Many mobile payment products, who will die before dawn?

If mobile payment is compared to a building, there must be mobile phone manufacturers living on the first floor, but unfortunately most of them are not climate-friendly, until Applepay evolved into a terrible business form; The second floor is a third-party payment platform, with Alipay inside and paypal outside, which is the most beautiful payment method at this stage; The third layer is the square mode of peripheral hardware. The former star of tomorrow can't afford the mortgage now, and the house is going to be redeemed. The role of UnionPay is not quite like a resident, but a bit like a building manager. He has an intersection with everyone, but he has a simple heart-to-heart talk with everyone. What is even more embarrassing than UnionPay is the communication operator, which is a bit like a property, trying to maintain the normal operation of the whole building, but any business of the residents has nothing to do with them. As for some traditional retailers, they want to pay collectively, just like vendors outside the building. It's too difficult to enter the building on a whim to do business. Not everyone has a chance to see the dawn in this miniature river and lake similar to the village of Pig Cage.

The manufacturer group headed by 1 Applepay

In the past two years, mobile payment has been hot, and SMS payment, code scanning payment, fingerprint payment and sonic payment have appeared one after another, but Apple has always been secretive, which stems from the innovative concept since Jobs: never take risks easily before the technology and experience are mature. The birth of Apple pay shows that Apple is determined before moving. Apple pay integrates fingerprint payment and +NFC near-field payment, and is supported by the underlying technology of Secure Enclave, so the security and experience are guaranteed. Before Apple, there were not a few manufacturers who had the idea of paying, but most of them still waited for Apple to point out the direction like "Waiting for Godot" after the brain map. When Apple pay arrived as scheduled, everyone suddenly realized that it was so.

Applepay shows that Apple has mastered three core principles for the success of mobile payment:

1, to reassure users.

GoogleWallet launched on 20 1 1 has several magic weapons, such as NFC, Gmil email payment, instant purchase API, and credit card association. However, due to the openness of Android, mobile phone manufacturers and distribution channels are separated, and Google does not have enough means to communicate with users in real scenes, which leads to the stagnation of Google Wallet.

Apple has no such trouble. Appstore has a certain form of payment, while Passbook has the experience of membership card association. The experience of using TouchID is better than that of most Android phones, and with the SecureEnclave information storage security mechanism, it can cope with attacks including brute force cracking, which is enough to reassure users.

Step 2 reassure your finances

The traditional financial system has always been wary of any innovation in the payment field, but Apple pay pays special attention not to touch the last piece of cheese. It only enriches the use of credit cards, rather than trying to replace them. All information is encrypted throughout the process, and Apple does not obtain credit card information, which is enough to reassure the financial system.

3. Make retail comfortable.

Apple is only half done. McDonald's, Subway and Starbucks are willing to cooperate, while Wal-Mart has always resisted. Under normal circumstances, retailers have no reason to reject users of Apple pay, not to mention the high-end crowd. Wal-Mart's rejection stems from the new thinking that is brewing within this established entity, far beyond the traditional retail format. Businesses without this "gigantism" have no such concerns.

2. Third-party payment: A pear tree presses Haitang?

In the PC era, the third-party payment represented by Alipay stands out and is invincible. However, with the rapid arrival of the mobile era, Alipay, which stayed up all night, suddenly felt a sense of crisis, because the pattern of mobile payment is far from being formed.

According to Q3 data of 2065438+2004, the mobile payment market of third-party payment is still dominated by Alipay wallet, with a share of 79.26%. In the in-app payment market, Alipay also leads with a share of 66.82%, which is a superficial phenomenon, but in fact both markets are unstable. The mobile payment of WeChat and QQ is growing rapidly, and the Baidu wallet after the integration of Baifubao should not be underestimated, especially if the mobile portal of the direct number is really exerted, Baidu wallet will have the strength to challenge Alipay and WeChat.

