A First Look at Payments, Transactions and Settlements

Payment: cash payment, electronic payment

Electronic payment: mobile payment (mobile devices); Internet payment; third-party payment (Alipay WeChat)

Market share: CaiFaTong (WeChat): 38.8%; Alipay: 55.1%; One Wallet (PingAnPay): 1.5%; Jingdong Payment: 0.9%; Quick Money: 0.6%; Linkage Advantage: 0.6%;

II. Difference between x-party payment:

One-party payment: cash payment; transaction between buyer and seller through currency;

Two-party payment: transaction behavior through direct bank transfer; buyer -- bank clearing; point of return is to earn the difference; the reason why it is legal, because it is not involved in the clearing, the money does not reach its account, is only responsible for docking interface;

buyers, sellers, four-way polymerization, third-party payments, banks

three, UnionPay / Netflix and the relationship between the banks

UnionPay is a national organization, the core role of the interbank transfers, statistics and unification of the data of all the banks;

Payment organizations - > UnionPay - > banks; UnionPay is the way to go;

IV. Important modules of the transaction

Order : The order module has three main links: price calculation, order generation, order management;

Price calculation, if it is in the e-commerce, its price in addition to the price of the goods themselves, there are coupons, combinations of discounts, points discounts, shipping costs and so on.

Order generation, is based on the user and the seller as well as other factors to generate orders, in some cases the user to buy more than one item at a time may need to be split into multiple orders to manage

Order management, including shipping, receiving, returns and exchanges, and so on, through a variety of operations and state of the order management

Payment : Payment refers to after the order is generated to the end of the transaction

Liquidation : Liquidation : Payment refers to after the order is generated to the transaction is completed before

Liquidation : Liquidation contains two main parts: payment to the seller and the seller to reconcile

The buyer to pay the amount of goods all or part of the payment to the seller is the process of liquidation. Depending on the situation, the seller may be the e-commerce platform itself, or it may just be some entity that has set up store on the platform.

Because the number of transactions is relatively large, the process of providing sellers with self-help verification of whether the actual payment is leveled is the reconciliation

Settlement frequency: general settlement to the seller is paid by pen, and the buyer to confirm the completion of the transaction, then it will be settled to the seller;

Fifth: Payment and Clearing

Clearing: the platform-type e-commerce money exists in the third-party custodian account, is regulated by the state, and self-employed e-commerce money is directly in their own bank accounts, completely at their disposal; Rhino Xiaogao belongs to the platform type of e-commerce, the following description for the platform type of e-commerce:

Why is it that the third-party payment institutions must have a payment license, a common understanding: the third-party payment institutions have the function of clearing, the money is to arrive at the third-party payment institutions, each open Third-party payment merchants have a virtual account in this, the user in the merchant that payment (eq: 100 yuan) and pay successfully, this virtual account will increase 100 yuan in real time, but in fact this account is not accounted for, to T +1 (example) can be real settlement of the account; In addition, if other agreements are involved, the third-party payment institutions can be in accordance with the rules of the pre-agreed allocation of this money to their respective accounts

VI. The user pays the real flow of funds

The user ----T+1 credited ---->third-party payment (the actual money is first to the central bank reserve) - T+1 settlement - >merchant account

Commonly Understanding: the user to pay the money first to the central bank provisions, the central bank t + 1 settlement to the third party, the third party real-time to the merchant account;