The picture shows Qian Fang pays co-founder Li Yinghao
On August 23-24, the 7th Innovation China DEMO CHINA 2012 Finals, jointly sponsored by Zhejiang Financial Office, Entrepreneurship State and Hangzhou Municipal People's Government, was held in Hangzhou Huanglong Hotel. The picture shows the party’s co-founder Li Yinghao.
The following is a live record:
Beijing Qianfang Yintong Technology Co., Ltd. Li Yinghao: Hello everyone, I am Li Yinghao from Qianfang Yintong. I will tell you a little story. I am shopping with my girlfriend in Beijing. I saw a mobile phone case look good, 350 yuan, I can ask for a card. ? They said: Sorry, we are small shops, no POS machines. This problem is happening every day in China. There are no more than 3 million credit cards in Chinese shops, and most of them are branded. The average small micro-business bank is not willing to give them. What should I do? Our products can solve this problem. With such a money plus a card reader, any merchant can accept bank card payment anytime, anywhere. Let's see what the merchant is saying:
After watching the video, we know that the merchants we serve are all small and micro-businesses like the merchants on Taobao. There are mobile phones, beauty salons and so on. Seeing some of the results we have had with our offline payment partners for more than four months, we have been online since April, and we have more than 5,000 merchants, maintaining a 100% growth rate every month. In addition to small and micro merchants, industry customers are also very recognized by us. For example, Digital China (microblogging) uses our products in their stores, and Beijing Telecom also uses our products.
For such a large market, our products need to be continuously optimized. We just launched the second generation of swipe card products this week, fully supporting 5000 swipe cards, greatly enhancing the user experience, and fully supporting all mobile devices. In addition to the personal version of the cashier package, we also have a Qianfang store that connects merchants with consumers. More importantly, we are ready to open the platform to allow more third-party services to make money for merchants.
How do we make money? If you can earn 100 yuan for a merchant, he is willing to pay you 10 or even 20 dollars. We solve the merchant's credit card, we give him more value-added services, so that the money can make more money.
We believe that there are such a large market, such a good product, we will succeed, but more importantly, we have a good product, from 40 to 90 after we are in our team, we have financial, banking, There are also engineers behind the 90s, our team has the common belief: we believe that it is right to serve the merchants.
The last thing, we found that with a small command, in the Qingming River map of 1000 years ago, there is a money shop, we believe that the money will be passed down and we will continue to serve the merchants. Thank you. .
Liu Erhai (Weibo): Everyone knows this mode. This mode is also visible, but there are also Laka, and others are doing it. What do you think is the core of this business competition?
Li Yinghao: There are many followers of mobile payment in China, but we believe that the core model is to solve the merchant's collection needs, but in the collection process, you will worry about losing passwords on other people's mobile phones? Because this does not require a password in the United States, and there is a money on it, is it really a dollar? Therefore, the information and amount of the transaction must be verified and encrypted. This is an important consideration, and it is also aimed at small merchants. It needs not only a payment plan but a concern and service. Through our platform, small merchants can get big merchants. A service that you can enjoy.
Jiang Chun: I would like to ask, how do you prevent some people from engaging in financial cash out of your business?
Li Yinghao: This is a very good question. The popularization of cash is a phenomenon in China. When we are developing the whole product, we have a set of wind control system in addition to the hardware. There are different latitudes, monitoring every day, and we are supervising all kinds of cash. It will be monitored during use.
Tu Hongchuan: Just now you didn't seem to answer Liu's question. Liu always voted for Laka, so where is your real threshold? Slightly simple and clear. And the last point, your trading volume, the percentage now drawn is a normal percentage, or is there no handling fee?
Li Yinghao: It may not be clear enough to answer the first question. Laka is a good brand and a company that has been operating for many years. However, we can see that the main business of Lakala is convenient payment, personal repayment, payment of water and electricity, etc. It is personal-oriented. Ours is very different. First, our whole system is for merchants, from the perspective of cost. From the perspective of value-added, we are a complete set of solutions for mobile devices. We now have a payment platform. We have more than 15 value-added service partners using our product pilots, including some catering companies, which are now used in a restaurant in Beijing. They order, and they can quickly swipe their cards.
Secondly, regarding the payment model, we are the real service providers of payment. We have a little share, but it is definitely not divided into percentages. We are still looking at the larger ecosystem. Through this ecosystem, we hope to bring different companies and companies. Linked up, I have probably talked with three companies about the intention of cooperation. One is to monitor. Many small bosses are actually not looking at the store themselves. He uses this monitoring system to pay 5 yuan a month. I know what the clerk is doing. In fact, all kinds of services, if you rely on one family, even if you are too big may not work.
Lin Haifeng: How do you expand your business? Because your users are small and micro enterprises, and I just saw the demonstration of your product is still more complicated, you need to use the various functions on the phone, how to do user training?
Li Yinghao: We have adopted two options now, one is online, the other is offline promotion, online through some traditional Internet channels, websites, forums, e-commerce, like Digital China is very good For example, why did we pick a 54-year-old driver who is older and do this? We have revealed a number to you, and our version has been revised many times. In addition to stability and other security considerations, the most important thing is interaction. Because we have to go to the smart machine, there are many needs in the middle. We have revised it and clearly watched it. It is good to use them, although more users are now 70, 80, 90, but we hope that all business can be used.
Han Yan: What type of small and medium-sized merchants do you account for the largest proportion of your current user base? What behavior do they use, such as the frequency of use in a single day in the current state?
Li Yinghao: It can be revealed that because there are many channels under the pilot line in the early stage, it is quite similar to some clothing stores or mobile phone products. This is normal because new products have early adopters as clothing stores. There are a lot of gross margins, and the troubles that come up are that the customer has no money, and the customer will leave. If you lose a few thousand dollars a day, there will be no more, so they are very willing to use such equipment. They also have thousands of transactions a day. I really like to use such equipment.
Moderator: Just everyone has a general understanding of this project. Next, Mr. Liu, you are an investor in Lakala. What do you think of this equality? Do you think there is a chance?
Liu Erhai: "Lakara" I am not responsible for the project itself. I have my own views: First, this direction is really very good. The penetration rate of this method can be very high, which is very promising. There are a few minor problems. One is about competition. Because many families are doing this now, they must come up with their own skills. Just now, the judges also talked about the smoother connection with UnionPay and the bank. Second, some intermediate accounts can be processed, that is, some value added on the project. Most of the people in China like Epro are doing a little bit of money in the transaction. Is there any added value on this basis? If the new business comes out, then the value will be much greater.
Moderator: Thank you, Mr. Liu for giving such advice to entrepreneurs. I also hope that I can think about our business model in the audience and really find the killer of our own shots. Thank you.
As a mobile partner who helps us make the down payment, Qianfang believes that there must be market demand in this area. Just commented by Liu, we also saw some hidden dangers in such a project and aspects that need to be worked hard in the future. .
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