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Alipay disabled by several commercial super mobile payment giant market structure is difficult to change

via:CnBeta     time:2018/4/5 7:01:58     readed:180

Taking into account these factors, this incident was interpreted by some media as a clear line between Wal-Mart and Alipay, taking the initiative to "stand in line."Tencent. There are even opinions that Tencent is the “mastermind” who is leading the matter. It intends to win over retail companies in order to expand the market share of WeChat payment and go beyond Alipay. From the responses of Wal-Mart and Tencent and the analysis of industry experts, this is more like a choice made by retailers for business reasons.

"Stand up" or "business choice"

As a party to this incident, the relationship between Wal-Mart and Ali is undoubtedly the most noticeable. On the one hand, Alibaba was already a shareholder of Wal-Mart's parent company, Gaoxin Retail, in November 2017. This was interpreted as a case in which Ali took advantage of RT-Mart to challenge Wal-Mart. On the other hand, Wal-Mart and Ali's old rival Tencent also have a certain link; It is understood that Wal-Mart and Tencent are the third largest shareholders and the largest shareholder of Jingdong, respectively. Both of them hold 12.1% and 21.25% of JD.

In view of this, some people think that this is the performance of Wal-Mart’s initiative to “stand in line” with Tencent and even believe that Tencent pressures Wal-Mart to stage a mobile payment “choose one”.

“This incident reflects the hurrying of the Ali Line and the Tencent line to the offline retail industry. For each retailer, their behavior is both beneficial and disadvantageous,” said Cao Lei, director of the e-commerce research center. "Wal-Mart should have conducted a full-scale evaluation before making this decision. The end result is surely outweigh the disadvantages. This is also the essence of commercial profitability."

Interestingly, according to Wal-Mart's attitude and Tencent's response, Wal-Mart's ban on Alipay is an independent choice for retail companies. This matter has nothing to do with Tencent. This has also been recognized by some industry experts.

The Blue Whale TMT reporter sent an interview outline to relevant people of Wal-Mart and asked the company about the reasons for this adjustment, the scope and duration of the Alipay's ban, and the opinions of the “Walmart Team Tencent” remarks. However, as of press time, Wal-Mart did not give a positive response and only responded that "Walmart's store support includes multiple methods of payment including cash, bank cards, shopping cards, multi-purpose prepaid cards, and mobile payment. We will market based on Changes and continuously improve our services to meet the needs of our customers.”

At the same time, the Blue Whale TMT reporter also contacted relevant persons of Tencent. The other party responded that “We respect Wal-Mart’s business choices.” Zhang Jun, Tencent’s director of public relations, also responded to the matter on Weibo, saying that any third-party mobile payment is still In the process of communicating with merchants and promoting access, the right to access is basically in the hands of the business. Third-party payment is only an option for businesses, and there is no ability to do any intervention on businesses.

In response to this issue, Yi Yi consulting CEO Zhang Yi said that Wal-Mart made this adjustment is not surprising, in fact, online and offline shopping malls free choice of payment tools is not only today, but the origin Long. For a long time, Tmall.com did not support WeChat payment. Jingdong Mall did not support Alipay. The two platforms still developed well.

Independent Internet analyst Fu Liang also pointed out to reporters that considering the current situation, the outside world thinks that Wal-Mart has a suspected misunderstanding. First of all, Wal-Mart and Tencent are only JD shareholders. There is no connection between them. It is obviously illogical to conclude that the Wal-Mart team is. "Ali and Tencent are also shareholders of Didi. They are independent of each other. Can you say that they are allies?"

Second, he believes that this statement of ascending to political behavior is inaccurate. Any merchant has the freedom to choose to pay for the tool. The factors that merchants need to consider when choosing a payment tool include convenience, security, technical support, feedback to paying users, charging standards, etc. Disabling Alipay should be more than just Wal-Mart’s business choice based on market judgment.

Backgammon followed closely, retail companies accelerated camping

It is worth noting that after Wal-Mart discontinued Alipay for a few days, there was an analysis in the industry that there may be other offline retailers joining this camp.

In Cao Lei’s view, Alipay is bound to be affected after the incident and it will lose users and water from Wal-Mart. But the greater impact is that in the future there may be more businesses following Wal-Mart's steps, trying to revise the terms of cooperation with Alipay, reducing deduction points and so on.

No one expected that this speculation seems to be “fair to reality” soon. Recently, some BBK stores have also been exposed to Wal-Mart and disabled Alipay.

