pay, are actually cloud flash payment products, with NFC technology behind them. At present, cloud flash payment has supported the one click activation of Android NFC mobile phone flash payment of 43 banks, including industry, agriculture, China, construction, transportation, CITIC, Huaxia, etc.

UnionPay has published such a group of information:

*'in the aspect of scene expansion, UnionPay has made significant breakthroughs in the field of people's livelihood such as metro public transportation. For example, Guangzhou Metro has opened UnionPay mobile phone flash payment across the whole line. In just over two months, the number of daily flash payment transactions has reached nearly 300000, and the proportion of mobile phone flash payment keeps increasing, leading all kinds of mobile payment products. With the ultimate convenience of' pay as you go ', UnionPay is favored by the majority of passengers. '

It can be seen that the unsatisfied rigid demand scenario still exists, but only from the perspective of payment experience, NFC near-field payment technology has fast interaction speed, high security coefficient, and does not need to store a large amount of user information, which is more secure for the user's capital and privacy security. However, the combination of 'NFC mobile phone + flash card + Flash pos' limits its customer base and usage scenarios, and the marketing effect is not ideal. But it is worth affirming that cloud flash payment does bring significant upgrades. With the technology update and iteration in the future, it is not impossible to subvert the payment industry again. It seems that the advantages of cloud flash app do exist in some aspects, but they are not enough to play a decisive role in the short term. However, the fetters of cloud flash app on the way forward are also obvious.

Traffic & ne; users, changing user habits is not so easy

The mobile payment industry can present today's scene. In fact, it is also due to the hard nurturing of Alipay. We should know that in the market education stage, Alipay has spent a lot of cost, through advertising, subsidies, promotion and other ways, it has changed the user's habit of payment step by step.

Nowadays, it seems that downloading an app and signing in is a simple thing. But in fact, users have already passed the period when they have strong curiosity about all kinds of apps. What they are after is how to simplify the apps in their mobile phones to the maximum extent, and it is even more difficult for them to install a new app that is not just needed.

Therefore, for the vast majority of industries, a new enterprise wants to occupy a place in the industry, a large number of preferential subsidies and advertising marketing bombing has almost become an essential link, especially in the financial industry, the cost of acquiring new customers has risen from several blocks, dozens of blocks, all the way up to hundreds or even thousands of blocks.

In the case of cloud flash payment, since it was launched on December 11, 2017, various modes of money distribution subsidies have been continuously launched, so that more than 100 million registered users have accumulated in less than a year. But it has to be said that although this way of gaining customers can rapidly increase registered users in a short period of time and form a huge reputation and communication effect, it often faces the awkward situation of being "fleeced" - once the subsidy activity is completed, the newly registered users will become zombies and will never trade again.

It is not hard to see that under the current market pattern, it is difficult to support the rise of a super app by subsidies. But if we can't cross the natural barrier from traffic to users, it will lead to the chain reaction of the degradation of core capabilities such as customer acquisition, operation and product. Under the scale oriented assessment mechanism, the higher the dependence on external traffic, the lower the customer retention rate, and then it will fall into a vicious circle, and then it will go to the road of no return.

Therefore, in order to truly occupy the user's mind, we need to let users have just needs for it, gradually cultivate the user's use habits, and create a super entrance with real market competitiveness.

Ingrained Alipay and WeChat, however, one of the biggest business scenario ecosystems is the one that controls the largest social networking environment. The other is the largest social platform in China's Internet. It is deeply rooted in the field of online shopping and social red envelopes, including the payment habits under the line have been basically cultivated. The functions of transfer remittance and convenience life services are also available for Alipay and WeChat.