Alipay Ends The Bank In The Free Cash Era.

The difference between WeChat and Alipay is that the amount of WeChat's free cash is 1000 yuan, and Alipay is 20 thousand yuan, both of which are cumulative sums of life, not one year or one month.

Since the rise of Internet finance, Alipay has been playing the banner of free, and because of this, its payment has quickly occupied the market.

Internet financial institutions and banks are short boards compared to many, because the third party payment is small retail after all, and large payment, including enterprise payment, is mainly done through banks.

Although Internet banking continues to impact all aspects of traditional banks, traditional commercial banks have huge user groups, strong capital and strong business replication capabilities. Under the current tightening of Internet financial regulation, the strength of traditional banks can not be underestimated.

After WeChat's cash withdrawals, Alipay also began charging 0.1% of the service charge for users who had exceeded 20 thousand yuan in October 12th.

At the same time, traditional banks have recently launched "two-dimensional code" and "cloud payment" and other mobile payment products to accelerate the layout of the field.

The third party payment institutions and banks' "advance and retreat" are regarded as the prelude of competition upgrading in the field of mobile payment.

According to the insiders, although the market structure of the mobile payment market will not change dramatically in the short term, it will be a long-term trend for the large payment business to accelerate the return of the banking system.

For the reasons for the charges, the relevant staff of ant gold clothing told reporters: "while providing more and more convenient and safe services, the comprehensive operating costs borne by Alipay also increased rapidly.

The adjustment of the withdrawal rules is aimed at alleviated part of the cost pressure to ensure that Alipay can provide more quality services to users continuously and healthily.

According to introduction, Alipay withdrawals only involve withdrawals from the "balance" account to my bank card and pfer to other bank cards.

According to the adjusted rules, Alipay also charges service charges for 0.1% of the amount of the withdrawal amount exceeding the free quota, and the service fee of less than 0.1 yuan is charged at 0.1 yuan.

However, Alipay said that ordinary users can avoid fees by exchanging ant scores, opening "intimate payment" and using the balance of treasure.

According to the Alipay announcement, the pfer of balance treasure funds, including the pfer to my bank card and the pfer to Alipay balance, will continue to be free.

However, from October 12, 2016 onwards, the funds pferred from the balance of the new balance to the balance can only be pferred back to the balance and can not be pferred directly to the bank card.

In fact, as early as March this year, WeChat has begun charging 0.1% of the user's cash withdrawals, and each user has a total of 1000 yuan free cash withdrawals.

Considering that Alipay and WeChat both stipulate that "a single service charge is less than 0.1 yuan, according to 0.1 yuan collection", this means that the user will pay at least 10 Fen to Alipay or WeChat each time he withdrawals.

According to the data released in the first half of the 2016 Research Report on China's third party payment market released by Analysys, in the second quarter of 2016, China's third party payment mobile payment market grew faster, with a paction scale of 75037 billion yuan and a 25.68% increase of 25.68%.

The total paction scale in the first half of the year amounted to 134776 billion yuan.

Alipay, fortune paid, and La Carla occupy the top three in the market share, and Alipay ranks first in the market share of 55.4%.

Ma Tao, research director of the financial industry center of Analysys think tank, pointed out that the free Internet is actually someone paying for the users.

The third party payment platform, including Alipay and WeChat, has been undertaking corresponding costs for users.

The scale of hundreds of millions of users determines that the cost is enormous.

Platform free services can usher customers in the early stage, but after a large volume of customers and pactions, the huge paction costs actually push up the platform operation cost.

The reason why the small and medium payment platform still does not charge is because the volume of pactions is small, and the cost of handling fees has not yet formed pressure.

Insiders say that the advantage of the third party payment lies in its mobile payment.

Rich, and occupy a huge customer resources and sales channels.

However, despite the relative disadvantage of the above two aspects, traditional commercial banks have gradually realized the importance of this market cake, and gradually increased the intensity of layout in this field.

