Mobile phone payment is gradually approaching, and the market growth potential is huge.
In 2009, the number of users in China's mobile payment market reached 39.649 million, an increase of 45.31% compared with 27.258 million in 2008. It is expected that the number of users in China's mobile payment market will reach 55,877,000 in 2010. From the perspective of the scale of mobile payment transactions, in 2009, the transaction volume of China's mobile payment market reached 50.72 billion yuan, an increase of 41.68% compared with 2008. It is expected that the transaction scale of China's mobile payment market will reach 71.06 billion yuan in 2010. . From the perspective of two key data, China Mobile's payment market has great growth potential.
Dialysis of the four characteristics of China's mobile payment market in 2010
(1) The state further strengthens the supervision of mobile payment policies, and the third-party payment enterprises face greater policy risks.
For a long time, mobile payment has been a financial service in principle. China's regulatory system explicitly prohibits non-bank institutions from issuing bank cards on an open payment platform. If a contactless mobile payment card needs to enter an open field, it must be a bank card or The bank issued a joint card. However, mobile payment is, to some extent, a form of electronic payment, and government policy is an initial stage of regulation, but it is constantly improving. In 2009, national regulators increased their exposure to electronic payment licenses, but the acquisition of licenses required multiple levels of approval, and third-party payment companies faced huge policy uncertainty risks. In mid-2010, the People's Bank of China promulgated the Measures for the Administration of Payment Services for Non-Financial Institutions, stating that the People's Bank of China does not impose quantitative restrictions on the Payment Business License and encourages all qualified non-financial institutions to compete on an equal footing in the payment service market. Promote optimal allocation of payment service market resources. However, in general, in the face of this emerging market, policy formulation is far behind the development of the market, and the policy risks faced by independent third-party payment companies should not be underestimated.
(2) Telecom operators and banking systems are involved in the market, and third-party payment companies face greater competitive pressures.
The mobile payment industry chain participants mainly include financial institutions, mobile operators, mobile payment platforms, third-party payment companies, equipment and solution providers. In 2009, with the increasing demand for mobile payment by users, telecom operators who have mastered mobile payment channels and various banking companies that have mastered financial payment channels have also accessed the mobile payment market, relying on human resources, qualifications, financial resources, With years of accumulation in user bases and other aspects, the competitive pressure faced by third-party payment companies is increasing. Although mobile payment should be a joint promotion of the entire industry chain, more powerful participants are trying to navigate the entire industry chain. For example, in 2009, China Mobile participated in the Pudong Development Bank to open up the financial sector; and UnionPay used the huge and portable payment channels that have been accumulated to increase competition with telecom operators through the formulation of its own standards. In the competition between the two parties, the third-party payment companies are in a state of "slit" to survive, and the market is not comfortable.
(3) The direct cooperation mechanism between mainstream operators and financial institutions has not yet been established, and the industry has not yet unified standards.
The development of mobile payment applications requires the sincere cooperation between the participants in the industry chain, especially for the complementary use of resources between telecom operators and financial institutions. However, at present, telecom operators and financial institutions are maximizing their own interests. From the perspective of consideration, in order to achieve the purpose of controlling the industrial chain, the capital advantage is used for two-way penetration, and their respective industry standards have been established. The standardization of this kind of industry, on the one hand, is not conducive to the use of users; on the other hand, it is not conducive to the scale of the industry.
(4) The security experience of mobile payment needs to be improved, and users are more worried about security issues.
From the user level, mobile payment is one of the applications that require extremely high security and reliability. The user's usage habits and confidence in the use of such services have not yet been established. On the one hand, industry participants are required to improve payment. Safety technology, establish industry norms, on the other hand, it is necessary to strengthen the long-term education for users. In addition, it is necessary to solve the problem of industry integrity and cultivate users' sense of identity and credibility, so as to effectively guide users' consumption habits.
Mobile payment market--VC/PE
From the perspective of mobile phone payment market investment, in mid-December 2001-2010, China’s mobile payment market has disclosed a total of 8 investment cases, all of which disclose the investment amount, with a total investment of 89.58 million US dollars and an average investment of 11.2 million. Dollar. Among them, the number of Series A investment cases is 4, occupying a major share, such as Yirui Innovation, Shanghai Lianfa Electronic Technology Co., Ltd., etc. respectively obtained Gobi, Oriental Fuhai separate investment; Lianlian Technology has obtained three rounds of investment, a total of 73 million US dollars investment .
At present, China's mobile payment main operators have limited investment opportunities, and VC/PE can focus on mobile payment industry chain equipment/solution providers. From the perspective of China's mobile payment industry chain, China Mobile payment industry chain participants, especially mobile payment operators, are more attractive to the capital market, but at present, telecom operators, banking companies and third-party payment companies are China. The main players in the mobile payment market, and only third-party payment companies have certain investment opportunities, especially third-party payment companies with technical strength and platform operation capabilities.
However, on the one hand, due to the small number of companies with third-party payment qualification certification, and the development potential has been carried out multiple rounds of financing; on the other hand, due to the policy risks faced by independent third-party payment companies, especially After the world financial crisis, the government's control over such markets will be further enhanced. To this end, it is recommended that the capital side can focus on the mobile payment equipment / solution provider links, such as the odd data, such companies have strong forward expansion capabilities, may become the platform operators of mobile payments.
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