Alipay CEO: Third party payment is shrimp business

Third-party payment platform is a good solution to the credit problem in the network transaction, but also because of the capital deposit, the impact of banking and other financial risks, and the central bank's "liquidation organization management measures" has not been published, the third party payment policy is still unclear.

Recently, as the largest independent third-party payment platform, Alibaba's Alipay company president co-founding accepted this interview that the third party to pay belongs to the "shrimp" business, do is always the bank is unwilling to do. He said: "I believe we must and can find a place that neither affects the interests of the banks, and then we can profit and survive with the banks." ”

Journalist: Unlike foreign countries, why is it more like a credit intermediary in China than a third party?

Co-founding: The reason why E-commerce in the United States can be successful, is very important because the United States has established a Social credit system, and China is the construction of the credit system has just started, so the domestic third-party payment companies in addition to meet the needs of users to pay, but also play the role of credit intermediary.

Journalist: where is the location of the third party payment?

Co-founding: We are still an Internet service provider, just providing the services and money. For China's entire financial system, we are just a complement.

Journalist: Your tentacles are extending from individual sellers to corporate businesses, will this rob banks of their big customers?

Co-founding: Alipay's settlement end is in the bank, so the bank charges affect our survival, we need to find out where we provide value-added services for our customers. Now Alipay offers a secured transaction to resolve the C2C website above a transaction security and integrity issue. This is exactly what the banks are not going to do. As a big bank, there is no time and energy to do it, which is why we have developed so fast, and the bank has so much support for an important reason.

Reporter: At present the third party pays the enterprise the growth is very fast, does this imply that the third party pays has the huge profit space?

Co-founding: Third party payment belongs to the "shrimp" business, first of all, the development of E-commerce in China late, people on the field of electronic payment and the corresponding cost is not clear. In addition, since the BtoB of large sums of money is transferred to the clearing and absorption business, third party payment companies are not allowed to enter because of their lack of business license, so they can only make small payments for individuals and businesses as the main objective. Because the transaction amount is not big, the merchant pays the liquidation payment fee to be also small, the third party payment company can only rely on increases the transaction flow to increase the income, the marginal profit is lower.