How did Alipay initially convince major banks to cooperate?

The basis of cooperation is interest, when you have enough strength and can create high enough profits, naturally someone looking for you to share a drink, Alipay's cooperation with banks is the best example.

Ma Yun and the bank's cooperation is not a smooth road, and Ma Yun and the bank cooperation is not actually derived from the Alipay business.

The first encounter between the two sides goes back to before 2014, when Jack Ma wanted the bank to act as Taobao's third-party guaranteed transactions, rather than seeking opportunities for Alipay, which means that Alipay is a later thing, but Jack Ma was the same as the creation of Alibaba to seek investment, ate all the closed door, when no bank is willing to do the guarantor, and had no choice but to create Alipay, which is the only way for the bank to be a guarantor. The first thing you need to do is to get your hands on a new computer and get it to work.

The creation of Alipay was purely to enable Ali's e-commerce business to form a closed-loop system of online shopping, transaction settlement, data tracking, and other functions.

Then why did banks work with Alipay later? Is it recognition or fear? Of course because of the sense of crisis!

In the Alipay on-line put into use to now turn to the financial industry, from the initial to meet Ali's e-commerce needs to shake hands with the bank, this is because of that year Alipay real-name authentication number of more than 300 million people, and Ma Yun to follow the trend of launching the Balance Bao plate. strong> board, and with more than 50% market share in Alipay, this really threatens the banks.

Because the balance of the treasure to realize anytime consumer payments and transfer in and out, without any commission, and the balance of the treasure's income is far greater than the bank's current income, in the year is up to 10 times more.

So, instead of saying that the bank to carry out the internal reform, it is better to say that Ma Yun to change the bank, after 2014, the bank and ants gold service formally reached a strategic partnership, Alipay mainly to provide payment and wealth management business, can be said to be at that time you love to ignore, and now you can't afford to climb up!

Yu talk about feelings

So you have to ask Alipay initially how to persuade the major banks to cooperate, of course, with the strength of the persuasion, the rapid growth of ants gold service, not only from the needs of the community, the more important reason is that the traditional financial to provide the Internet-style thinking and solutions, as a program developer and layout, ants gold service can naturally take the biggest piece of cake. And this is exactly what the bank is looking at.

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The reason is very simple: interest!

Many people keep saying that banks initially refused to cooperate with Alipay and were not willing to work together to build Taobao's secured transactions, but when Alipay's system of this credit transaction is established, it already has the strength to talk to banks about cooperation. The reason for this is that the volume of Taobao system daily transaction amount is no longer a small amount, which is already profitable for the bank.

The foundation for Alipay and banks to work together is already in place!

Banks can profit from Alipay: Everyone should know that Alipay cash withdrawals require a fee, then know why the fee? Because, every time a user uses Alipay for a transaction, such as payment, recharge, cash withdrawal, etc., the bank will charge a corresponding handling fee. The more frequently the user uses, the more the bank can get the fee naturally, which is also the reason why the banks are now encouraging everyone to bind Alipay, WeChat, etc. for mobile payment.

A payment channel that makes it easy for banks to make money is one that banks will not let go of!

Alipay was first launched in 2003, Alipay operated independently in 2004, and ICBC formally partnered with Alipay in the first quarter of 2005 to provide related cooperative services. What do you think ICBC values in this cooperation? The natural figure of Alipay can bring stable revenue.

Alipay and the bank to cooperate with the entry point: Alipay in the beginning to cooperate with the bank and a very important point of operation, that is, it is the cooperation of the entry point is not the head office of the bank, but directly to find the local branch of the major banks. For the branch, Taobao this volume of transactions and can bring the revenue is still very lucrative, coupled with the branches themselves are performance requirements, to Alipay so a merchant, not incense?

When the first ICBC and Alipay cooperation, other banks are obviously not willing to let the ICBC a monopoly, naturally will also cooperate with Alipay. So there was also a flurry of branches around the world agreeing to work with Alipay.

However, this model subsequently experienced a small storm, that is, ICBC later adjusted the policy to allow only one branch to access the payment institutions, and the central bank ultimately also below the requirements of other banks to follow along with the operation. For this reason, ICBC and Alipay both fought a war of words.

