From the virtual credit card was stopped, see what other "mined areas"?

The author presses: Although the balance treasure and other Internet wealth management products have been fire for half a year, but internet finance is still in the ascendant stage, the huge potential has not yet been completely released. This is not the case, the virtual credit card began to give the market again a huge impact, but then the central bank to stop, which the enmity of many people can not touch the mind.

The Internet financial earthquake is a burst of, the front of the various "babies" and the traditional bank of the game is not over, the public chip and other models are still popular, and suddenly came a blockbuster-virtual credit card. Ali and Tencent began a succession of hands, once again showing their own advanced awareness and innovative concepts. The move also led to the bank's "excitement", have exclaimed "Wolf". Virtual credit cards have undoubtedly dug into their corner as credit cards have become a larger part of traditional bank earnings.

But the trend was suppressed, the central bank issued an emergency document to stop two of virtual credit card products, the reason is that virtual credit card break through the existing credit card business model, in the implementation of customer identification obligations, the protection of customer information security and other aspects of further research. At a time when the "babies" hit, the central bank did not respond immediately, but rather as a "catfish" that churned out financial markets. So why are virtual credit cards "strangled" at the start of their birth? Is it because it stepped into a lot of mined areas?

Virtual credit card, to pull out a number of "virtual Credit products"

March 11, Ali small Micro Financial services group officially announced that the United Citic Bank will jointly launch the first domestic virtual credit card, the first batch of 1 million issued. The application of this virtual card is very simple, only need to pay the PO users in the Alipay wallet mobile end of the "CITIC Bank" public account operation, instant application, instant approval. This eliminates the traditional credit card online submission application, Customer Manager on-site confirmation, rating and delivery of up to one months of application steps. In addition, this card's credit line from 200 yuan start, according to the personal network credit degree determines the limit.

Tencent, as Ali's old rival in Mobile Internet, was not outdone, after Alibaba announced the first virtual credit card issued by the United Citic Bank, Tencent also announced the launch of the United Citic Bank micro-credit card. At present, this business is still in the beta stage, the early stage will be for users in batches of open entrance. Qualified users to enter the micro-letter "my bank card" zone, you can see the application of Citic Micro-credit card entry, in the input name, ID number, mobile phone number and other real information, by the Citic Bank for approval, the results can be immediately known. In addition, the credit card is divided into three grades: 50 Yuan, 200 yuan and 1000-5000 yuan.

In fact, businesses like virtual credit cards have been involved before, but not as direct as Ali and Tencent. On February 13, 2014, Beijing-east launched the "Beijing-East White Stripes" Business of the public test. At that time, ping an securities to evaluate it as "Internet companies in the latest expansion of credit business, is the industry landmark event." "Beijing-East White Stripes" The first batch of public test places for 500,000 people, each user can obtain a limit of 15,000 yuan in the credit limit, the application can use the amount of the Beijing East official online shopping consumption.

However, unlike the virtual credit card, Jingdong did not choose the cooperative bank to provide credit loans, but the use of its own funds to turnover, to shake off the banks themselves. But is limited to the Jingdong to the user credit audit speed is slower, and covers the group to be narrow, did not cause how big wave. And the introduction of the virtual credit card is a stone stirred thousand layers of waves, the two giants of the joint action quickly ignited the public opinion on the virtual credit card attention. Many in the industry believe that under the impetus of these two giants, virtual credit cards will replicate the "Baby" miracle, the internet finance to a new peak.

This is because, in a sense, virtual credit cards can play the role of leverage, pry the entire credit card industry changes. Because of the small amount of virtual credit cards, customers in the overdraft on the interest rate is extremely insensitive, 1000 yuan even if the annual interest rate of 20% to bring the circular interest is only 15 yuan per month, more easily form overdraft habits-like "babies" let users have the concept of financial management, and then change their past savings, investment and other habits.

It can be said that, although the current virtual credit card overdraft level is low, but does not prevent it in the form of increase after the scale. As a result, the credit card business of traditional banks has been hit. In addition, the other important significance of virtual credit card is to collect user information and form large amounts of data. The virtual credit card can analyze the customer's actual consuming ability and the real income level hidden behind it through the daily consumption record, and its reference value is much higher than the traditional credit card customer's income proof and Occupation certificate.

Central bank halts, blue Sea is "minefield"

However, in the industry's imagination of the future of virtual credit cards, a basin of cold water poured over. The central bank issued an emergency document, "The People's Bank of China paid the settlement division on the suspension of payment Bao company line barcode (two-dimensional code) payment and other business views of the letter", stop Alipay, Tencent's virtual credit card products, the reason is clear-virtual credit card break through the existing business model, in the implementation of customer identification obligations, The protection of customer information security has yet to be further studied.

For a while, a variety of voice on the Internet, mostly criticized the central bank's move is not user-friendly, forward-looking, and hit the enthusiasm of internet companies, and even some people think that this is the traditional banks to avoid a repeat of the fate of financial products, and deliberately "begged" the central bank to make restrictive measures. But in fact, the central bank move early in the author is expected, because with "baby" these Internet financial products, the characteristics of the introduction of virtual credit card into a number of "mined area."

As early as in 1996, the central bank issued the "credit card business management measures", the credit card according to the carrier material to distinguish between magnetic stripe card and smart card two categories. At that time not to mention the virtual credit card, even the internet has not been universal. But the rule remains that without the definition of a virtual credit card, the legitimacy of the virtual credit card will always be questioned – the first "minefield" of virtual credit cards.

In January 2011, the CBRC issued the "Commercial Bank credit card business supervision and management measures", which contains all aspects of the credit card business provisions, almost no omission, but the virtual credit card has many times in the "Blade dance." In the application material link, according to the method 37th, the credit card application materials printed by the card issuing bank should contain the applicant's information, contract information, expense information and other information, even the statement of the signature and the winning copy. But it is easy to see from the selling points of Ali and Tencent's virtual credit card, "online real Time", that is to ask for, that is, to pay.

In the identification link, approach 41st stipulates that the issuing bank must confirm that the applicant has a fixed job, a stable source of income or a reliable repayment guarantee. 42 It is clearly pointed out that the first application of the bank's credit card customers, not to take the whole system automatic issuance of credit cards. In short, the bank must manually confirm whether the applicant has the qualification of the application, and even some banks require the applicant must go to the counter to verify the identity to activate. But the virtual credit card does not fully recognize the identity of the applicant, only relying on the application of the applicant's consumption limit, ID card information, mobile phone information can not guarantee, confirm its repayment capacity, reputation, and so on, resulting in a great risk-this is the virtual credit card entered the third "minefield."

In the course of use, the virtual credit card has many uncertainties. For example, its security is questioned, how to protect users after the loss of mobile phones, virtual credit card is not stolen, how to prevent it will not be remote brush, etc. are the Internet enterprises must face the problem-the balance treasure stolen cases we still remember; After the future growth, more difficult to control ... All sorts of uncertainties are more like the barrage of virtual credit cards-the fourth "minefield" of virtual credit cards.

It can be seen that the central bank suspended virtual Reference Card is also a certain reason. Even if those old-fashioned and outdated management methods do not give the definition of virtual credit card with the development of the times, they are "ridiculed" by the industry, but in fact, the virtual credit card has many flaws that cannot be avoided, and it has entered many dangerous "mined areas". A little attention, it will cause a series of chain reaction, in the financial sector and even the social field of great turbulence. But those who favor virtual credit cards don't have to be pessimistic. You know, the central bank this time just "pause", not completely "erase". After the technical conditions, social conditions further mature, virtual credit card will still usher in its own glorious day.