Dong Ximiao, executive director of Hengfeng Bank Research Institute and guest researcher of Chongyang Financial Research Institute, Renmin University of China, told reporters that the advantage of the banking department's payment is that its security is better, and the overall trust of the banking system is higher.

But the disadvantage is that in the past, commercial banks did not pay enough attention to mobile payment, especially in the convenience of small mobile payment innovation, which once walked behind internet companies, and the user experience was not as good as the former.

However, banks are now actively making up lessons.

At present, the main layout of commercial banks in the field of mobile payment is the "cloud flash payment" and other non-contact payment (NFC).

Last December 12th, China UnionPay combined more than 20 companies.

Jointly issued "cloud flash payment" in Beijing.

At present, most mainstream commercial banks can support mobile payment functions such as Apple Pay, Huawei Pay and Samsung Pay.

In order to attract more users to use "cloud payment", the major banks have also launched a lot of merchants' preferential activities.

It is worth noting that with the suspension of more than two years of the bank's two-dimensional code payment was re recognized by the regulatory authorities, many commercial banks restart the layout of the two-dimensional code payment field.

"Banks have always attached great importance to compliance. After the central bank halted the payment of two-dimensional codes in 2014, this business has not been carried out.

But in the past two years, the third party payment in this field has been in full swing.

Dong Ximiao said.

In the second half of this year, the central bank paid the liquidation association to the member units to issue the bar code payment business standard (Draft), and the business standard put forward a series of technical standards and specifications for bar code payment, and according to risk verification, the bar code payment amount was classified and managed.

China Construction Bank recently announced the launch of the payment brand "dragon payment", and announced that the "two-dimensional code payment" under the "dragon payment" product system will be formally launched in the near future.

ICBC has also officially launched two dimensional code payment products.

The two-dimensional code payment of the banking department attaches great importance to security.

For example, the ICBC two-dimensional code payment process handles the original card number mutation, concealment the real card number information, and does not limit the payment limit of 1000 yuan. Single and daily cumulative pactions can be managed by quota, and the 24 hour real-time monitoring two-dimensional code payment paction.

Dong Ximiao said Alipay,

In the short term, the impact on the whole payment system will not be too great.

"User habits development needs a process, so the change of user habits will also have a process."

He admitted.

However, he also said that microfinance is not expected to be affected too much, but that large payments will likely accelerate the return to the banking system in the future.

"This is in fact consistent with the policy direction of the regulatory authorities, that is, the positioning of the third party payment is a supplement to the whole payment system."

He said.

At the end of last year, the central bank formally issued the "non bank payment institutions' network payment business management measures". The "method" takes the real name system of payment accounts as the bottom line, gives a clear definition of the scope of Payment institutions, delineation of red lines, and guides Payment institutions to "banking", and further returns to the essence of "small payments" and "channels".

"For users who have frequent demand for pfers, they may return to mobile banking."

Ma Tao told reporters that as mobile payment is not just a pfer, from the point of view of paction structure, the third party payment users are actually spending more, investing in financial affairs and the corresponding livelihood financial services, which will have an impact. But in the short term, it will not impact on the big market structure. In terms of scenarios and convenience, the third party payment is still dominant, and it will take a long look at the scene expansion, product optimization and brand promotion of the UnionPay, commercial banks.

Alipay also said, "if users want to make a special pfer to the bank card, we suggest that you can choose some free pfers of net silver and other operations."

Dong Ximiao said that with the rapid growth of mobile payment in the banking sector, the change of market structure may start in 2017.

In February of this year, five state-owned commercial banks, including industry, agriculture, China, construction and exchange, decided to exempt customers from the pfer and remittance business (whether cross or off-line) handled by mobile banking. In July of this year, the "network banking alliance of commercial banks", jointly sponsored by 12 national joint stock commercial banks, was formally established in Beijing.

The alliance officially announced that inter bank pfer of mobile banking, personal internet banking and other electronic channels would be free of customer service charges.

The mutual recognition of mutual accounts between banks is free, and the minimum market price will be implemented in the exchange of funds.

Insiders said that the "holding up" behavior of commercial banks may also boost the pformation of the market structure in the future.