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Sun Tongyu, who was working with Ma Yun at the time, borrowed the biggest advantages of Chinese Internet companies: what is in foreign countries, what we copy, what others do, and what we also do.
To solve the original problem of Taobao, Sun Tongyu once thought of two ways.
The first plan is to learn QQ, design something similar to Q coins, and let buyers and sellers use it for transactions.
But if you look at the product carefully, you can understand how bold this courage is: independent of the bank, design a virtual currency that has exchange value, can be traded, and can be exchanged for RMB. Even if this virtual currency is attached to the physical currency of the entity, this courage is too great. How can the official bank tolerate you? Maybe they take Black seriously and really want to open a bank.
Of course, the people are also clever, and realize that if a small Internet company promotes such a thing, if their money cannot be exchanged, it will be blind.
So Sun Tongyu changed his method: try PayPal’s method, but he found that Paypal’s method of using e-mail to transfer funds has little soil in China: at first, the e-mail hacking was crazy, and second, it was tied The process of setting a credit card to the mailbox is very complicated, not to mention that until now, few Chinese have a credit card.
Finally, the crazy Sun Tongyu worked out a secured transaction-based payment tool. Buyers put money into a third-party payment platform. After confirming the receipt, the money will be transferred from the third-party payment platform. Go to the seller. This is the prototype of Alipay.
Cui Weiping and Jiao Zhenzhong’s cross-border payment only came later. Speaking of which, more than ten years have passed. Sun Tongyu has already left Ali, and even invested in Ali’s competitors.
Ali wants to engage in a third-party payment platform, but still has to find a bank to cooperate. At the beginning, everything was so affectionate.
Merchants will feel: Why is it so difficult to open a card? Why is payment so difficult?
At this time, the bank remembered Alipay and WeChat Pay.
Alibaba and WeChat Pay announced a major business at the expo some time ago: Foreign residents who do not have Chinese ID cards can access WeChat and Alipay from here as long as they have Visa and Mastercard, and scan codes in China. Already.
As soon as the news came out, CNN and Reuters both rushed to report on the matter, and the focus was on China, which has been repeatedly criticized for being suspected of protectionism. This time it took the initiative to connect the world, Visa, Masteredcard, AmericanExpress, Discover Global Network and JCB’s five major international card issuers can access WeChat and Alipay without charging any fees.
Surprised and surprised, but there are reasons for it. There are restrictions on opening up. For domestic banks, Taobao, Tmall, JD.com, high-speed rail, commercial … It’s all a profitable business. Anyway, all open is payment Business, foreign monks still ca n’t read a full set of sutras, your retribution is me.
Foreign users who want to use Alipay need to pre-charge Shanghai Bank’s prepaid card from their overseas debit or credit card. This money is deposited in Shanghai Bank, and Alipay has money .
For WeChat payment, you only need to provide a foreign bank card, name, certificate number and mobile phone number used to open the card to activate the binding. After opening, foreign users can buy tickets, air tickets, use Tmall, JD.com just like users in Mainland China … this will undoubtedly bring huge overseas consumption.
If you really follow Alipay, there are currently 300 million overseas users. After connecting them to the Chinese market, this means a total of 300 million more consumer groups.
As long as profits are in place,