According to media reports, BBK responded to this by saying that BBK has only had a small number of stores to support the use of Alipay. The reason for the lack of large-scale cooperation is that Alipay’s cooperation is relatively strong. It only serves as a primary entrance and does not accept two-way access. This is exactly the same as the expression of BBK chairman Wang Cui's previous statement. He once told the media: “The core problem is that Ali is an empire. They are not open. They want your data assets, that is, they go in one go.”

In other words, because BBK is dissatisfied with Alipay's cooperation, it has less access to this payment tool, and therefore there is no "disabled Alipay." Even the BBK stores that once connected to Alipay suddenly announced the suspension of Alipay, which is also an autonomous commercial choice for BBK.

However, unlike Wal-Mart and Tencent, which is directly linked, BBK belongs to the “Tencent Department” Super Business, which undoubtedly triggered the industry’s suspicion of the backgammon team Tencent. It is reported that this is a step higher than Tencent and Jingdong’s “marriage” in February this year and joined the Tencent camp. Backgammon has also signed strategic cooperation framework agreements with Tencent and Jingdong on smart retail, and transferred 6% shares to Tencent and 5% to Jingdong. Shares.

(Alibaba, Tencent's layout in the retail sector Figure According to China Merchants Securities)

Based on the above analysis, regardless of what purpose Wal-Mart and Backgammon's two retail companies stopped using Alipay, from the current situation, Wal-Mart and Backgammon have at least stepped into the Tencent camp, and retailers are accelerating their camping. Indisputable fact.

Mobile payment is two strong contenders, giant status is difficult to change

Needless to say, one of the key roles behind the disabling of Alipay as a stand-off or commercial choice is the mobile payment tool. Accompanied by the "fierce fighting" between Alipay and WeChat, the future changes in the competitive landscape of third-party mobile payment are still worth considering.

It is well-known that Ali took advantage of Alipay in the field of third-party mobile payment. As a rising star, Tencent’s WeChat payment relied on WeChat’s social capabilities to develop rapidly and quickly gained strength to compete with Alipay. During this period, the two sides fought hard to continue to launch a variety of subsidy wars and "no cash" projects in order to expand the application of payment scenarios.

For example, at the end of July 2017, WeChat Payment announced that it had held the “88 No Cash Day” for the third consecutive year. Since August 1st, WeChat will invest huge sums of money to encourage payment through channels such as gold, vouchers and cash bonuses. The activity lasted throughout August. On the same day, Alipay also announced that it will start a cashless week from August. The nation’s Alipay users will have the opportunity to receive a bonus of up to 4,888 yuan as long as they spend more than 2 yuan on businesses that support Alipay collection.

The “Analysis Report on China's Third-Party Payment Industry Market Forward-looking and Investment Strategic Planning for 2018-2023” released by the Industry Research Institute of Forward-looking Industry shows that Alipay has used its online and offline advantages to establish shopping, tourism, education, financial exchanges, and public welfare. The financial and communication system including finance and life services, etc. The Tenpay General Service focuses more on the drainage of social attributes of WeChat. At present, it has established a social financing system including recharge, public welfare, and finance.

According to the latest report released by Bida Consultancy, a third-party data research institution, third-party payment continues to explore the offline market, and the penetration rate has increased year by year. Since 2016, the scale of third-party mobile payment transactions in China has continued to climb; the transaction volume for 2017 was 105.4 trillion yuan, an increase of 171.65% year-on-year to 38.8 trillion yuan in 2016.

In this subdivided industry, Ali's Alipay and Tenpay's TenPay (providing technical support for WeChat payment) still occupy an absolute dominant position, accounting for 51.96% and 37.15% of the market share respectively. Overall, China's third-party mobile payment market has formed a duopoly competition between Alipay and Tenpay, and the status of giants is difficult to shake.

Regarding the competitive landscape in the field of third-party mobile payment, Internet independent analyst Fu Liang pointed out to reporters that from a historical perspective, Alipay has made great contributions to mobile payments and its market share is currently high. The WeChat payment entered the market later, and it developed rapidly with the social functions of WeChat. It is second only to Alipay in terms of market share. However, at present, WeChat payment still needs to break this situation in many aspects, and it does not rule out that in the future, more interests will be sought in order to find more partners.

Cao Lei believes that in the future, the competitive landscape of third-party mobile payments is Alipay and WeChat payment. They have their own strengths, and their share is getting closer. At the same time, besides the two strong forces, there are still many small platforms that are in full bloom, including both the national team's payment platform and the private team's platform.

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