Fast Money CEO Guan Guoguang: My requirements for the company's products is more "dirt" the better

Entrepreneurship is the discovery of demand, to meet the needs of the process, now the Internet is why these few, mainly because they understand the structural changes in where the user's needs, as long as the main line to seize demand, entrepreneurship will become relatively easy.

Therefore, my requirements for the company's products is the more "soil" the better, because simple to popularize, the product without the specification is the best, because it does not need manuals, not to promote, I always say to myself, if one day like my parents such sixty or seventy-year-old people can use the "Fast Money" service, casually with a bank card for electronic payment, Then I will succeed.

Our company's name is "Fast Money", many people ask, in the end how fast? In fact, as a specialized non-financial payment clearing organization, our development is indeed very fast. In 2009 alone, our trading volume broke through 100 billion yuan. Although the global impact of the financial turmoil, electronic payment companies to other industries to provide payment services are accelerating. One example is the mobile online recharge service has become one of the most popular online consumption behavior, our mobile phone recharge service recently has a new breakthrough, has been able to cover almost all provinces, and the three major operators we can support.

In fact, the financial crisis is a good time for the development of enterprises. When the streets are bleeding, it is also the best time to invest. According to the development experience of the United States, from the late 60 to the middle of the 90, the United States spent 30 years to establish the entire credit payment system, the U.S. retail market in more than 70% of the transaction is through electronic payment channels, the China has not yet fully established the system. Now, China is moving from the cash economy to the electronic economy, this phase will emerge a huge structural changes, including infrastructure, basic applications, value-added services and other related industries have provided the third party payment industry unprecedented space for development.

At the beginning of the quick money, many people told me that the electronic payment industry is difficult, can't do it, there are many problems in regulation, operation and policy, but we finally do it, in the process, there will be a lot of sense of achievement. A grass will not grow out for nothing, and whenever you are willing to try, to wake up the dream.

I used to do a value-added business in NetEase, at that time found that if the user received 1 yuan, to spend 5 to 6 dollars in the cost, because the means of payment is too backward, from 2002 onwards, the domestic financial enterprise technology construction gradually mature, payment conditions greatly improved, and therefore spawned a large number of payment enterprises.

Electronic payment is undoubtedly the most important part of electronic commerce. As we all know, information search has created a star enterprise such as Google and Baidu, but information search is only a very small part of all our spending processes. Just like when we go to a restaurant, we pay Google and Baidu the same amount of money that the restaurant owner pays for the staff in front of the restaurant, and the visitor comes in or consumes the entertainment, which is much higher than the income of the receiving position.

In fact, China's E-commerce after 10 years of development has undergone great changes. This has two of the biggest drivers, new media users a lot of growth and traditional industries to E-commerce. The biggest engine of economic growth is still in the traditional sector, where the growth of the payment industry is here. Therefore, the payment of products if high, it is difficult to use, it is not the opportunity to do big, because the cost of education, users have a path to rely on psychology, will instinctively refuse those services, it is difficult to popularize. Therefore, we have been in the technical research and development of spare no effort, now has a nearly 200 people's research and development team, a variety of technical means is to make money move more convenient.

Because only money is getting faster, the economy can grow more rapidly. 2008, the national capital flow is our country GDP nearly 30 times. This means that a piece of money is transferred from people's pockets 30 times to produce a dollar of gross national product. And the United States on the same scale, can be transferred 60 to 70 times, the efficiency of funds significantly increased. So how can we make the company's capital run efficiently? The answer is that it must be operated electronically. The ultimate driving force of this road is the development of our economy, especially the development of traditional industries.

Founder Fast Money for several years, one of my biggest feelings is seemingly simple mode of traditional enterprises, strength is not to be underestimated. The year before last I visited a customer, only sell wicker chair, there are more than 10,000 sales staff, the volume is very large, particularly fast development. But on the other hand, it is not easy to do the electronic payment business of traditional companies, one of the main reasons is that it is difficult to find electronic payment solutions for traditional industries. Each industry has its own industry characteristics, such as whether the Commission is paid in front or at the back end, an industry will not change its industry rules to adapt to the electronic payment scheme, but must develop a solution that can adapt to industry rules, this is difficult.

In this year's two sessions, Premier Wen's 2010 GDP growth rate was set at 8% in the government's work report. In China, the proportion of GDP is still dominated by a large number of traditional industries. CPPCC member Qiang called on the government to pay more attention to the construction of electronic payment system. He said in his proposal that electronic payments, adapted to the backdrop of a new financial crisis and international competition, would play an important role in the restructuring of our economy and the transformation of economic growth patterns. The competent departments at all levels of government should fully understand the important position of electronic payment enterprises in China's payment system, combine the policies to support the development of electronic payment organizations and create national electronic payment innovation bases. This is very important.

Today, China's internet population has broken through 370 million, I understand from the customer's current situation and the problem is that enterprises want to get customized payment scheme, driving the overall operational efficiency of the promotion, but the current commercial banks to provide standardized payment services in the capital processing efficiency, the integration of capital information flow, Personalized services and so on can not meet the growing needs of enterprises. In particular, when the whole industrial chain to e-commerce transformation, the industry E-commerce solution must be across the bank, the main business of both large enterprises have small and medium-sized companies and even individual users, they need to have the industry-specific overall solution. These problems have proved that China's e-commerce needs to establish an independent, open system, the broad focus on all the advantages of resources, thus driving the progress of the entire mobile interconnection industry, only in this way, China's economic and social capital flow can become faster.