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01 Taobao beats eBay, how Hangzhou Ma's Alipay is rising
In 1999, at the age of 28, Musk sold his first company, Zip2, to Compaq, making $22 million, then rewarded himself with a McLaren, then turned around and started his second venture.
This time he fancy online payments.
A month later, the online payment platform X.com established, which later merged with people to form PayPal. In 2002 PayPal it was acquired by eBay for $1.5 billion and became eBay's main payment method.
In the same year that the acquisition PayPal, eBay entered the Chinese market with a stake in eBay, which soon occupied nearly 80% of the domestic C2C market.
At this time, it's time for our Hangzhou horse to appear.
In 2003, Alibaba's C2C platform Taobao was launched, and six months later launched the third-party payment tool "Alipay". At that time, Alipay, which was only 3 people, was still located in Taobao's finance department, relying on manual and Excel bookkeeping.
In 2008, eBay announced its withdrawal from the Chinese market, and Alipay became the largest payment platform in China with the rapid growth of Taobao.
So, is Alipay imitating eBay?
It can only be said that whether it was the establishment of Taobao or the launch of Alipay, Hangzhou Ma must have learned from eBay's experience at that time. However, unlike the mature credit card system that PayPal relied on foreign countries at that time, Alipay was a "guarantee + transaction" model, in which Taobao played the role of third-party guarantee and arbitration to keep the payment, and the buyer received and confirmed the goods and then transferred it to the seller, which solved the problem of distrust of consumers' online transactions, which was very suitable for the status quo of the initial stage of domestic e-commerce at that time, and promoted the rapid development of Taobao.
In the second year of eBay's withdrawal from the Chinese market, the number of Alipay users exceeded 200 million, surpassing PayPal with 180 million to become the world's largest electronic payment platform.
Hangzhou Ma even uttered the bold rhetoric that "you can't find an opponent with a telescope".
At this time, it's time for our pony brother to appear.
02 Didi and Kuaidi's subsidy war, Tencent and Alibaba's payment competition
In September 2005, Tencent launched its own C2C platform Paipai and its own payment platform Tenpay. However, because Tencent e-commerce has been tepid, relying on Tenpay in the e-commerce transaction scene, it has been tepid, which is one of the reasons why Xiaoma Ge has been unwilling to give up e-commerce.
After transferring the e-commerce business to Dongzi, Tenpay was reduced to an embarrassing role of recharging Q coins and renewing red, yellow, blue and green diamonds. Compared with the boss Alipay, there is almost no sense of existence.
Before 2013, Alipay's mobile payment market share was as high as 80%, and although Tenpay ranked second, its share was only about 10%.
In June 2013, Alipay's Yuebao quickly became popular, adding more than 100 million new users in less than half a year.
But just two months later, Pony struck.
Determined to abandon e-commerce, Tencent finally focused on its social products, and in August 2013, WeChat version 5.0 was launched, adding payment functions for the first time.
Although I can't fight you in e-commerce, I have social ah! The popularity of WeChat gave Xiao Ma Ge the confidence to grab the payment entrance with Hangzhou horses in other scenes, and soon he found his target.
In December 2013, Alipay announced its cooperation with Kuaidi to promote mobile payment, and Tencent immediately followed suit, joining hands with Kuaidi's competitor Didi to announce that WeChat Pay was connected to Didi.
With the fierce competition, the two camps began a subsidy war, hoping to cultivate users' mobile payment habits by burning money subsidies.
On the surface, the ride-hailing car is breaking the wrist, but in fact, the two financial masters behind it are fighting for internal strength.
It seems that it is grabbing the travel market, but in fact it is the competition for payment entrance.
It burned until the two bigwigs couldn't stand it, and in 2015, the merger of Didi and Kuaidi, Tencent and Ali divided up this payment scene.
But the battle between Tencent and Ali on the payment entrance is not over, but has just begun.
03 Tencent's sword went sideways, and WeChat red envelopes launched a payment sneak attack
Whether it is Didi Kuaidi's subsidy war, or the follow-up Mobike and OFO, Meituan and Ele.me, Super Species and Hema Xiansheng... It's all around the payment portal, a strategic location.
If these PKs are a head-on confrontation between Ali and Tencent Pay. Then, the battle of red envelopes, in the words of Hangzhou Ma, is a sneak attack battle of WeChat's "surprise attack on Pearl Harbor".
Before the Spring Festival in 2014, "red envelopes" appeared in WeChat for the first time, and this innovation of simulating Chinese customs cleverly took advantage of WeChat's advantages in the social field and went viral as soon as it was launched.
In just one or two days Chinese New Year's Eve the first day, more than 5 million people participated, and more than 16 million red envelopes were sent and received.
In 2015, Tencent cooperated with CCTV Spring Festival Gala to innovate the "shake" red envelope game, which once again became a hot spot during the Spring Festival, with more than 20 million participating users and more than 1 billion red envelopes sent and received.
Catalyzed by red envelopes, the number of WeChat cards has increased exponentially, and the exaggerated description is: WeChat red envelopes completed what Alipay took 10 years to complete overnight.
The market share of WeChat Pay has soared from about 10% to more than 30%, and from Alibaba's e-commerce-led mobile payment territory, it has torn a social opening.
Now, it's time for Hangzhou Ma to be anxious.
In 2016, Ali invested 269 million to grab the exclusive interactive partner of the Spring Festival Gala and launched the Five Blessings activity.
Although it has also been popular for a while, due to the lack of social attributes, it has never been able to form a drastic effect similar to red envelopes. Therefore, our original hard work to grab red envelopes and seek professional happiness is actually the payment battle between Tencent and Alibaba.
At present, WeChat and Alipay account for 90% of the market share in the field of mobile payment, while new players are also entering the market.
A few days ago, it was also reported that Wanda, which lacked money, was preparing to sell its third-party payment company Fast Money and was in contact with Byte.
The importance of payments is doomed to continue this battle.