Didn't pay the license, smart food "see the light dead"?

[Editor's note] The concept of Internet catering has been ups and downs, and catering service providers have shown a trend of coming up. Among them, smart catering enterprises starting from catering + payment, after the gradual strengthening of Internet financial supervision, are also faced with doubts and concerns about the risk of payment licenses.

The central bank has been very busy recently.

On February 20th, the central bank just issued the normative document No. 45 in 2017. The chopsticks play the whole text and read the full text. It is obvious that the intention of the central bank is obvious, that is, it is necessary to rectify the market for the acquiring service. Not only that, but the central bank also recently concentrated on a number of platform-based enterprises involved in aggregate payments, including vertical e-commerce platforms, smart catering vendors, and live broadcast platforms.

The focus of the central bank's Thunder action is whether those non-licensed platform-type enterprises may involve the settlement of funds and the precipitation of funds. Commercial entities that have undergone national qualification review must not only have certain anti-risk capabilities, but once they hold a payment license, the central bank will regularly supervise and review it to prevent enterprises from running, which will lead to economic and people's livelihood problems.

Specific to the entire smart catering industry, according to the chopsticks play thinking survey, more than 99.9% of the business entities did not pay the license.

So, what does it mean for smart catering companies not to pay licenses? Should I be killed by a stick without paying a license? Focusing on the focus of payment licenses, what will happen to the future market development trend?

Regulatory concerns: non-licensed institutions in the name of aggregate payment, the implementation of "two clear"

It is understood that there are currently no platform-based enterprises that have paid licenses on the market, and some have adopted the “two-clear mode”. In addition, some enterprises are trying to avoid the suspicion of the second-qing model and related regulations by means of “aggregate payment”.

One clear and two clear is the popular name of the market. Simply put, one clear refers to one liquidation; the second clear refers to two or more liquidation. In the first instance, the bank or the payment company directly docks the merchant; in the second, the payment company or the bank first pays the settlement of the POS machine to an individual or a company, and then the company or individual settles the merchant.

In the final analysis, the flow of funds is the core difference. The funds are paid to the Erqing institutions through the customers, and the second clearing institutions then transfer the money to the licensed acquiring institutions or individuals, and finally these institutions and individuals are uniformly settled to the merchants.

Therefore, judging whether a smart catering enterprise is "two clear", whether or not to pay a license is a prerequisite, and it is certainly no problem to have a license. The ultimate core indicator is whether the merchant's transaction funds have been transferred to others through the platform. If the merchant settles the funds and finds that it is settled with an unlicensed smart catering platform or an institution that has never heard of it, then it is determined that it is a second clear mode.

This website is to be verified by many smart catering enterprises such as customers such as Yunqi, Ziguang Food Cloud, Delicious, etc., 2D Fire, Screen Core Technology, Orange Interactive, etc. Some of the responding companies have relatively consistent caliber, saying that they have no formal contact transactions. Funds are directly remitted to the restaurant account through Alipay, WeChat and other channels.

Such as the guest cloud and two-dimensional fire response, they are taking the "aggregate payment" method, that is, supporting a device to scan code WeChat, Alipay, Baidu wallet and other third-party payment methods, but the money paid by consumers It is directly to the merchant.

Aggregated payments are relative to third-party payments. Third-party payments are between banks and merchants. Aggregate payments are between third-party payments and merchants. By aggregating various third-party payment platforms, including UnionPay, WeChat, and Alipay. And a variety of payment methods are carried by a unified software and hardware platform.

Aggregate payment does not carry out fund clearing, so there is no need to pay the license. It is only the information transfer and the operation of the merchant operation. The value is to help the merchant to reduce the access cost, improve the operation efficiency, and have neutrality, flexibility and convenience. Features.

Of course, this is the ideal definition of aggregate payment, but in fact there are indeed many Erqing institutions in the industry that use aggregate payment.

The central bank has to investigate and deal with the rectification. It is not a convergent payment enterprise on the market, but a company that does not have the payment of a license, but does not have the payment of a license, but the industry mentioned by the industry.

The fundamental hazard of Erqing is that the funds will be deposited in the hands of licensed acquirers or individuals who cooperate with smart catering companies. Since these institutions and individuals usually do not have substantial business and large fixed assets, they can run and run at any time. The road cost is zero, which leads to the chain of people's livelihood and social and economic problems. This is also the worry of the regulatory authorities.

Aggregate payments and "AllinOne" still have market space

As a restaurant service provider, smart catering companies adopting the second-clear mode or holding a payment license is equivalent to having the ability to provide near-perfect "aggregate payment" services. Of course, the difference is that the former is in violation of regulations and risks, and the latter is in compliance with the regulations of the central bank.

