This article is from WeChat public account:Brain pole body (ID: unity007), author: Tibetan Fox, from the cover: Oriental IC

The digital stability coin Libra “has not been successful”, what will happen to Facebook next? The answer that many people didn’t think of would be software mobile payments.

The market’s response to these two types of financial exploration is also different. The Libra white paper was released in June, and Bitcoin skyrocketed twice. Facebook Pay announced the launch of (November 12), Facebook’s share price has only increased by 2%…

Don’t blame everyone for the cold reaction. On the mobile payment track, Facebook will undoubtedly face competition from strong players. There are Apple Pay, Soft PayPal, Google Wallet, Line Pay, Alipay, WeChat Payment…The existing products of these giants have a remarkable user scale and business model.

Facebook’s proud user advantage and social ecology will be ruthlessly diluted under the high barriers of these mature payment channels. What’s more, it has been the number one “blacklist” of privacy leaks in various countries.

The ability to reach the same height for financial players is a question mark. What is more interesting than this is the intent and future of Facebook Pay.

A special significance of Facebook Pay on Facebook is also the US anti-monopoly hobby of head technology companies.

From 2019 onwards, the anti-monopoly investigation around the head technology giant is a hot topic of the US government. At present, the US FTC has also launched an anti-monopoly investigation on Facebook. Earlier this year, Facebook co-founder Chris Hughes published a long article calling for split Facebook (think it ignores security for expansion) Span>.

In this case, the financial transactions of each of its products are integrated through Facebook Pay, and cross-platform trading will make Facebook’s overall financial relationship more complicated, thus delaying the possibility of splitting.

According to the strong sticking logic of Chinese social products, once Facebook Pay has completely opened up its application trading business, the potential energy will be enough to break through several daily limit. Why is the capital market’s response to Facebook Pay so cold, only humble 2%? ?

Orange to Huaibei: WeChat and Payment that Facebook can’t learn


The seemingly unscientific cold reaction is exactly the true portrayal of “Orange is born in Huaibei.” At present, it seems that WeChat and Facebook are different, resulting in different expectations of the two:

1. Same as social, different scenes.

At present, Facebook is also trying to use social networks to boost payment business, but WeChat payment can be called take-out, online shopping, riding a shared bicycle or even a bank to borrow money and other diversified, versatile payment scenarios compared to Facebook. After integrating apps such as social, communication, and photography, the payment scenario is still quite limited. Although Zuckerberg once said in the transformation strategy, in the future, Facebook will become a super application integrating call, video, office, e-commerce and electronic payment, but the media business is mainly (Advertising revenue accounts for 98% of Facebook’s profit source)Transformation integrated ecology, obviously not a layout that can be completed in a short time, which also brings the development of Facebook Pay Great uncertainty.

2. The same payment, the environment is different.

Although the aforementioned market potential for overseas mobile payments is still very large, this does not mean that Facebook Pay will be the first to be lucky to eat incremental dividends. Google launched Google Wallet as early as 2011, Amazon’s Amazon Pay also came out in 2015, FacebookPay also tried three years with Messenger Payments, not to mention Apple Apple Pay and Apple Card.

So many of these giants have huge global business support and they are constantly moving, but at present, only Apple Pay, which has a high reputation for security and uses NFC technology in the near field, can be said to be an achievement, and almost all others are encountered. Concerns about information security concerns. At the same time, the network infrastructure construction in overseas markets has not been fully rolled out, and the payment scenarios naturally cannot be fully connected. Most of the scenarios still use traditional payment methods, and mobile payment is difficult to show the experience advantages of the crushing level.

A survey by CreditCards.com found that more than 60% of Americans said they would never, or hardly, use their mobile phones for payment. Therefore, in the face of Facebook, which frequently explodes information leakage accidents, even if its own payment tools are seamless and safe, the persuasiveness of its users is obviously inferior to the innate mass base and network environment when WeChat paid into the market. .

3. The same technology, different orientation.

A financial instrument with billions of users, calling it the public infrastructure of the online world is not an exaggeration. Whether it is Libra’s global attention and alertness, or the high number of tickets received by privacy issues, it shows that Facebook needs to constantly challenge the management red line for the beautiful growth curve regardless of value or performance pressure. It is hard to believe that Facebook Pay will stick to the bottom line in the face of high-value trading behavior data.

Compared with Facebook’s constant temptation on the edge of challenging policy regulation, it is clear that the political awareness of Chinese Internet companies is higher. Under the “government management platform, platform management ecology” approach, the platform has a stronger public awareness in terms of system renewal, technical control, social welfare, etc., to some extent circumventedThe security of funds caused by network technology risks. Establishing a firewall between technologies for those who are least familiar with the Internet is an inevitable mission of “public service” technology companies.

From this we can see that there is no necessary connection between the rise of payment instruments and the social ecology. In order to transform the scale advantage of social users into paying fans, it is necessary to construct a fermentation farm that is large enough and complicated to cultivate a Gan Gan. Pang Ran like Facebook or Apple can’t easily copy the victory. Perhaps this is also the fascination of the evolution of technology.

This article is from WeChat public account:Brain pole body (ID: unity007), author: Tibetan Fox