The payment field has been full of information recently. on August 24, Beijing Business News reporter noticed that WeChat Pay completed the interconnection with chinese payment system Cloud Flash Pay, according to the Cloud Flash Pay App can pay to WeChat account. Different from the cloud flash payment into Taobao payment method, cloud flash payment and WeChat payment strategic cooperation is produced barcode payment interconnection, according to get rid of the technical natural barrier, more conducive to the opening of the payment sales market and fair and just. And when the barcode payment interconnection is gradually promoted, the payment field will produce how the big change?

Cloud flash payment and WeChat payment complete interconnection

On August 24, Beijing Business News reporter applied a number of customer account detection found that, according to the cloud flash payment App "sweep", scanner personal WeChat "receipt QR code", you can make payments. The order details page shown in the Cloud Flash App indicates that the three-party payment platform is "qq Wallet Payment High-tech Comparative Co Ltd" (hereinafter referred to as "qq Wallet"), and the sale is categorized as "department store household Daily necessities - daily necessities". In the WeChat money page, the words "from China UnionPay cloud flash payment customers" will also occur.

In fact, the collaboration between cloud flash payment and WeChat payment is already ancient, as early as January 2020, there is a news report that China UnionPay and qq wallet reached barcode payment interoperability collaboration, will together scientific research barcode payment interoperability technical specifications, create a full range of mutual sweep bilateral agreement of barcode payment service system. Then, Bank of China, Bank of Communications and several other financial institutions announced the application of cell phone net banking App, can also complete the immediate transfer of funds to WeChat customers.

Along with the news that WeChat payment and cloud flash payment completed barcode payment interconnection came, when WeChat payment completed with Alipay's "dream 2 linkage" is also felt to have a lot of feasibility analysis.

The Beijing Business News reporter specifically felt that at this stage the cloud flash payment and WeChat payment two service platforms in the middle, only completed the cloud flash payment scanner WeChat two-dimensional code of the one-way actual operation, WeChat scan cloud flash payment receipt code can not be paid. In the account tested by the Beijing Business News reporter, it is also not possible to apply the cloud flash payment scanner Alipay's own payment code to carry out payments. According to the feedback from netizens on the published service platform, some customers can already make payments to Alipay's own code according to Cloud Flash Pay.

For the current stage of WeChat payment and cloud flash payment, Alipay and cloud flash payment barcode payment interconnection progress, and its later in the completion of the level of interconnection with other service platforms what overall planning and other issues, Beijing Business News reporters also each to the three parties to carry out the master, but as of the publication of the article, did not receive another party response.

However, Alipay online customer service reply Beijing Business News reporter stressed that customers can apply cloud flash payment App scanner Alipay cash code payment, the actual need to look at the region and its application of the savings card, at this stage there are also many regions are not covered. For the application of cloud flash payment to Alipay payment of geographical customers, the actual can apply this role also need to be detected after the web page to remind as the standard.

In zero one research institute doctor Yu Baicheng view, in the platform economy to get rid of monopoly, payment sales market open to the outside world fair and just, and its convenient for customers under the general theme, WeChat payment, Alipay and its cloud flash payment three parties recent trends, indicating that the payment field in barcode payment interoperability, service platform open to the outside world payment methods and other areas occurred significant progress, beneficial to the payment sales market more open to the outside world, the fair and equitable.

Customers are more concerned about special offers and convenience

Regarding barcode payment interconnection, the industry is widely considered to be the result of the promotion of multiple aspects such as control and payment organizations.In September 2019, the central bank announced the Financial Technology (FinTech) Development Plan (2019-2021), which clearly states that it will promote barcode payment interconnection, study and develop barcode payment interconnection standards and norms, unify barcode payment coding rules, build barcode payment interoperability technical management system, connect the barcode payment service project fortress, complete the bilateral agreement of different APP and merchant barcode logo mutual sweep.

Beijing Business News reporter noticed in several announcement service platforms such as microblogging that the recent information about the interconnection between different payment organizations has also caused users to participate in the discussion. In addition to agreeing that getting rid of the monopoly of payment organizations will be the new trend, more customers put the focus of understanding on the strength of the discount and its convenience level of applying Cloud Flash Pay.

According to user satisfaction, the application of the Cloud Flash App has a variety of special offers such as transfer fee-free, payment with a single reduction and its points, and will continue to work with a part of the offline promotion of payment collection scenarios to distribute a variety of coupons. For cloud flash payment and WeChat payment to complete the connection, many customers said they prefer to generate higher benefits.

In addition, there are also customers who have the requirement of applying different payment organizations to carry out payment collection and payment confess that after completing the interconnection of barcode payment, an app can be used to complete payment and payment collection for barcodes given by different service platforms, which can prevent the problem of repeatedly downloading payment apps for free.

Sun Yang, head of the Financial Technology Research Center of Suning Financial Research Institute, informed Beijing Business News that monopolistic will make the sales market power weak and will make customers lack of selection, which will further damage the interests of customers in the long run. For local users, the promotion of barcode connectivity can also make the payment sales market more dynamic and reduce service fees for customers to apply third-party payments for loan repayment, online top-ups, transfers, etc.

A big change in the payment field

In addition to providing convenience for users, Alipay, WeChat Pay and its cloud flash payment as the head of the top payment service platform, the three-way linkage also allows small and medium-sized organizations in the payment field to see the summer light. A number of analysts feel that WeChat Pay, Alipay, and Cloud Flash Pay have recently posed to get rid of a big step in the interconnection of the payment field.

On August 18, at the Tencent official 2021 mid-year sales performance communication conference, the company's chief president Liu Chi-ping mentioned when talking about barcode payment interconnection that the overall goal of Tencent's official green ecology is to allow small, medium and large companies to join in it, so that everyone, small and medium-sized enterprises and stores can have a fair and equitable contact with customers immediately and improve efficiency. "The service platform and platform interconnection encountered some real problems, including the current policies of different industries how to balance these."

Sun Yang stressed that the completion of the interconnection between Cloudflare and WeChat Pay, in fact, also allows the sales market of WeChat Pay acquiring business towards Cloudflare and financial institutions to be more open to the outside world, so that more and more small and medium-sized payment organizations can join the huge acquiring business and payment sales market services. "But this must also interconnection of the scope of continuous expansion, the strongest team can only make the division aggravated, high and low synergy is considered to improve the charm of the sales market is fundamental to facilitate independent innovation and fair trade of small and medium-sized organizations, with high-tech work ability, intimate service and experience of small and medium-sized organizations can excel, the field layout will further produce changes. "

Yu Bai Cheng as mentioned, the opening of the sales market and fair and equitable, more conducive to adequate market competition between organizations, objectivity gives small and medium-sized organizations opportunities. However, for the organizations that give convergence of payment business processes, it is likely to produce adverse harm. "After the completion of interconnection in the field of payment, merchant requirements become weaker, the original advantages of convergence payment will no longer have the ability to compete, the same encounter sold riskiness."

Yu Baicheng focus, at this stage the layout of the payment sales market has long been relatively stable, payment is the key channel of the total flow of big brother, for big brother's business process brings data information support point, thus big brother will pay more vitality to ensure the merits of payment, and to the outside way to compete for customers. It can be expected that the payment market competition methods will be more diverse, and some unique payment organizations still have a chance to grab a seat.

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