As the number of smartphone 3G users grows faster, more and more people are aware of the prospects of the Internet non-financial payment industry.

A large industry that is almost out of the supervision of the banking system, has sufficient account funds and can perfectly play the advantages of capital operation, even if it cannot achieve payment guarantee and micro-payment scale.

If it is smaller, with a few million users and each person depositing tens or hundreds of dollars, the scale will be hundreds of millions. Moreover, the channel advantages of micropayment platforms have gradually become known to the public.

Just by directing traffic to Qingyun Group's products, it can earn hundreds of millions of commissions every month. Weifuzhi cooperates with Qingyun Great Eastern Insurance and uses the latter's resources to promote its platform.

Based on the insurance industry's lowest commission of 20-35% allocated to sales channels, the future profitability of non-financial payment platforms will far exceed that of all current industries based on this item alone.

Some people are tempted. Their first target is payment insurance, and secondly micropayment. They want to squeeze in and take a spot, but no matter what conditions they offer.

Jack Ma, Li Zehua, and the investors behind Ali Qingyun would not agree.

These people couldn't do anything to the two groups, let alone Tengda, so they had to settle for the next best thing and seek third-party cooperation in the Internet industry, planning to wait for the industry to explode.

Then they take advantage of the situation to fish in troubled waters, make a big grab and run away.

(The Internet finance lending business and Yu'ebao's revenue-generating model have not yet been launched).

Liu Qiangdong was naturally lobbied by others, and he was also jealous. After consulting on related issues, he tentatively asked, "If JD.com wants to build its own payment platform, will you support it?"

"If you plan to make a quick buck and leave, or become someone else's white glove, and you bear the blame in the future while others enjoy the benefits, that's not a bad idea."

Li Zehua gave him a serious analysis: "With JD's current market share, it can't support a big plate at all. No matter how much money you spend, you can only have 3 to 5 million users in the next two years.

Please note that this refers to registered users rather than active users. When Payment Insurance started, it was purely used as a payment credit guarantee for Ali's cross-border business and Taotao, and only online shoppers would use it.

To this day, the customer base of Payment Insurance is still mainly online shopping customers. What does this mean? Consumers who use non-financial payment only use it because they have real needs.

The same is true for micropayments. QingCloud has gained competitive advantages in many industries and seems to have a larger number of active users, but it has not deviated from this business logic.

Without the strong backing of Ant Financial and Minsheng Group, it is unlikely that users will use micropayment balances to replace online banking balances and make it the mainstream financial tool for daily transfers.

As for JD.com, I'm not saying that it won't be successful in at least five years because you don't have a large enough customer base. It's very expensive, just a secure payment system and maintenance.

Including the technical team, the annual expenditure is hundreds of millions. Can JD.com afford it?

Even if you successfully raise funds this time and get more than a billion US dollars, which is only 10 billion RMB, will you stop doing your main business? Smart warehouses and smart logistics, offline experience stores.

You're not going to do it anymore? Ten billion, invested in the Internet finance industry, I'm not laughing at your pettiness, it's not enough, not enough at all."

He also revealed some key information about Weifuzhi to Dong Ge. Apart from anything else, the payment system patents held by Weifuzhi alone would be enough for JD.com's technical team to digest for a long time.

There are also the personal connections needed to develop non-financial payments and to get approval from the China Banking Regulatory Commission, each of which is beyond JD.com's current capacity to handle.

The most important thing is that in addition to developing non-financial Internet businesses, its own technical reserves and security maintenance, the cost of offline promotion is the biggest expense, and then utilizing the number of users developed offline.

Feeding back to the online business, consumers are attracted from physical stores to online step by step. The cost of activity diversion in this process is the biggest expense. Qingyun is just one person who serves for this plan.

It's more than 10. Although it is synchronized with the promotion of WeChat technology, hundreds of millions of funds are invested every month, but if done alone, it will take almost the same amount of funds to achieve similar results.

After consulting Chen Shengqiang, Liu Qiangdong knew that there was nothing wrong with what he said, so he asked, "Why not rely on micropayment for the time being, go through agent payment, and be affiliated with a third party, and then operate independently when the right opportunity comes?"

Li Zehua smiled and said, "First of all, JD.com is JD.com and Qingyun is Qingyun. No matter how good our relationship is, we cannot go above the company level. This matter will not pass the board of directors.

