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Monday, May 11, 2009

Strategic modification UnionPay Bao pay to move into the web will face serious tests

By Zou

Where profitable, where calm doomed.

To cover the Po to represent the "militia" will usher in teams or with the bank, "regular army" positive confrontation. It is reported that Bank of China has made important strategic adjustment, the promotion of the online payment business in 2009 included one of the priorities. Signal is one of its business, specializing in online payment subsidiary CHINAPAY (CHINAPAY Services Limited) in Beijing last week to promote, then there will be key areas in the country to carry out a series of promotional activities.

In the mesh to pay into the "big cake", the Bank if such a move would have "reap the profits," suspicion? China UnionPay businesses prepared to take-all mesh will pay for new monopoly? Po to pay personal businesses comprised will be hard hit? Consumer Network buy free of ascribe if or not the forthcoming end of the era? Followed by numerous problems.

New environs of purpose, or will be striving against for

"The market is open, no one has the right to enter." Association of Chinese e-commerce policy, deputy director of the Legal Committee of Allah wood in an interview here today that the payments in the network, CUP is not a new army, began several years ago online payment has been done, and now it is only necessary to intensify efforts. According to public information: the current business market, third-party payment is the first payment of Po, the second pass is a financial payment, the third is UnionPay CHINAPAY.

Email UnionPay show up with the "combat effectiveness," Adams Wood Allah that the two boundaries have their respective advantages. Bank's might lies in practical employees and other supplies are abundant, for instance enterprise liquidation paths are open, and that no one can. Treasure, but the compensation has its own natural superiority, principally in the wholesome online purchasing understanding, from Alibaba and Taobao to the compensation of the Po to Yahoo China, a succession of mutual support brand label, immense buyer foundation, are the sole advantage.

Another purpose that can not be dismissed, AliPay number of banks have freshly united hands in the schematic launch of a one-stop throughout the compensation of public utility services, population can pay their water line, electrical power, gas and communications charges, for instance day-to-day. From a certain purpose of scenery, this has been the banking enterprise in the environs of value-added or broadened operations.

"These new areas of focus will be competing for the two sides of the object, it is bound to lead to fierce competition, who will win this battle that is still not good." Allah Adams Wood that the central bank as a third party to pay for step-by-step attention to the payment network the relevant license is also apparent that once the central bank has issued a formal license, AliPay can pay with Bank business in the all-out war.

Be treated with caution buyers not purchase it

"Resolutely are against to the referee to play!" Network for the Bank to pay into the general buyer is not good, some persons even state, as the manager of the Bank, it is significant that the workout of administration purposes and set up a third-party likeness, other than with the the persons for profits.

More population are anxious about the compensation of state-owned enterprises included in the web will carry the risk of monopoly. The client is not that there is no justification to anxiety about, after all, free loan small discern accusations are "criminal record" and would like to first let the interbank payments and accusations more than more population had a psyche to stay.

"UnionPay official background, once entered, is likely to make use of its official privileges to suppress non-governmental third-party payment, into a monopoly." Taobao shop in more than 3 years of a seller's view of the diamond quite representation.

In reply, advocates trust that a entirely market-oriented performance, it is impractical to win by a monopoly of the client good. The market for themselves, or to pay by Bank Po, clients have the right to decide entirely. UnionPay Bao if paid better than good, clients will be cheerful to see.

Expert analysis: not necessarily a good thing

"Online payment market is now very active, but still a lot of issues, the most important is the credibility and security issues, and the Bank for online payment of intervention can be a good solution to the current problems. From this perspective, access to the Internet Bank payments to consumers may not be not a good thing. "

As e-commerce legal expert analysis of Allah wood Adams that "the funds to pay the network security issues is very important, but in the current practice, the implementation of electronic signature law is not good. Electronic signature is relatively complicated, a lot of people do not want to use various industries to promote well, these are a direct result of the safety of online shopping is not high, cut fraud constantly repeated. banks are only required to have a clear third-party certification, which is for the protection of the rights of consumers is very necessary. UnionPay will standardize the market intervention to protect the financial security play an important role in promoting. "

China UnionPay will purpose for the implementation of online compensation knowledge, AliPay pertinent someone to answer publicly today that the market space is very large, greeted the participation of Bank combined deduce the market. - 20769

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