The bigger threat is Apple. "See what we can do together!" It is not surprising that Ma Yun extended an olive branch to Apple, because Apple is flirting with traditional finance. Once the two parties reach an in-depth cooperation, all payment information can be encapsulated in Apple pay's cloud encryption operation, and Apple naturally has a broad road directly connecting banks, card issuers and offline merchants. The worst result is that all third-party payment platforms are out. Therefore, the cooperation between Apple and Ali, two American tycoons, is really wonderful at the capital level. Ma Yun's ambition is to make Apple pay a giant offline channel for Alipay. Cook's idea is to bypass the long and arduous negotiations with traditional finance and quickly enter the China market. The cooperation between Apple pay and Alipay is not so much about who is fooling who, but rather about taking care of each other.

What bothers Alipay and Paypal is the dream of payment that social applications are constantly flooding. In the United States, not only Facebook, Twitter and even Snapchat are launching payment and shopping functions, but also innovative companies such as Venmo and Dwolla are contributing. Without exception, it is promoting financial direct connection. In China, various P2P services based on * * * enjoyment spirit driven by Airbnb are becoming more and more popular, and P2P payment is bound to become popular. The future payment form may not be what Alipay imagined.

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

I chatted with Paypal executives in China some time ago. During the conversation, I deeply felt that Apple pay gave him a great shock, but he was a little gloating that Square, not Paypal, took the lead.

The core of Square mode is the hardware combination of peripheral mobile card reader and smart phone, which cooperates with the application to complete credit card payment. Strictly speaking, it is not like a system, but it is similar to a pocket cash register. Square's hardware is free, and its income mainly comes from trading commissions. This model represents the initial form of mobile payment, and there are many followers around the world, such as Lacarra.

In Square's worldview, it has no contradiction with anyone. It is ready to access Apple pay. Support the American public to comment on yelp and Snapchat, burn after reading. It also seems to have a sense of self-denial. It can shoot plaza wallets and support plaza orders and plaza cash instead. In order to support the replacement of credit cards from magnetic stripe to chip, it also introduced the latest card reader. The cooperation between Square and Starbucks has always been talked about by people.

However, using peripheral hardware to get through the mobile payment mode is inevitably outdated. In an era when everything is getting faster and lighter, extra hardware will only be a burden. Perhaps Square's tame integration of services with strong applications such as Apple pay or Snapchat is the feasible way out. As for his China disciple Lacarra, he has already switched to playing community e-commerce.

4. Is there really a happy line behind the dark clouds? -Traditional finance

? This camp is alienated into two categories: one is a channel financial carrier that is obsessed with controlling settlement channels and monopolizing offline receipt, such as UnionPay; The other is feeling lost in the Internet age, and Ma Yun described it as a traditional bank and financial institution with the impulse to kill.

UnionPay in the mobile era does have two hands to prepare, but it is impossible to be both hard:

1, class

Since 20 12, unionpay has frequently issued rectification notices to third parties. August 14, and a special meeting was held. Recently, the Notice on Further Clarifying Relevant Requirements for Violation of Regulations and Rectification was issued, giving a clear timetable for cutting off third-party payment. However, UnionPay lacks the strength and means to fulfill the threat. While expressing its support, the central bank also borrowed Fan, deputy director of the Payment Department. The so-called rectification is defined as "recourse rectification, no fine!"

2. Cooperation

UnionPay has been seeking a breakthrough through cooperation. It is optimistic that NFC technology has deployed more than 3.6 million flash payment POS in advance. However, due to the imperfect security mechanism of Android phones and Apple's inaction, UnionPay can only look forward to the early arrival of the chip credit card era. The launch of Apple pay made UnionPay see an excellent opportunity to get rid of third-party payment. It is natural for Android pay to follow up. No wonder Ma Yun has a big panic. This is probably the first time that UnionPay has had the opportunity to really threaten the third-party payment with Alipay as the core after years of depression.

In fact, several major state-owned banks in China also have mobile payment products, such as mobile banking of CCB and electronic payment of ICBC. However, most of these products are still in the development mode of "the section chief leads the team and the director leads the team", with poor user experience and extremely lack of survival opportunities in the mobile era.