Secondly, JD.com missed the best opportunity. If it had been before the license review, it could have used its relationship with the China Banking Regulatory Commission to secretly obtain the license before it was brought under supervision.

It is now extremely difficult for JD.com to apply for entry qualifications. Even if all the preparatory work goes smoothly, it will take at least one or two years. Finding a mature company to cooperate with is a shortcut.

Behind these people, everyone has connections. If you cooperate with them, it would be like courting death. Whether the result is good enough for you is a question of whether it belongs to you or not.

All in all, it would be more cost-effective to continue cooperating with Weipay. At least you will own a part of Weipay's shares in disguise, enjoy the dividends of development, and don't have to worry about being backstabbed.

Finally, you should know that Qingyun is currently promoting QR code payment and the sharing economy offline. For this purpose, the group has allocated 20 billion yuan in special funds to support the development of offline payment.

If you don’t believe me, you can go downstairs and take a look. The restaurants and supermarkets in front of your company have all joined the QR code payment system. Even Alipay has been left behind. What can you use to catch up? "

At this point, Li Zehua shook his head and advised: "You may not know that we are currently actively connecting with major cities across the country in terms of transportation, gas, water supply, electricity.

As well as the phone recharge channels of the three major operators, the company is discussing all scenarios where online payment may be used, including cities where it has a good cooperative foundation with Qingyun.

They have already agreed to gradually open up related businesses and cooperate with Qingyun. Coupled with the increase in offline payment outlets, let alone five years, in just one or two years, a winner-takes-all situation will be formed.

Even the payment insurance may not be able to maintain its current scale, so why are you confident that you can develop independently by then? Investing too much resources will affect the development of your main business and the relationship between the two companies.

If the investment is insufficient, all the money will be wasted!
I don’t know who promised you what behind the scenes, but I can tell you clearly and responsibly that JD.com is a strategic partner of Qingyun, but it does not mean that it can impact the Qingyun system in core areas.

Once the fight starts, even if I hold back, the group will never agree to show mercy.

What will you do then, and what will JD.com do? "

Liu Qiangdong was really convinced. This guy was very organized in his way of doing things and didn't give people any room for choice at all!

But he didn't give up and still wanted to struggle, "Who knows, with JD's current development, its revenue is growing two or three times a year, maybe it will break through the trillion scale in less than five or six years.

You have a board of directors and investors behind you, and I have them behind me too. I cannot refuse their reasonable demands."

"Of course. When have you ever seen me use my status as a major shareholder to exert pressure? But I advise you not to hold out too much hope, lest you be afraid to step down in the future."

Li Zehua smiled confidently, "In short, you can do what you want. Just make sure that Weifuli is still JD's payment channel. Time will prove everything."

If JD.com doesn't do it, other companies will. Anyway, he has made up his mind to cut off one of his own arms first and suppress the scale of lending business of Internet non-financial businesses in China, at least to reduce the interest rates.

The installment payment launched by Weifuzhi and the online merchant loan launched in cooperation with Ant Financial Services Group's Ant Financial Services Group have a uniform interest rate of no more than twice that of the bank's interest rate during the same period. The interest rate exceeding this standard is being pushed to the China Banking Regulatory Commission for legislation.

Double bank interest is based on the fact that non-financial business is usually carried out in the form of credit loans, and it is impossible to control risks without physical collateral.

Also, because state-owned banks need to revitalize small and medium-sized businesses and boost the vitality of the private economy, they need to supplement it with Internet non-financial services.

When asking someone to do something for you, of course you should offer incentives, and twice the price is just right.

Any amount exceeding this amount is obviously taking advantage of the opportunity to make a profit, which will prompt companies engaged in non-financial businesses to open up their restrictions. Anyone who is a normal person can get the quota.

The serious consequences caused by this are similar to those of the subprime mortgage crisis. If there are no restrictions, all parties involved will inevitably expand their scale without restriction and pursue interests without bottom line under the drive of greed.

Qingyun’s proposal is very simple: the more responsibilities you assume, the more rights you will enjoy. At the very least, companies that participate in operating non-financial Internet businesses must refer to the bank reserve model.

Sufficient funds must be provided for operations in this field. For example, the scale of loans must not exceed a certain number of times the principal, and the source of the principal must be self-owned funds, rather than through loans and high-interest financial management.

