Fourth party payment aggregation payment turned out

Recently, many stores or supermarkets are no longer the only payment mode of Alipay or WeChat wallet. An emerging payment method is emerging – aggregate payment, providing a variety of derivative services based on payment, it does not It has a payment license, but a comprehensive payment service that aggregates payment tools such as various third-party payment platforms, cooperative banks, and other service provider interfaces.

Aggregate payment development is unstoppable

Aggregate payment, also known as “fusion payment”, refers to payment services other than “payment, settlement, and clearing” services. It relies on banks, non-bank institutions or clearing organizations, and relies on payment channels of banks, non-bank institutions or clearing organizations. Clearing the settlement ability, using its own technology and service integration capabilities, to integrate more than one bank, non-bank institution or clearing organization's payment services, providing merchants with but not limited to "payment channel", "collection reconciliation" Service content such as "technical docking", "error handling", "financial service guidance", "member account", "operation process software", "operation and maintenance", "terminal provision and maintenance", etc., thereby reducing merchant access, Maintenance of the cost of payment settlement services, improve the efficiency of the merchant payment settlement system, and receive payment services for value-added income.

Currently, aggregated payments are classified by business and can be classified into online and offline. Online is the aggregation network payment, integrating various payment methods (WeChat, Alipay, etc.) into its own platform, mainly for e-commerce services; offline is the aggregation payment receipt, and the collection of different payment methods is collected in a two-dimensional Among the codes or one terminal, it is mainly a physical store service.

Compared with third-party payment companies, the advantages of Aggregation Payment Agencies are that they can more easily reach users in the “front end” without touching the user funds, and the cost of compliance is also lower. Compared with smart POS enterprises, the aggregation payment organization has less hardware. The cost of development. Therefore, the cost of trial and error for the aggregation payment enterprise is lower, the market changes are more flexible, and the solution is more suitable for market demand.

From the perspective of the development direction of the aggregation payment company, there are currently two evolutionary paths: one is to deepen the payment industry, to collect the commission for the transaction service from the merchants, and to further develop the value-added value of the consumption phase derived from the system. Service; the other is to expand the breadth of services, the goal is to become a platform-connected enterprise, open up the industry supply chain, give flexible solutions to the financial needs of traditional enterprises, and be a connector between financial companies and traditional enterprises.

Therefore, the future payment market will become more differentiated and exhibit the characteristics of absolute fragmentation. Therefore, it is impossible to “one big one”, but a diversified group of hegemony, which reserves a living space for aggregate payment.

Aggregate payment "two clear" risk caused concern

At present, ants Jinfu, Tencent Tenpay and other industry giants are building an open platform strategy. Although the aggregation payment platform does not currently compete with these open platforms, if the aggregation payment enterprise as a traffic portal makes the giant feel the threat, it is not impossible to block the event in the payment field based on the channel and the entrance dispute. After the completion of the pre-marketing, the quality payment channel has tightened into a high probability event.

In addition, the profitability of the aggregation payment platform needs to continue to explore. As the number of market competitors increases, the mode of relying on the rebate commission will inevitably be unsustainable. It will be a feasible future development direction to better utilize the users to expand value-added services and flexibly grasp the aggregation capability. .

The most important concern is the "two clear" risk issue. Although the aggregation payment does not involve fund clearing and is not subject to the supervision of payment licenses, it is still inevitable that a very small number of enterprises will play the "two clear" edge ball. In the future, if the regulatory authorities strengthen supervision over the “second Qing”, the survival of aggregate payments will be difficult to predict.

The so-called "two clears" refers to a mode in which units or individuals that have not obtained the central bank's payment for business licenses actually engage in payment services and fund liquidation with the support of licensed acquirers.

In recent years, due to the lack of barriers to entry for merchants, the annual transaction volume of “Second Qing Institutions” has reached a trillion yuan, and behind this, “the security of merchant accounts is difficult to be protected”, and the chaos of running roads has also caused regulatory layers. Highly valued.

Recently, the news that the central bank’s head office has uniformly arranged to issue the “Notice on the Implementation of the Regulations on Aggregation and Remediation of Aggregation Payments” has been published. This is also the official launch of the regulatory gunshots for aggregate payments, which will surely become more and more in the future. The regulatory documents are issued to regulate the aggregate payment market.