It is expected to be launched in the fourth quarter of this year.
Editor’s note: This article comes from the WeChat public account “New Flow Finance” (ID: xinliucaijing), author Xiao Huizhen.
This time Tencent really shot, decided to face the PK Ant Financial, rewriting the consumer financial market.
A few days ago, Xinliu Finance was informed that Tencent is incubating a credit payment product “payment” (tentative product name). Following the ant flower buds and Jingdong white strips, “payment” represents the Tencent department reignited the war of credit payment.
In the future, when users use WeChat payment, they may use the “payment” payment first, and then extend the time payment or make the payment in installments during the account period.
It is reported that “payment” is expected to be launched in the fourth quarter of this year, operated by the WeChat payment team, and is currently in the stage of negotiating cooperation with some banks and licensed consumer finance companies. In the future, “dividing” or “micro-credit” will operate through open whitelists and financial institutions such as banks in the form of loan-in-promotion and joint lending.
The soon-to-be-off of “payment” means that from 2020, the long-term pattern of China’s credit payment is likely to be completely rewritten.
Tencent launched a credit payment product, which is undoubtedly a declaration of war to Ant Financial and Jingdong Finance. It is also an influential action for the entire consumer financial market.
Overview of the current consumer finance industry, in February 2014, Jingdong launched “White Strip”, and in April 2015, “Ant Flower Garden” was officially launched. Based on the huge ecosystem of Jingdong and Ali, they first tasted credit payment. Bring the bonus.
After 4-5 years of development, flower buds and white strips have already extended from the Ali and JD systems to other scenes. According to public information, as of the end of 2018, the balance of white goods revenue was 34.449 billion yuan; while the loan balance of Huayu had reached 99.2 billion yuan in the first half of 2017.
There is no doubt that credit payment products can effectively increase the user’s desire to pay, and at the same time increase the sales volume of the merchants.
Take Jingdong as an example. Xu Ling, who is at the helm of the white strip, has observed the performance of users who have used Jingdong service for 5 months before and after consumption.After the white bars and before use, the monthly average consumption orders increased by 52%, and the monthly average spending increased by 97%.
For the credit payment platform, the credit payment service can charge the billing fee and overdue fee of the C-end user on the one hand, and the service fee for the B-side merchant on the other hand, so as to increase the revenue of the platform.
Although the credit payment market has long been divided by flowers and whites, there are still players trying to get a share.
A few days ago, the US group also launched a similar “flowering” for the products of the flower garden; Baidu’s Baixin Bank also began testing the virtual credit card and launched the “pay partner”. At this point, the credit payment campaign between the giants officially started. .
Old players are chasing hard, and the power of newcomers cannot be ignored. Each player has a scale of hundreds of millions of users, as well as a unique ecosystem system, the strength can not be underestimated.
After the analysis of licensed goldsmiths, it may be too late for Tencent to enter the market again. “When the user’s instalment payment channel habits have been developed and want to change the market structure, perhaps only by burning more money to fight the users in a phased and interest-free war, Tencent needs to pay more.” >
There is also analysis that, in terms of strength, WeChat’s credit payment products will be the most powerful competitor of Ants.
The two rely on WeChat payment and Alipay respectively, and in the current mobile payment market, the two have occupied half of each.
In January of this year, Alipay announced that the number of users worldwide has exceeded 1 billion, including 300 million overseas users and 700 million domestic users. As of November last year, Alipay has more than 650 million active users per month. The number of users of WeChat payment binding bank cards at the end of 2018 has exceeded 800 million.
Ai Rui report shows that in the first quarter of 2019, the scale of China’s third-party mobile payment transactions reached 55.4 trillion yuan, an increase of 24.7%, of which Alipay accounted for 53.8% of the share, Tencent Tenpay (including WeChat payment) The second place accounted for 39.9%.
If the user is in the consumer payment link and wants to spend the payment first or directly instalment, the highest priority will be the WeChat payment and Alipay products.
More than 800 million potential users, when WeChat pays to launch “payment”, it will definitely be the time when the consumer financial market structure has been rewritten.
In fact, from the perspective of Tencent itself, it seems that this credit payment product is urgently needed to stimulate its financial technology business growth.
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