The higher-ups are already having a headache because the Internet non-financial lending business, led by Qingyun Micropayment and Ali Pay Bao Huabei, is developing too fast and showing signs of being out of control.

The advance borrowing consumption model of spending in the current month and paying back the next month without interest, which uses pure online payment without the use of physical cards, has had a huge impact on banks' credit card business.

Previously, when issuing licenses, state-owned banks had negotiated with all companies through the China Banking Regulatory Commission, requiring restrictions on the development of this business. However, at that time, Ali, Qingyun and other companies.

By utilizing its own resources and actively lobbying for interference, it forced the CBRC to temporarily shelve the dispute in order to avoid being branded as a company that interfered with normal market operations.

However, Qingyun Group, which now has a market share and the largest actual market share (active user scale), has taken the initiative to propose that the CBRC has a reasonable excuse to intervene, and of course it must take care of the banks. 10% of pure self-owned funds must not exceed twice the highest commercial loan interest rate of the bank during the same period (roughly no more than 15%), and loans must be issued to specific groups of people.

With the introduction of such a series of legislative policies, any business that wants to raise funds from the general public by offering interest rates of more than 10% will no longer have the foundation for survival.

Because you can only make 15% return from lending, and you also have to bear the risk of bad debts. If you exceed the limit even slightly, you will face severe legal punishment, so it is not cost-effective.

Li Zehua is doing a good thing, preventing foreign capital from colluding with both domestic and foreign parties to set up countless pig-killing schemes in 13 and 14, reaping the savings of residents and closing the door to borrowing and consumption ahead of schedule.

Even if you cut leeks, you can’t pull them out by the roots. This generation has harvested the past thirty years, and is now overdrawing the social labor surplus of the next fifty or a hundred years. What will we do in the future?

"I've never seen anyone like you who still complains about having too much money. If students can't get loans, how can we stimulate consumption?

It is reasonable that people over 60 years old cannot apply.”

After listening to what he had been busy with during his time at Yanjing, Liu Qiangdong was quite puzzled. "If you limit yourself, you will lose tens of millions of the best college students. You will have nowhere to cry in the future."

"Who said it's all lost? There is still a payment for living expenses. As long as the student status is verified, there is a maximum of 500 yuan for one month, and the interest is only 6 yuan. The total for the whole year is no more than 75 yuan.

It’s right within the 15% red line.”

Li Zehua is not worried at all about the future profit direction of micropayments, advertising traffic, commissions from sales of financial management insurance, payment sharing, and deposited funds attracted by platform financial management.

He even handed over the short-term profits from the normal operating account balance directly to the bank, and simply kept the balance funds in the platform's financial management for investment appreciation.

To put it bluntly, he just doesn't want to open this Pandora's box in China. With his strong promotion, Fenfu and Huabei Payment Insurance were connected to the central bank's credit reporting system as soon as possible.

However, the specific display content is controlled by the responsible company itself. Qingyun Micro Payment will appear in the form of one payment per year and will not be displayed multiple times separately within this period.

As for Huabei?

Jack Ma is busy cursing Li Zehua's ancestors. In his original words, this idiot has money but doesn't want to make it himself, and instead drags down his peers. He deserves to die!

Once the mutual destruction strategy is implemented, Jack Ma will never be able to turn 30 billion into billion in his lifetime. He will have to keep the profits for himself and share the risk in society. If something goes wrong, he can just walk away. How can such a good thing happen?

The 10% reserve of own funds will block all his room for tricks.

“Don’t hesitate. If you are really rich, why don’t you come with me to Southeast Asia and visit the Third World in the future? You have the support of the University of Tokyo and many foreign manufacturing companies.

As long as you don't touch Amazon's core business scope, you will be a large online channel operator wherever you go. By taking advantage of this, overseas micropayments can give you a share of the shares.

As for you, you can also send people to participate in the operation through equity participation to learn how the Internet non-financial business operates. Looking back in a few years, if you still want to continue doing it, I will not stop you. "

He has always been optimistic about the JD.com model. He believes that achieving a sales scale of two or three trillion yuan in the future will not be a problem. Even if the gross profit is only 5-6%, it will be a scale of hundreds of billions.

If JD.com can be brought out before the mobile Internet wave arrives, it may be able to compete with Amazon in the future.

The Pinxixi model focuses on tens of millions of merchants, among which there are inevitably good and bad. In addition, since it is cross-border trade, it is more or less subject to the influence of the country where it is located.

