China Post Puts Mobile Payment to Build 100 Million Yuan Service Base

"Postal Boss" China Post, is expected in the transaction amount has exceeded 10 trillion yuan in the field of Internet mobile payment, "a share."

Recently, China Post planned to invest 100 million yuan to set up an electronic payment service base to launch mobile phones and Internet payment. It is reported that the People's Bank of China Chongqing Camp Department has accepted the application.

In response, Wu Chunyong, an expert on the financial industry, pointed out that this shows that China Post started to exert force in the field of third-party payment. "There is a huge market prospect for the Internet and mobile payment, and the demand is being stimulated in particular in the field of mobile payment." However, Alipay and other big giants have dominated, China Post in this area will face the challenges of power. "

Build service base layout

In June, China Post reached a strategic cooperation agreement with Alibaba. The two sides will cooperate in such fields as logistics, electricity supplier and finance. A month later, China Post planned to make Internet mobile payments.

It is understood that China Post intends to invest 100 million yuan to establish an electronic payment service base, power cell phones and Internet payments, China Post Group is the main investment, the current People's Bank of China Chongqing Camp Department has accepted the application.

PBOC application information announcement shows that China Post Group Corporation invested 82 million yuan, accounting for 82%; Chongqing Post Company invested 9 million yuan, accounting for 9%; Shaanxi Province, 9 million yuan postal company, accounting for 9% of the office Location is located in Chongqing.

It is reported that the company intends to apply for the payment of business types "Internet payment" and "mobile phone payment", the business coverage of the country; the use of the payment business related systems developed by the company independently, its ownership completely belongs to the company.

The move is seen by the outside world as postal elders China Post layout third-party payment areas. "By setting up such a platform, we can make an entrance for Internet mobile payment." According to Wu Chunyong, a financial expert and triple play editor, China Post may or may be able to obtain third-party payment qualifications.

Why China Post suddenly announced the creation of Internet mobile payment platform, Internet analyst Chen Shou send gives another possibility. "Post e-commerce platform below, but the post itself did not have the appropriate payment qualifications." Chen Shou sent that postal idea or for its e-commerce platform to provide payment services Yule net. "Daily Economic News" reporter learned that the e-commerce platform Yule net by China Post and TOM Group co-create, mainly selling brand apparel, shoes and hats and so on. China Post holds 51%.

"Without qualification, we do not have the ability to pay for the Internet or mobile payment." Chen Shou-seng said that in the future, he would like to apply for corresponding qualifications. China Post or even more focuses on serving its own e-commerce business. At present, the market prospect of third-party payment is unanimously optimistic.

Beach 10 trillion market?

Today, the concept of Internet finance continues to heat up. Services such as internet payment have also become the areas where domestic enterprises have been gaining ground.

"The third-party payment market has a bright future. In particular, the penetration rate and actual utilization rate of mobile devices are getting higher and higher. Corresponding channels have gradually opened up and the development is even more rapid, which is a vast market area." Wu Chunyong said.

Some of the latest data released also reflect the rapid growth of this market. In May this year, China Payment & Liquidity Association released "Operation Report of China Payment and Clearing Industry (2014)" shows that in 2013, the third-party payment market reached 16 trillion yuan. Among them, a total of 15.01 billion Internet payment businesses were handled in the year, amounting to 8.96 trillion yuan, up 43.47% and 30.04% over the previous year respectively. Payment agencies handled 3.777 billion mobile payment businesses in total, amounting to 1.19 trillion yuan, up 78.75% and 556.75% over the previous year respectively.

Third-party payment market, especially the rapid growth of mobile payment, is generally favored by the outside world. However, some analysts believe that the layout of China Post today also faces many tests.

"Alipay, TenPay and other giants have firmly occupy the market, later those who want to seize the market is not difficult," Wu Chunyong said.

Earlier this year, Analysys think tank released data show that in 2013 China's third-party payment agencies accounted for the market, the top three were UnionPay business transaction share accounted for 42.51%, Alipay accounted for 20.37%, TenPay accounted for 6.69% .

Currently, the domestic third-party payment market competition is more intense. Last year, mobile payment market has become the focus of the layout of the Internet giant, Baidu, Sina have introduced mobile payment services. Late last year, Alipay Wallet and WeChat pay significantly upgrade the competition.

"With the existing play of China Post, its strength lies in its own strength, integration of resources, etc." Wu Chun-yong told the Daily Economic News reporter that the short board lies in specific operations and promotion and market operation in the later period .

In the future, the third party payment service under the China Post will undoubtedly have more room for development if the banking business of China Post is seamlessly connected.

In April this year, China Post reported that China Postal Savings Bank has 430 million customers ranking first in the country, of which 90 million have opened e-banking channels. (Intern Huang Li also contributed to this article)