Box paid yet profitable Chinese square targeting data marketing

Intermediary transaction SEO diagnosis Taobao guest Cloud host technology Hall

3.5mm phone audio interface has never been taken seriously, recently let this interface popular, is a phone card reader small peripherals.

The card will be connected to the phone's headphone hole, you can pay by credit card anytime. On the other side of the ocean, the U.S. square, a mobile payment provider, has rewritten the definition of commercial payments. In China, box payment, Lakara, such as mobile phone card reader products, etc. are also cultivating new consumer groups.

Recently, the box payment and suning easy to purchase cooperation, this is its first public and nationwide large-scale electrical business all-round cooperation. Suning in the purchase of shopping consumers, through the box to pay for direct credit card consumption, less than cards and online payment methods, the risk of less than 75%, no need to open the net silver, the transaction is no longer subject to bank cards and card species restrictions.

For Suning easy to purchase, previously through online payment can not be completed large order transactions, no longer need to split orders or offline payment, capital settlement way more flexible, more convenient capital collection, the future will expand to the offline distribution of mobile payment.

"We're just channels."

Box Payment founder and CEO Hansen said in an interview with this newspaper that he dropped out of business when he was in college, and has had 4 entrepreneurial experiences so far: IC sales, RFID, Smartphone solutions and now box payments. One day in 2010, Hansen to the bank to do business, waiting for more than half an hour after an inattentive number again, to rearrange. When the smartphone burst that year, Hansen the idea of achieving all the personal financial services at anytime.

He proposed the concept of IPOs (mobile POS)-Porting POS devices to mobile phones. At that time, he had found a similar pattern abroad, but directly copied to China is not realistic. Because the financial environment is very different, such as the U.S. credit system is better, its standard credit card payment process without the password, enterprises can make their own trading rules. After the study of the mobile payment model in line with the national conditions, Hansen in Shenzhen in March 2011 to set up a box payment company.

In June 2011, boxes paid for the mail received by square, and the harsh wording in the mail was clearly not intended to come to China to discuss cooperation. The letter Square accuses the box of paying for "blatent Square ripoff"--square obvious copycat.

Hansen first replied to Square's mail and replied: "We put forward the concept of IPOs two years ago, and we believe that square is not suitable for China, so we have developed a very different iboxpos and square, you are one-way input, we are bidirectional input, and support Emv/rfid/ Sensor and so on different standards, so our business model is not the same. ”

If only the box to pay as a "universal pay" a terminal, that Alipay, Tenpay and other payment platform can develop their own mobile phone card terminals, and they have their own large fixed customers. In fact, most companies have the ability to legally access an open payment platform, now there are many manufacturers can do this type of mobile card production, not to mention the payment license and payment platform for the enterprise. By then, where should the box be paid?

Hansen said that box payment will not create a threshold and vicious competition, "We are only the channel, is a platform service provider, for UnionPay partners to build a shared platform, open to everyone to use, the only limit to enter is the unified standard and safety standards of UnionPay." ”

According to Hansen, Box payment is not a Third-party payment platform in the traditional sense. "The box pays to cooperate with all the electric business enterprise and payment platform, which is our biggest advantage------------------------------------------------ ”

Technically, "buy anything" is not difficult, the real threshold is the payment platform itself. Box payment functions include: Bank card transfer, lottery purchase, ticket ordering, movie ticket ordering, PC Card consumption, e-commerce, phone recharge, balance inquiries, credit card repayment, water and electricity gas payment, etc., the future can continue to expand. It can now support the iphone, ipod Touch, ipad, and all branded handsets under the Android system in iOS.

Planning for accurate Data marketing

So far, box payments have not been profitable. According to the introduction, the main sources of its profits include: Transaction rate of splitting, business promotion service fees, and the future of the transaction data mining value-added service charges.

The box pays the card to pay the price 198 yuan, but the domestic market other swipe card device mostly only dozens of yuan.

The box to pay for this explanation is, "we do not intend to profit through the hardware, but the use of asymmetric encryption chip, the hardware before the data out of the financial hardware encryption, only the cost of this encryption chip than similar products more expensive, in addition to our platform operating costs and technology development costs are higher than other products.

According to the provisions of China UnionPay, the current application of box payment is limited to individual payment business and industry merchant receipts business.

Box payment in the personal payment for the convenience of services, free of charge, some personal financial services discretionary charges; In the mobile payment for the electric dealer, the rate will be more to the net Bank Rate, the deduction rate is slightly lower; in the future, for small and medium business receipts, the collection will be determined by China UnionPay and the receipt line, no higher than other payment channel rates.

In addition to special industries, at present, with the silver joint production of trading flow of the deduction rate depending on the nature of the merchant between 0.5% to 1%.

As a payment channel, to master consumer Information, to understand its preferences and consumption habits, this data mining or will be the box to pay for future profitability of the core point. The Precision data marketing business that has been introduced to the merchant is the first source of square profit, and the future box payment will also devote more in this respect.

In Hansen's view, the platform is not a problem, profitability is not a problem, and constantly improve the user experience, so that users in more places to pay the box, for more users of habitual use, is the most important thing in the present.