However, JD.com's sales channels, through its self-operated model, can drive many domestic manufacturing companies to go abroad, thereby providing new sales channels for JD.com's industrial development in disguise.

Besides, he himself is a major shareholder of JD.com, so the benefits should not be wasted on outsiders.

Liu Qiangdong thought about it seriously and did not give an answer on the spot.

"By the way, the one who followed you in the Magic City last time was called Zheng Jia, right? The one who wore small glasses and was very gentle."

Li Zehua did not force it, and changed the subject: "It's your sister-in-law, right? Why don't you bring her out to meet you?"

It is probably difficult for Liu Qiangdong to drink milk tea again in his life. Everyone knows each other and understands each other's hobbies. He insists that bigness is justice.

Historically, there was no one to support him. Tomorrow Capital did not understand how to build a large B2C company at the beginning, but gradually figured out the tricks, which seemed like it wanted to take over someone else's nest.

Dong Ge was isolated and helpless and was forced to make compromises. He could not even make free decisions about his own family and marriage. This eventually led to the Mingzhou incident, which dealt a heavy blow to his personal prestige.

It had to make further compromises in key areas and gradually lost the initiative.

But the new time and space is completely different. The intervention of the Qingyun system will also bring huge capital and resources into JD.com. At least on this issue, Brother Dong can arrange it as he pleases.

It is even less likely that a serious situation would occur where, on the eve of the listing, the company would be blocked in the conference room by Tenda, with the two sides confronting each other for several hours.

However, Tenda did not have the last laugh. It seemed that they used their monopoly position to force JD.com to compromise last second before its listing. JD.com was forced to merge with Tenda's e-commerce department and obtain a certain number of shares.

But after Dong Ge had grown stronger, he took advantage of the favorable opportunity of restricting the disorderly expansion of big capital and pushed Tengda to the forefront, forcing the latter to use all of JD.com shares for dividends.

It also forced Tengda to withdraw from investments in multiple fields. The grievances and grudges between them were destined from the day they acquired the shares in an unreasonable manner.

Dong Ge didn't expect that he could find out about such private matters. He shook his head like a rattle, "What Zheng Jia? What sister-in-law? That's not true. You don't believe everything you hear. It's all groundless."

"Really? Then why did I hear from the people at the designated hotel that you and she were the only ones who came at the same time...

Ugh~ Let go, let me finish. "

"Just shut up. No one will think you're dumb if you don't speak."

Brother Dong wanted to stab him directly. How could such a thing be said in public?

Didn’t you see that Chen Shengqiang’s ears were almost standing up? Talk more about the boss’s gossip, tension, and excitement.

Li Zehua finally broke free and said in a sly voice, "If you don't want to tell me, then don't tell me. I'll come to visit you tonight anyway."

"Sorry, I have to go out for an inspection soon. Let's get together again next time we have the chance."

Brother Dong is not someone who can be easily threatened, so he picked up his things and left.

Li Zehua chuckled, "Are you not going to talk about financing? This is a matter worth more than one billion US dollars. How can we discuss it when you, the boss, are not here?
Do you still want the loan from Yanjing Bank?

Mr. Chen, can you tell me how much money is currently in the group's account and how long it can last?"

Liu Qiangdong was stunned. "Be a decent person, why are you threatening me with this?"

"We are half-brothers. If I don't go to your house to meet my sister-in-law when I come to Yanjing, wouldn't it be impolite of me?"

Li Zehua held up two fingers and said, "If you don't get drunk tonight, I will ask ICBC to approve another 1 billion for you. As long as the company has sufficient funds on its books, you will have the confidence to negotiate with venture capital.

Isn't it? "

Dong Ge came back and sat down in an instant, "You said this, I didn't force you. Yanjing Bank has 10 billion, ICBC has 10 billion, what can you say if it hasn't arrived yet."

"I'll guarantee it, okay?"

Li Zehua said unhappily that even if he had not gone home to see his sister-in-law, he would have to do everything he could to increase the valuation of JD.com, because he was still the largest shareholder.

Providing a joint and several guarantee for one's own enterprise makes it easier to cheat. Bah. It's only natural to seek venture capital cooperation to ask for more money!

Liu Qiangdong was very satisfied with his attitude. "Since you are so sincere, let your sister-in-law show off her cooking skills tonight and cook some signature hometown dishes for you." (End of this chapter)