Taobao Opens Its Payment Channel To The Unionpay For The First Time "Hostile Cooperation"

Payment continued card has not yet landed boots, the industry will again lift flat thunder.

Recently, Xiaobian has been confirmed from nearly two sides. Ali and UnionPay online are negotiating the issue of Taobao's open payment channels, but the details remain to be determined.

It's going to be an interesting meeting.

But looking back on the past, it seems that everything is earlier.

In 2014, the president of China UnionPay, who had spoken in WeChat group, hoped to have a big drink with two horses. "The way out is to have cooperation in competition and achieve new cooperation with new competition."

That time, two-dimensional code payment has just been stopped by the central bank, the market view will be widely.

And the UnionPay as a victim and vested interests will become fire and water.

Now Ali and UnionPay have finally sat at the ends of a negotiating table, so it seems that the long cherished wish to drink a big wine then has been realized.

Long period of division

It's been 13 years since Ma visited China UnionPay for the first time in 2003.

In 2003, Ma Yun sought to open up a payment channel for Taobao, built Alipay and became an important part of Ali's ecological construction.

Here, in 2013, Alipay shut down the line business for "well-known reasons". In 2014, the two-dimensional code scanning payment was stopped by the central bank. It seems that people always associate with the UnionPay.

Now, after 13 years, Taobao is once again standing in front of the UnionPay to discuss a payment channel that they do not seem to need so much.

Looking back on the past, let this narrow encounter add some drama meaning.

A senior executive close to the UnionPay jokes that the two are "separated from each other".

The introduction of competition is always full of attention and inevitable. Some market voices are not optimistic about this marriage.

"Market cultivation has been completed, even if access to the online payment channels of UnionPay online, what can be done?" a vice president of a third party payment institution believes that even if UnionPay online can be embedded in Taobao payment link, its sense of existence will also be very tasteless. "Most users have been accustomed to and accepted Alipay's payment methods, and have completed the binding of corresponding accounts. It is not easy for the UnionPay to get a slice of it again."

However, in fact, all purchases in the Ali system have been relied on in Alipay's account system, even if it is fast payment.

The official website of Alibaba showed that in March 31st last year, the paction scale was over 3 billion over the same period last year.

In this regard, both regulators and banks have a lot of complaints.

A general manager of the electronic banking department of a joint stock commercial bank said that the bank card would encourage the cardholders to go through the channel of the union.

"After all, the UnionPay adopts the Quartet mode. A paction is completed. Besides the UnionPay, the central bank, the cardholders, the issuing bank and the receiving institutions can see the details of the paction, and the information will be more pparent from the perspective of cardholder service.

But Alipay's model is very much like a pool of funds, its internal capital flow is only known to him, customers know it at the moment of consumption, but afterwards, the paction records on the bill will only show Alipay (China) Network Technology Co., Ltd.

Of course, WeChat payment also has the same problem, as long as it is paid through WeChat details, whether online shopping or offline scanning code, bank bills are displayed the same: Cai Fu Tong Payment Technology Co., Ltd.

Banks often have telephone calls from customers, and we have to deal with details of customer service to banks. We are also very troubled because Alipay has not submitted details.

Another senior manager of a joint-stock commercial bank believes that once the agreement is reached, the strategic significance of the two sides is much higher than that of the payment channel itself.

"At the moment, all financial institutions attach great importance to the accumulation of big data. Alipay's interception of data is also an interest in the interests of other industry participants.

Moreover, there is considerable impediment to the anti money laundering work of banks in line with supervision.

Comparatively speaking, once the UnionPay is settled in Taobao, the payment completed through the UnionPay online will be clearly and completely presented in the sunshine, and it will be loved by the central bank and banks.

Moreover, it has contributed to the competition and game between the two in the same ecosystem. In the case of banks, it may bring more room for negotiation, and it is also a good thing.

It 's a long story

In the eyes of some payment circles,

The opening of payment channels is an inevitable outcome. It is only a matter of timing.

"In fact, the issue of Taobao and Tmall's open payment channels is not only regulated, the banks have voices, but also inside Ali has such discussions. Quite a few people think that this is actually a good thing, and the test of competition can make our system stronger and more energetic."

A source close to Ali told the Economic Observer website. "But frankly speaking, there are many voices outside that misread the matter.

It is generally believed that Alipay's monopolist Taobao Tmall's trillion market is a game of supervision, but it is actually a business issue.

The personage thinks, "Taobao, Tmall are very high threshold merchants, Taobao is very difficult to serve, it will involve a big system pformation, need a period of development and testing, not simply a sentence can be achieved overnight.

We need to open up the Taobao account and control the flow of funds of the first level users, but also to achieve full reduction (full discount), refund, synchronous deduction, when you buy several items at the same time, which is quite different orders, and the background of information content should be re checked. These small details together constitute the smooth experience of buying and selling. Users may not feel it when they are experiencing it, but this will involve many complicated technical problems, which require payment agencies to provide diversified products to solve.

For example, double eleven double two, general banking system to pick up is not necessarily able to carry, the probability of a problem is very high.

But the whole staff of Alipay will work overtime to strengthen the system to ensure smooth operation of the system on that day.

The personage thinks, "although Alipay and Taobao and Tmall are already two groups and two commercial entities, Alipay is the only payment system tailored for Taobao. Its flexibility and architecture are designed entirely according to the Taobao process system, and the rate is very cheap.

So for other payment institutions or banks, it is a very demanding businessman who is willing to pay a very low rate at the same time. Whether they are willing to accept it is a question that needs time to negotiate and run in.

It is interesting that both the UnionPay and Alipay have been trapped in the "whirlpool" of monopoly.

On the one hand, although the liquidation market has been in the process of promotion, so far, the UnionPay is still the only liquidation institution in the territory. On the other hand, at the beginning of this year, BigData-Research published the Research Report on China's third party mobile payment market in 2015. It shows that Alipay has a 72.9% share in the mobile payment domain, and has an absolutely leading market share, while an interview with an economic observer network close to the central bank said, "in a certain field, the market share exceeds 50%, and there is suspicion of monopoly."

What is more interesting is that the delicate competition between Alipay and UnionPay comes from the coincidence of clearing functions.

"The payment agencies all over the world will not be directly connected to banks. Only the clearing houses can connect the accounts, but in the past few years, Alipay has acted as an agent.

The innovation benchmark of the industry is developing rapidly, and the mainstream banks are basically directly connected with them. In fact, they have already undertaken part of the liquidation function. Under the existing supervision system, the possibility of being included in the regulatory process by applying for a liquidation license in the future will be very great.

Those close to the central bank said.

In any case, in a new ecosystem, Taobao and Alipay will be able to land together and work together to seek market development.