Two-dimensional code payment, fierce competition, bank borrowing power, aggregate payment

Aggregate payment will be more convenient

Many consumers may have this experience: When paying with a QR code, the cashier usually asks “Alipay or WeChat”? This means that different organizations can only support their own QR code payment channels and are not compatible with each other. In simple terms, you can't use Alipay to scan the QR code of WeChat, or use WeChat to sweep the Alipay QR code to complete the payment.

Aggregate payments are created to solve this scenario. It is understood that the aggregation payment is to integrate the channels of banks and non-bank payment institutions, and to be compatible with all parties through technical means, to provide a unified back-end management system for merchants, and to unify various payment methods and interfaces to merchants, no matter which The payment tool only needs to scan the same QR code to complete the payment.

“It is better to understand the usage scenarios. The merchants who use aggregate payment only need to put a QR code at the checkout counter. Whether the customer uses Alipay or WeChat or UnionPay, they can pay by scanning the QR code.” Xu Jianping, general manager of the Internet Finance Center of Shanghai Branch of Shanghai Pudong Development Bank, told reporters that aggregate payment can optimize the use of QR code payment, which is more convenient for consumers.

By means of aggregate payment to compete in the market competition

The reporter learned from a number of banks that in addition to several large banks that have already launched their own QR code payment products, such as Industrial and Commercial Bank, China Construction Bank, etc., including Xingye, Pudong, CITIC, Ping An, Hengfeng and many other joint-stock banks. Has joined the team to develop and promote aggregation payments.

“Obviously, the reason why more and more banks do aggregate payments is to find a suitable entry point to force the QR code payment market.” A person in charge of the retail marketing department of a joint-stock bank told reporters that the current QR code payment market The pattern has basically been set. The market share of WeChat and Alipay will definitely have an absolute advantage. It is basically impossible for traditional banking institutions to rely on their own strength to obtain an important market share. Aggregate payment is the best way to cut.

As we all know, under the development tide of mobile payment, major institutions have begun to build their own mobile payment ecosystem in the past two years. From banks, UnionPay, Alipay, WeChat, to Jingdong and Baidu, various organizations have launched mobile payment products. There are more and more types of QR codes at the merchant's checkout counter, but each only supports its own payment channel.

"Aggregate payment does not affect the original market share of each institution. It is only compatible with everyone's system and open the payment channel. Therefore, more and more banks and non-bank institutions can join in." The reporter said.

Aggregate payment or usher in the development of the vent

With the innovation of the business, the chaos of the industry has begun to emerge, and the “two clear” risks that are subject to regulatory attention are one of them. It is understood that "Second Qing" refers to a unit or individual that has not obtained the permission of the People's Bank of China to pay for business. With the support of a licensed payment institution, it borrows the channel of the licensee, but actually engages in a payment service and a fund clearing business. Irregularities.

Aggregate payment is theoretically only an intermediary for information services. All funds transfer, liquidation, and risk control are handled by licensed payment agencies. However, some payment institutions still have "two clear" behaviors, and even there are customers who deposit customers. The phenomenon of funds lays a hidden danger to systemic financial risks.

In order to standardize the development of the aggregate payment market, the central bank issued the "Notice of the People's Bank of China Payment and Settlement Department on the implementation of the illegal "aggregation payment" service cleanup and rectification work" and the "People's Bank of China on the continuous improvement of the level of the service level and promotion of the collection." Guidance on the development of single service market.

According to the contents of the above two documents, the aggregate payment service organization is positioned as “acquisition outsourcing service organization”, and in accordance with the bank card acquiring business management requirements, it is clear that the aggregate payment service organization shall not engage in fund settlement and acquiring business transaction processing. Accept the core business of the acquiring terminal such as terminal master key generation and management.

According to industry analysts, after the tightening of supervision, some payment companies that did not meet the regulatory requirements were gradually cleared out, which is also the reason why banks began to pay for aggregate payments. “Aggregate payment still has great potential for development. The development of the industry will also drive the demand for mobile payment services for large and medium-sized merchants under the mass line. Wang Pengbo, senior analyst of Analysys Financial, said that “a licensed third-party payment company cannot do this. The full coverage of the market requires organizations like aggregation payments to help open up external channels, and aggregate payments are therefore welcoming the development. ”