Online payment breaks traditional online shopping limitations and creates differentiated payment solutions

After several consecutive years of rapid development, the domestic online payment industry, the overall size of a trillion, has been a very concerned topic in the industry. The target is expected to be reached this year, according to the latest data forecast by the investigative agency, Eric. The company expects the domestic online payment industry to reach 576.6 billion trillion yuan in 2009, and is expected to hit 1 trillion for the first time this year, up 80 billion yuan from its previously projected target of 920 billion yuan.

Breaking the traditional online shopping limitations

The optimistic outlook for the industry is based on three reasons, says Eric. First, third-party online payments are still relatively low in the proportion of social payment transactions, in the future, the proportion of electronic payment will increase, while the third party online payment operators are the most competitive part of the electronic payment industry chain; Secondly, the current e-commerce to some extent changes in China's business environment, the future of this change will continue, And the next five years is the period of initial success and continue to advance, in addition, the current online payment industry competition is more benign, and industrial chain cooperation is more closely, can create value for many parties.

In 5 years, the domestic payment industry has emerged some rapid growth of enterprises, in the application scenario, the payment enterprise is not limited to online shopping, but more to the people's livelihood infiltration. Eric believes that the depth of application industry and the development of new applications can effectively enlarge the user scale and promote the growth of turnover. In the company's view, B2C/B2B's breakthrough was fruitful last year and remains to be broken in the years ahead.

According to statistics, 2009 online Payment user scale growth rate of 73.1%, and depth of user growth is less than 20%, so improve the user's use of stickiness is the key to the development of online payment. At present, in addition to Alipay, other platforms in the industry are difficult to find to continue to effectively attract users to use the method, which has become a platform for many platforms difficult to contend with Alipay key.

Creating Differentiated Payment Solutions

2009 is the 11th year of China's online payment development. During the year, the online payment market continued to grow strongly, with trading volumes doubling for 5 consecutive years, expected to grow by 110.2%.

Compared with the rapid expansion of the industry scale, the growth of online payment users is also rapid, compared with 2008 52 million, 2009 domestic online payment users grew to 90 million, the growth rate reached 73.1%. Alipay is the leader in 49.8% market share and continues to draw a gap with other platforms in terms of individual users. Eric Consulting analysis that online payment has become the Internet star industry, and the leader Alipay become the Internet's most anticipated Nova.

It is reported that from August 2008 to July 2009, less than a year time, Alipay registered users increased by 100 million to 200 million.

In order to expand more users, enhance the use of viscous users, it is suggested that third party vendors can learn from Alipay to optimize the user experience; second, these manufacturers can be targeted at the crowd development, for the audience to provide differential payment for the overall solution; In addition, can expand people's livelihood industry such as train ticket network purchase, hospital reservation, Although the expansion of a certain degree of difficulty, but can solve the needs of the people's livelihood, enhance the use of viscous users; Finally, manufacturers should actively communicate with users, for users reflect the lack of product and system innovation.

Application industry will be the key to push forward

Specific to the industry enterprises, just set up 5 years of Alipay to 49.8% market share leader. In the past year, Alipay has strengthened the advantages of personal clients, and has a better performance in enhancing security, enhancing user experience, innovating personal services, increasing application areas and improving payment channels, and continues to draw a gap between individual users and other platforms.

As the largest Third-party payment platform, Alipay from the original Taobao online shopping payment tools, has now developed into air tickets, virtual industry, consumer and other industries have 50多万家 merchant's payment platform. In addition, Alipay also plays an important role in the public utilities related to people's livelihood. At the end of last year, Alipay announced its turnover at the end of 1.2 billion yuan, and the number of users exceeded 200 million.

Industry analysts point out that third-party payment companies can increase the number of applications in the industry as a new year's focus. Specifically, in addition to increasing network insurance, business-to-business Capital settlement and product innovation efforts, these manufacturers can also actively expand the train ticket and other emerging markets, and grasp the pulse of e-commerce development, to help traditional enterprises e-commerce.