Large data applications are still at an early stage

Over the past few years, big data has sprung up, bringing transformative opportunities to all walks of life, and this change is seeping into people's daily lives. The third party payment industry is no exception. Since 2011, when the People's Bank of China issued the first licences, the third party payment industry entered the post-license era, the whole industry is facing fierce cross-border competition.

At the same time, the internet age, large data for any enterprise is an important asset and competitiveness. For paying enterprises, large data is the base of their core competence and platform. At present, what is the application of large data in the payment enterprise? What are the characteristics? What is the effect on the development of the payment enterprise? This reporter interviewed the related payment enterprise.

What are the characteristics of new technologies represented by large data in the payment industry? UnionPay Business President Xiaofeng in an interview, said that the payment industry has four characteristics of large data: first, large payment enterprises have a natural large data resources, that is, payment transaction front-end generated large amounts of data, for large data analysis provides an opportunity. such as the current number of service merchants UnionPay 3 million households, terminals close to 4 million units, the 2013 transaction size reached 9.1 trillion yuan, the vast number of customer resources, terminals and transaction information are composed of valuable "large data" content, the second is to use large data for innovation. Large-scale payment enterprises with strong customer base and data accumulation, to provide customers with new value services, the realization of new business model, open up new market space, which is the most direct impetus to the development of large data; third, the use of large data to enhance their own operations and service levels, to pay for the sustainable development of the company's new round of core competitiveness, This includes business process optimization, risk control, service channel upgrade, customer service experience upgrade and so on; four is a new round of it construction and investment around large data. After all, large data applications at the technical level need to have a very powerful data storage, processing, computing and analysis of the technical platform as a support.

Alipay related responsible people think that the payment enterprises to apply good data, should have four kinds of ability: first, with a large number of users; the other is, with a lot of transactions or interaction times; third, with the ability to provide massive data processing capacity, four, with rapid response capability.

Today, for the payment of enterprises, although accumulated a certain amount of data, but also claimed to be effective in large data applications. However, there are also market participants do not agree with this view, at present, the payment enterprises in the application of large data to promote more ingredients, the real goal of the promotion of business seems premature. In this regard, Xiaofeng said, this statement actually reflects the large data application is still in the initial stage of development of this reality, but it is too early to judge big data publicity than its business use. In fact, large data applications are a long-term task that requires continuous research, exploration, trial and error, and improvement.

To "Every day rich" internet financial services Platform of the POS loan products as an example, it is a real big data successfully applied products, whether for merchants, banks, or for UnionPay business itself, its business promotion role are reflected. At present, UnionPay business in the large data application effect is very good. From October 2013 on line to date 7 months, "Every day rich" platform launched a variety of financing products total amount has reached 6.4 billion yuan, only with Citic Bank (601998, share bar) of the POS loan products have more than 5,000 households to provide more than 20000 small business loans, The total amounted to 4.49 billion yuan.

After accumulating a large amount of data, how should the payment enterprises make greater use of large data to seek greater development?

Xiaofeng that in the era of information-king, the control of transaction behavior and information data has more discourse power.

He said that the payment enterprise through the most front-end payment transaction services, accumulated a large amount of customer resources, transaction information, intelligent equipment behavior information. These data are the carrier and support of the payment enterprise to provide further value-added services to customers, deep excavation and use of these data, can help pay enterprises to achieve new development: first, a large data platform to break the company's internal information island, through a full range of data views of 360 degrees, in-depth excavation of customer demand, speed up decision-making process, reduce duplication of labor , improve the overall operational capacity of the enterprise; the second is to use large data for product innovation, deep into the merchant back-end, fine operation of the old customers, the realization of maximizing the value of the merchant, and even become the next opportunity to detonate the innovation point; third, through the intelligent analysis of massive data, payment enterprises can be in risk control, anti-money laundering, anti-fraud, customer loyalty, Marketing means such as optimization or value conversion, and ultimately through large data to promote the payment experience. Above, UnionPay business is exploring to try.

According to Xiaofeng, excellent data analysis and application is the key to pay innovation, "Every day rich" internet Financial Services Platform, "Universal pay" mobile phone client "O2O" application, "grand Czech Qualcomm" E-commerce logistics platform, are UnionPay business based on large data innovative applications, These innovative applications are not only embodied in large data technology, but also include the company's understanding of customer needs based on large data, marketing transformation, new modes of cooperation with the upstream and downstream of the industrial chain, and the operation of new business models.

Alipay related to this said that, in the future, large data will increasingly become a core capability of Internet enterprises. More in-depth use of large data, you can through the following channels: first, improve product and service quality, enhance user stickiness. To provide a rich source of large data and, second, to enhance the basic information service capabilities. For example, enhanced capabilities in infrastructure such as cloud computing can effectively improve information processing capabilities.

According to the introduction, large data on Alipay has the following impact: first, to feed the merchant, the effective use of large data and analysis can help pay the enterprise very good feed-feed businesses. Recently, for example, Alipay recently launched the Alipay Wallet service window. In this way, Alipay through the service window to provide large data for the settled pay treasure platform for the enterprise's feedback, let the enterprise realize the effect of large data; second, the protection of wind control, massive data can help pay the enterprise to effectively judge an account of the risk level, the internal wind control is a great help; third, output large data value, Alipay can output large data value for microfinance business and business related to credit system through Alipay's data.

However, looking at the development of the payment enterprise in the big Data application, it is still in the initial stage, and there is a lot of data to dig deeply. How to make better use of large data to improve business is still a long-term solution to the problem of payment enterprises.