The "feud" between Alipay and traditional banks

The difference between Alipay and traditional banks

Ten years ago, I bought things in the supermarket. I used paper money. When you run out, you should go to the bank to get it or use the pos machine. Ten years later, when I was shopping in the supermarket, I took out my mobile phone and scanned it. You don't even have to take out your mobile phone, just sweep your face and pay.

The credit card payment industry represented by POS card swiping has been popular abroad for many years. However, in the payment market in China, credit card payment was defeated by Alipay and WeChat before it became popular. In the past decade, people's payment habits have changed a lot, which is the impact of the emergence of mobile payment such as Alipay. What's the difference between Alipay and traditional banks?

In operation, you need change when you pay with paper money. Sometimes it is more troublesome to bring less money, and there are great restrictions on using pos machines. You should not only have a pos machine, but also make sure it has a network. Besides, there is a handling fee for pos machines. Some people will say that banks also have UnionPay China UnionPay Express, but UnionPay China UnionPay Express is really hard to use. The system often crashes, and if you want to get a discount, it will be very complicated and troublesome. In contrast, Alipay is very convenient, fast and easy to use. Under the guidance of the elderly and children, you can learn to use it quickly without changing it.

Alipay has an application ecosystem. In Alipay, you can order takeout, find a hotel, take a taxi, recharge your mobile phone and other services. Traditional payment is much weaker in this respect. Alipay also extended the flower buds to be used as counter credit cards and balance wealth management products of Bora pk Bank. However, large transactions are still conducted through banks.

Then some people will say, Alipay is so powerful, will it replace banks? The answer is no, of course. Alipay is only a small cash deposit and withdrawal and transfer business, and it has never been the main source of profits for banks, or even an important source of profits. On the contrary, petty cash deposits and withdrawals and transfers are negative assets for banks and a burden to get rid of. The bank's core profitable business is lending, large-scale lending.

Nowadays, convenient and fast "fragmented consumption" has occupied a place in people's daily consumption. Many businesses seize the opportunity to let people have something to do while killing "fragmented time". For example, doll machines, mini KTV, VR experience games and self-help massage chairs have sprung up in shopping malls and cinemas. In the era of fragmented content consumption, short videos have developed rapidly and become the mainstream direction of industry exploration. The development of mobile payment has promoted fragmented consumption, the consumption process has become simpler, and the content of fragmented entertainment has become richer and richer, without spending a lot of money at a time. Traditional banks can't pay quickly and arrive quickly.

The emergence of Alipay has changed many of our daily habits and also changed the service of banks. With the development of the times, payment methods have become more and more convenient, which represents the progress and demand of the times.