5. An operator who was as quiet as the sea and almost lost his voice.

? At least the three giants of China Mobile, China Unicom and China Telecom are interested in mobile payment, all of which are basically in NFC mode. Mobile has a package, Unicom has a mobile payment, and telecom has a wing payment. However, there are too few supporting resources and application scenarios for these products outside the system, which is more like homework that has to be handed in in the mobile era. The mentality of operators is also very complicated. While enjoying the traffic dividends brought by various innovations, they are worried that OTT's nightmare will happen again.

In the rise of near-field payment, China Mobile once challenged the underlying control right of UnionPay, and proposed a unique 2.4G standard, PK UnionPay NFC scheme based on 13.56MHz frequency band. However, under the premise that UnionPay holds the domestic basic financial facilities, it is impossible for China Mobile to popularize its standards, and its joint venture with UnionPay is increasingly marginalized in the mobile payment market.

When building the payment system, operators instinctively reject third-party payment and rely more on fast payment, online banking payment, balance payment, mobile phone payment, fixed-line payment, POS receipt and other modes, which makes them likely to become allies of UnionPay and mobile phone manufacturers. If the three really form an alliance, it will really change a lot.

6. There are no irrelevant bystanders! -Traditional retail

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

First of all, most companies in the United States have a strong online awareness, and Wal-Mart is not "brain-dead". Among the top 500 brands in the United States, 205 are pure e-commerce, accounting for about 465,438+0% of the total; The remaining 59% are online platforms of traditional enterprises, among which Wal-Mart is the best. In the past three years, it has made 12 acquisitions in the field of e-commerce, set up e-commerce operation centers in Texas, Pennsylvania and Brazil, and employed more than 1000 employees in Silicon Valley. This year, the total online sales will reach/kloc-0.3 billion US dollars, with a growth rate of 30% or even faster than Amazon. According to Wal-Mart's own estimation, within two years, it will be able to rival Amazon in terms of delivery categories and delivery time.

It is this confidence that makes Wal-Mart determined to plan the layout of mobile payment. It took the lead in organizing MCX(Merchant Customer Exchange), insisted on developing CurrentC, a mobile payment tool, and was determined to attack Apple pay. This persistence has almost caused the separation and confrontation of the entire American retail industry. Apple pay camp includes Starbucks, Whole Foods Supermarket, McDonald's, Disney, Macy's, Sephora, and major supermarkets. The MCX camp includes Wal-Mart, Best Buy, Target, Sears, Cole, Lloyd's Retail, Dila Department Store, Southwest Airlines and ExxonMobil. The two sides are evenly matched and distinct.

CurrentC uses scanning code to pay because Wal-Mart has discovered a "neglected truth" with the unique thinking of retailers: all mobile phones have cameras, but not all mobile phones support NFC! At the same time, CurrentC will also collect a lot of data, such as driver's license number, social security number, date of birth and other unnecessary privacy information. It is said that in order to improve the verification system, Wal-Mart also specifically stated that it would not use this information for marketing. Nevertheless, CurrentC was hacked before going online.

Wal-Mart has a bigger plan. It is trying to promote a mobile banking product with mobile payment function called "GoBank", trying to close all transactions in the dedicated payment network of smart phones by providing payment accounts. This thing obviously ignores all banks.

In fact, it is not necessarily a good thing that Wal-Mart is so high-spirited and passionate, especially when it puts all its energy into the wrong direction. Maybe someone should say to Wal-Mart: Wash and sleep, or at least say: You really think too much.

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

1. If one of them really falls down before dawn, please don't complain like "Timon of Athens". The fact is that no business model has ever died in the hands of competing products. Users always vote with their feet, and the real culprit must be them!

2, we mortals, just talking, really don't guarantee that the next generation of Edison or Jobs will hide in a corner of a garage or cafe and secretly churn out innovative achievements that can change the world, the killer who can kill all products, not science fiction!