But this is no longer important to Alipay, whose momentum has been set and whose trajectory cannot be changed by this adjustment.

Lscssh technology official point of view: Comprehensively speaking, Alipay can handle the cooperation with the bank to play is a breakthrough, the entire banking system is a whole, but in fact, everyone is a scattered sand, Alipay first chose the local branch of the breakthroughs, and then pick the focus of large state-owned banks to start, and then step by step to break the various banks. Banks. And banks around the world are willing to cooperate, but also because they can get a lot of money from it.

So, in a word, to explain why Alipay can work with banks, it is profitable for both sides, and both can benefit from it. Remember one thing, businesses live to make money, and as long as there is a profit to be made they are friends.

Hello, I'm glad to answer your question

How does Alipay convince major banks to cooperate? In fact, to put it bluntly, it is the interests of interoperability.

The emergence of Alipay is the leader in China's mobile payment field. Now we only need a cell phone to solve many problems in life. Jack Ma's words, the bank does not change, we change the bank. He changed the way banks pay. Let the bank launch online banking to facilitate more users. With the continuous growth of Alipay, more and more users put their funds in Alipay account, and then Alipay even launched the balance treasure and a variety of funds, which put pressure on the bank.

Fourteen years ago, Alibaba wanted banks to become third-party guarantors for Taobao, and none were willing to do so. In order to meet the independent and complete operation of Alibaba's e-commerce business, Alibaba then launched the Alipay system, which opened the way for mobile payments.

In fact, in the early days, banks suppressed every aspect of Alipay. But in the end, banks realized that instead of suppressing, they should cooperate. Why would arrogant banks cooperate with Alipay? Because banks have their own little schemes.

With the rise of mobile payments and e-commerce, our technology companies have a wealth of data on consumer behavior that can help assess the risk of personal loans. Some companies are using this information to expand their credit business. However, collaboration between tech companies and banks is also on the rise as the government tightens regulation of fintech companies and banks look to reach more retail customers.

Earlier, for example, Wang Hongzhang, chairman of the Construction Bank, and Wang Zuji, president, announced, along with Jack Ma***, that the China Construction Bank had entered into a strategic partnership with Alibaba and Ant Gold Service!

1, stationed in Alipay: Alipay will be able to buy CCB financial products directly;

2, open the wealth number: CCB will provide personalized, customized products and services through the technological capabilities of the ants gold service;

3, online card opening: Jack Ma will assist CCB to promote online credit card opening business;

4, Mutual recognition and mutual scanning: That is, in the future, the two-dimensional code of CCB and Alipay can be scanned by each other;

5, connecting the credit: This is a heavyweight bomb, and Jack Ma dreamed of the "Credit equals wealth", accelerating the arrival!

As we all know that Alipay's interest rate is higher than the bank's, many people will choose to deposit their money in the balance, so that they can freely pay and collect interest, and the bank can not have such a convenient way. From a business point of view, the cooperation between banks and Alipay is actually for the sake of interest. Previously, everyone put their money in Alipay's balance, and then the bank found that it did not work, so it completed the existing cooperation with Alipay.

The root of the cooperation is the interests, I feel that Alipay in the beginning was every transfer, transaction, need to give the bank a certain fee

From the current God's perspective look, Alipay did move the bank's cheese, the two seem to have a certain competitive relationship. However, from the history of Alipay's development, the early stage of Alipay did not have a competitive relationship with the banks, but rather, the two have a very natural basis for cooperation. The initial reason for the birth of Alipay was to overcome the problem of mutual trust between buyers and sellers, with Alipay as an intermediary guarantee, it can improve the security of online shopping transactions, avoiding the credit risk that buyers and sellers may incur, and greatly facilitating the development of online shopping. The first is to make sure that you have a good understanding of the marketplace and how it works. On this basis, Alipay was a good partner for the bank: it is clear that the cooperation between the bank and Alipay was a mutually beneficial **** win, the two cooperated to get what they needed, but also led to the development of the online shopping business. Therefore, I think Alipay at that time with the bank to cooperate in the negotiation process will not be very difficult.