Source: Photo.com
Recently, Douyin spent 1.4 billion yuan to "distribute" the financial license in hand.
According to the announcement issued by Hailian Jinhui, it plans to transfer its wholly-owned third-level subsidiary, UMF E-commerce Co., Ltd., to Tianjin Tongrong E-commerce Co., Ltd., and the transaction price is the benchmark transfer consideration of 750 million yuan + net assets on the delivery date ± the adjustment amount of other matters, referring to the appraisal report issued by Shanghai Dongzhou Asset Appraisal Co., Ltd., the appraisal value of all shareholders' equity of UMF is 1.382 billion yuan.
It is reported that Tianjin Tongrong was established in 2013, after penetrating by Douyin founder Zhang Yiming holds 99% of the shares, Douyin Group Chairman Zhang Lidong holds 1% of the shares, at present, Tianjin Tongrong holds 100% of the equity of Douyin Pay's license subject Hezhong Yibao, after the completion of the acquisition, the linkage business will be merged by Hezhong Yibao, which shows that Douyin has opened up the financial field "offline payment" link.
It is understood that UMF, which was established in 2011, has the "Payment Business License" issued by the central bank, and can engage in bank card acquiring, Internet payment, and mobile phone payment business nationwide. This means that in the future, when making offline payments, you can not only scan WeChat and Alipay, but also scan the Douyin QR code to pay. As the relevant person in charge of Douyin payment publicly responded, the transaction is to support offline transaction scenarios such as life services, and provide users and merchants in the Douyin system with a more convenient payment and service experience.
In June 2018, Toutiao acquired 100% of the shares of Beijing Huaxia Insurance Brokers Co., Ltd. through a wholly-owned subsidiary, thereby obtaining an insurance brokerage license and launching the "insurance" section in Toutiao; In August 2020, Douyin's parent company completed the acquisition of Wuhan Hezhong Yibao Technology Co., Ltd., obtained a third-party payment license, and officially launched Douyin Pay on the Douyin APP on January 19, 2021; In January 2021, ByteDance established ByteDance Commercial Factoring Company, which can provide accounts receivable financing services, and in October of the same year, Toutiao Technology Co., Ltd. wholly acquired Shenzhen Zhongrong Microfinance Co., Ltd., "won the full amount" After the small loan license, we will increase investment in products such as "Assured Loan" and "Douyin Monthly Payment".
At present, Douyin's financial territory has covered online and offline payment, commercial insurance, financing guarantees, online small loans, etc., basically covering different payment scenarios in the financial field.
The type of third-party payment business
Third-party payment can be subdivided into bank card acquiring, online payment, and prepaid card issuance and acceptance according to the business type. Among them, bank card acquiring refers to the act of collecting monetary funds for special merchants of bank cards through point-of-sale (POS) terminals; Online payment refers to the act of transferring monetary funds between payees and payers by relying on public networks or private networks; A prepaid card is a kind of prepaid voucher issued for profit through a specific carrier and form, which can be used to purchase goods or services at a specific institution.
According to the different payment terminals, online payment can be subdivided into fixed telephone payment, Internet payment, mobile payment, digital TV payment, currency exchange, Internet payment and mobile payment are the most mainstream network payment methods.
The profit model of the third-party payment industry
From the perspective of third-party payment income, the main profit models include: access fee model, service fee model, transaction commission model and other innovative revenue models.
The size of the third-party payment marketplace transactions
According to the statistics of the Payment and Clearing Association of China, from 2016 to 2021, the scale of mobile payment business of non-bank payment institutions maintained a growth trend, with a five-year compound growth rate of 48.37%, but the growth rate slowed down. In 2022, the scale of mobile payment business of non-bank payment institutions will decline year-on-year for the first time in nearly five years, reaching 317.33 trillion yuan, a year-on-year decrease of 11.73%. Combined with the statistical data of previous years and the trend of market changes, preliminary statistics show that the scale of mobile payment business of non-bank payment institutions will rise slightly in 2023, about 368 trillion yuan.
According to a research report released by CITIC Securities, China's third-party payment relies on the Internet platform to build a unique localized ecology to achieve corner overtaking, and the payment amount will account for about 30% of the global market share in 2022. Looking back on the development process of more than ten years, we can see a clear regulatory main line. In the initial stage and development period, the industry has expanded and iterated around the needs of C-end users, and has now entered a mature period, and the dual-leading competition pattern of Alipay and WeChat has entered a steady state. Looking ahead, Douyin is a perturbation variable worth paying attention to in the incremental market and is expected to have a place. In addition, under the irreversible development trend of global trade digitalization, the cross-border payment market has a large space, a large profit margin, and high barriers (overseas localization and service ecology capabilities). It is recommended to focus on the existing domestic payment leaders, cross-border payment leading institutions, and major contributors to incremental traffic.
Prospective Economist APP Information Group
For more research and analysis of this industry, please refer to the "Market Prospect Forecast and Investment Strategic Planning Analysis Report of China's Third-party Payment Industry" by Qianzhan Industry Research Institute
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