Put a picture in the first place, and it's scary to read the headlines. According to the mobile payment network, this is one of the contents introduced at a training meeting of unionpay. Specifically, it tells the specific process of connecting WeChat and alipay's receipt business to unionpay. The logic behind this is whether the lake is a joke, or is it a charm, or is it a love or a responsibility?
From the data, WeChat and alipay are connected to unionpay, and the consumption links between the receiving institutions and WeChat and alipay are cut off, and the merchants and transactions between them will be processed by unionpay. In the background, the bank of the people's bank of the people's bank to carry out the liquidation of funds, highlighting the legitimacy of this model in policy.
In addition, unionpay has made detailed instructions on online transactions, such as merchant entry, sweep transaction, and main sweep transaction, which is not carried out here.
It has to start with liquidation.
To the clearing, "said the quartet model" organization (card, card issuers, single institution and merchants) is one of the most critical characteristic, is also China unionpay, Visa and liquidation group has been sticking to the core idea. The platform, set up by the clearing house, connects the issuing bank and the cardholder, while receiving a single institution and a variety of merchants. The platform provider will provide technical standards and transfer clearing services, connect the market parties and complete the payment service. But it is well known that the "straight-line model", led by alipay and tenpay and bypassing unionpay, poses an increasing challenge to the "square model". In "direct model", pay agency connecting role of liquidation, the facts and the qr code to pay for the offline market, the challenge has been to upgrade become a comprehensive and in-depth pay for the war. It is another story that the seemingly solid "foursquare" model is easily broken, and what is the story of the domestic clearing giant unionpay and the fast payment inventor, alipay.
In fact, the rise of the direct link has spawned a more diverse pattern of liquidation, in addition to making tenpay and alipay a more objective liquidating role. One feature of the "straight-line model" is that the big payers have more bargaining power, while smaller payment institutions have more bargaining power. However, there are many payment institutions in the market, and the integration is still beneficial. Some Banks have set up clearing houses to do these things, such as the people's livelihood xiamen clearing center. From xiamen supervision bureau website information published on April 29, 2016, the central function is through the establishment of perfect "Internet +" platform, to provide local and foreign financial enterprises, and comprehensive services, online payment and settlement. In November last year, there was news that the clearing center has close all pay the channel business of the company, the headquarters of taking all channel to accept changes, but there are people's livelihood bank relevant personage to deny this information. In a word, China's liquidation pattern is as chaotic as the entertainment industry.
At the end of the day, and payment institutions, Banks and Banks, are connected to each other between the institutions and payment, belong to in across the range of institutional investor and settlement, must be to a liquidation organization to deal with. And liquidation qualifications, not all institutions have it. "Direct" brought trouble to regulate, so for security reasons, the people's bank of the decision made to cut off the pattern of direct bank payment institutions, let the third party pay back in the arms of "square model".
The Internet federation has not moved unionpay.
At the end of last year, the people's bank issued no. 296, specify the bank, pay the agency to carry out the barcode payment business involving interchange, shall be enforced by the people's bank interbank clearing system, or the legal qualification of clearing houses, snatched, unionpay is the legal qualification of the clearing house.
As of March 2, the online clearing platform had access to nearly 340 Banks and nearly 100 payment institutions, and was completing the task of "breaking straight" on June 30. On January 29, China unionpay officially announced that the new generation of unionpay and non-card business transfer and clearing platform formally launched large-scale and large-scale business carrying services to various member institutions.
Unionpay, according to unionpay official after a new generation of business transfer clearing platforms have no card with 17 national focus on more than 180 commercial Banks, regional Banks, the main commercial Banks do networking, and pay more than ten major institutions included hundreds of member institutions cooperation agreement, in which more than 70 institutions have completed docking platform or docking is underway. Although unionpay does not disclose the names of major Banks and payment institutions, it is tempting to speculate whether the payment mechanism includes tenpay and alipay. As unionpay officially introduces WeChat and alipay to unionpay, the answer is probably yes.
In order to meet the time requirement of 296, unionpay will use WeChat, alipay's existing interface and reconciliation document format according to the principle of making WeChat, alipay and receiving institutions less change.
Talk about influence
For WeChat and alipay, the "direct connection mode" begins with the people's bank, and then goes into the euthanasia stage. Then there are the days, waiting for the call of the liquidator.
In the case of unionpay, after the completion of the renovation project, the receiving institution can legally transfer the barcode payment transaction of WeChat and alipay through unionpay. Unionpay can return to its most familiar role while actively promoting the construction of its own payment tools, continuing to challenge WeChat and alipay. And the early introduction of the relevant scheme, more conducive to unionpay in the face of possible future competition.
For the network, even though it was the same as unionpay, it had a "top-down" color, but the essence of both was still the company. Nowadays, competition in all walks of life is everywhere, not to mention the unionpay and Internet connection in the settlement area. No matter how the two sides emphasize "all for the healthy development of the industry", some level of competition is inevitable. Previously made platform exchange conference of all business functions, snatched the President Dong Junfeng made in all the functional coverage are introduced, in addition to have support agreement pays, gateways and so on five big basic functions, and realized the barcode related business functions such as pay, just no specific access scheme. But for now, unionpay and the network have maintained a certain tacit understanding and restraint. Unionpay's plan remains the most familiar "offline" category, with online businesses still within the network's plans. Whether this tacit understanding will be maintained, and whether there will be new clearing institutions in the future is unknown.
To the bank... It seems that there is no bank in this model. From the unionpay scheme, it can be seen that the "new quartet" is unionpay, merchant, receipt and WeChat/alipay. WeChat and alipay have become the biggest "issuers", and the Banks either retreat behind them or take the form. Compared with the "tripartite model", the participation and advantages of the bank are further weakened.
As for the aggregators, there is no place in the "new square model" in addition to fighting.