Shulou(Shulou.com)06/03 Report--

There are many discussions about BAT doing O2O in the industry, but BAT has never identified itself as an O2O company. Although the three giants have set foot in the O2O market to varying degrees, they are more focused on online things such as traffic, information and data. The real core is mobile payment, especially the value of big data contained in mobile payment.

Tencent's payment ambition WeChat Pay + QQ Wallet strives for Alipay wallet

Over the past year, WeChat Pay and Alipay wallets have been competing for offline payment scenes. Alipay Wallet has reached cooperation with Carrefour, China Resources Wanjia, Auchan, Wuhan Zhongbai, Suguo, 7-11 and other supermarkets and convenience stores; WeChat Pay has also successively accessed Yonghui supermarket, top-grade discount, Bu Benglianhua, Lianhua Merchants, Carrefour and so on.

When it comes to expanding the mobile payment scene, Tencent has been equally active. The successively invested comments, 58, JD.com, Didi, Meili, Tongchuan.com, Pocket Shopping, Registration, ele.me, etc., are all aimed at rapidly increasing the use of WeChat Pay and QQ Wallet. In addition, there are also trading scenarios such as Internet finance, Credit Card Repayment, utilities and coal payments, train tickets, phone charges, movie performances, *, red envelopes, money transfers, collection, as well as Tencent members, Q coins, game props, and so on. On the issue of mobile payment scenarios, there are Alipay wallets. Tencent has basically provided them to WeChat Pay and QQ Wallet, and the rest is the fight between WeChat Pay and QQ Wallet against Alipay wallets.

In the mobile Internet market, WeChat Pay and QQ Wallet, who rely on Wechat and QQ, have a larger user base than Alipay wallets, especially QQ Wallet, which covers 600m Mobile QQ users. This order of magnitude is even larger than that of Wechat in the same door, and it has a wider coverage, all in one, two, three, four and five cities. During the Spring Festival, Tencent's entire mobile payment transactions peaked in the hundreds of millions, setting a new record. Of course, WeChat Pay's development mainly depends on the frequent use of users with high spending power in social relationships such as money transfers and red envelopes, and now Tencent needs to rely on QQ Wallet, who is younger in the user's age, to compete for more O2O consumer market. It is understood that when the Alipay cable was broken, Mobile QQ's payment volume rose crazily. Some analysts said that the possible fight against Alipay depends on Mobile QQ, whose users are younger and third-and fourth-tier cities.

At the 2015 Summer O2O World Expo two days ago, Zheng Haojian, vice president of Tencent Tenpay, said that QQ Wallet already has a perfect virtual recharge payment business and has reached cooperation with Dianping, VIPSHOP, Didi Taxi and other third-party life service providers. The next step is to develop more partners offline from three directions. First, around the national chain organizations, grasp the life scenes most commonly used by users, extend QQ Wallet's services to serve QQ users; second, for the vast number of small and medium-sized businesses, and even street shops, so that users can scan the QR code to pay, or enter the QQ number to complete the payment; third, cooperate with O2O enterprises, such as laundry, car washing, manicure, etc., to open up Tencent's capabilities to support their development.

Tencent hopes to form a complementary coordination between WeChat Pay and QQ Wallet, so that they have a better chance of winning in the competition with Alipay wallets in the mobile payment market. In fact, in the mobile payment market, the place where Tencent is inferior to Alipay lies in the transaction volume of remote payment. Alipay is used more frequently in online shopping transactions and commercial transfer, but it is not particularly prominent in the application of offline payment scenarios. Tencent and Alipay stand on the same starting line on this issue. If the goal is to get more consumption data, Tencent is trying to give full play to QQ Wallet's coverage ability in the right direction.

O2O provides information and scenarios, and mobile payment contains the value of big data.

The two major features of O2O are the "consumer demand information" for merchants and the "service transaction scenario" for users. On the one hand, O2O platforms such as Meituan, Dianping and 58 provide merchants with information about their consumer needs. On the other hand, O2O platforms provide users with service trading scenarios for merchants, with which O2O platforms can closely combine online users with offline merchants. However, there is still a payment process between the "consumer demand information" and the "service transaction scenario". The greatest value of mobile payment is that it can record the consumption record of each O2O.

As far as BAT is concerned, at present, it does not attach importance to the deduction rates brought by mobile payments, and even the three companies are sticking money to promote various mobile payment tools. What BAT values is that there is data hidden behind every consumer payment, and what users have eaten, bought, and enjoyed services can be recorded through mobile payment. After these data reach a certain order of magnitude, big data's market value will be reflected.

At the same time, for individual users, after using mobile payment for a large number of times, the platform can form a user model according to their consumption records and gain an in-depth understanding of users through multi-dimensional consumption records. including users' credit rating, consumption capacity, financial needs and so on, these data information from mobile payment can be used in many fields. In addition, combined with BAT's respective data in e-commerce, social networking, and search, the value of big data's business use will be more significant.

Big data, exactly what BAT wants should be clear, right? The relationship between the three is interlinked, and each is very important, but for the three Internet giants, the ultimate goal is to focus more on the value of data, especially in the future big data era, data capability will be the core competitiveness of BAT, so now it is more necessary to vigorously develop mobile payment while laying out O2O.

Tencent has made great efforts to develop QQ Wallet on the basis of WeChat Pay, which aims to cover different users in different cities through two major product portfolios. The more users, the greater the amount of data, the greater the value of big data in the future. The competition at the level of capital flow and capital volume has already been the core issue in the last period. Obviously, Alipay has taken an advantage in this respect. Tencent is now more concerned about the market position in the data capacity of mobile payment in the future, and the competition at this level. Alipay does not have an advantage, and it will be seen how it will turn out in the future.

/ Wang Liyang / tr. by Phil Newell)

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