Merchants are now facing more and more third-party payment platforms, and the third-party payment market is currently dominated by a monopoly. Therefore, it is time-consuming and labor-intensive for merchants to settle funds on a one-to-one basis. It can be settled on behalf of smart catering companies or Erqing institutions that hold payment licenses, and 100% “AllinOne”.

“AllinOne” is the terminology of the smart catering industry and the ultimate goal pursued by management software – the simplest blend of features in the fewest devices to maximize the overall efficiency of the catering business.

A company that does not pay a license means that it is unable to provide a settlement service without violating the rules, and can only provide a fourth-party aggregate payment service in the traditional concept, which causes a certain loss to the store operation efficiency.

Of course, this is a theoretical reality. In the real business world, the current licensed smart food and beverage products must be suitable for all catering enterprises? Vendors that use aggregate payments are definitely not good?

It is also difficult to say.

For example, when we are eating in some small restaurants or small chain brands with only a few stores, because these restaurants are individual industrial and commercial households, many times we can directly scan the WeChat and Alipay QR codes, and the transaction is directly hit. In the account of the boss or the restaurant, there is no need to pass the scanning code gun of the smart catering manufacturer.

This is because smart food and beverage products are usually modular, merchants can choose not to access the manufacturer's settlement system according to their own needs, and this settlement method is relatively high for these small stores, regardless of cash flow efficiency or store operation efficiency. .

For some large-scale chain enterprises, with the increasing number of stores, the difficulty of fund management has grown exponentially, and the smart food and beverage products that can settle funds with various channels have naturally become the first choice.

However, in the chain catering enterprises, there is another special case. Many of the profits are thin or in the period of capital pressure, and the restaurant that cares about the cash flow turnover rate does not want to be “agent”. Because if it is the platform of the smart catering enterprise, the funds will inevitably stay on the platform for a while.

The platform charges a certain percentage of the handling fee, and the tens of millions of funds that are stuck on the platform are terrible. This requires the catering enterprises to dynamically grasp the business conditions and business characteristics, whether to use the aggregation payment products or the AllinOne products with the settlement function, or whether to fully access the settlement system.

From another perspective, the market is stratified, and the specific business conditions and business characteristics of each enterprise will also have an impact on product selection. This is also the reason why today's products that focus on the concept of aggregate payment or "AllinOne" products can occupy a part of the market, which is the active choice of the market.

Future trend prediction: Licensed or will become the basis for smart food and beverage competition

The payment of licenses is undoubtedly the dream of a smart catering company that wants to grow bigger and stronger. Yan Xinjian, executive director of traditional food and beverage management software Tiancai Shanglong, also said: "I have been thinking of ways."

The opposite of "thinking the way" is the deformed market that pays licenses for hundreds of millions of dollars. It is not a healthy phenomenon to pay a license to become such a tight asset. The central bank needs to strengthen policy research and cannot restrict the license as the only means of managing the market.

At present, the payment license has not yet become the core of market competition, but the smart food and beverage track is being blown wider and faster, and sooner or later, one day, no license will constrain the competitiveness of the business or even the product itself. Many highly qualified companies In the end, it is likely to die without a license. And obviously this does not meet the requirements of the market economy.

According to a person from a licensee, the current payment license is divided into wholesale and a dozen. However, in the future, the payment of licenses for hundreds of millions of yuan will be eased, and the number of licenses will increase.

This is not an ecstasy. The reform is forced to some extent. Just as China had only four major state-owned banks at the beginning of reform and opening up, and then with the development of the economy, China Merchants Bank and Minsheng Bank appeared. Around the 21st century, local banks have sprung up.

In recent years, third-party payment and even aggregate payment have been a further supplement to the traditional banking business, and now only progress to the stage of the surge in demand for payment licenses. Presumably, the central bank will be the first to throw an olive branch to an excellent company with excellent qualifications.

At present, under the active adjustment of the market, the traditional aggregate payment and “AllinOne” which can be settled on behalf of each other have their own market share. Together with WeChat, Alipay and UnionPay are also launching an open clearing platform, which seems to have no problems.

But in fact, with the development of the catering industry, it is the industry consensus that large chain companies of “big companies and small stores” will become mainstream. For these growing chain companies, fund management is a potential pain point, and it is better to provide settlement services.

At present, the catering products have their own shortcomings, and the fund management has not become a major contradiction. However, when the basic problems are slowly solved, the payment license and “AllinOne” will be inseparable.

Even enterprises that have urgent requirements for capital flow can still choose the switch settlement module according to their own needs. In particular, the slogan of SaaS is coming, and the standard capability of “configuration + customization” allows merchants to switch financial modules in real time.

Although, for licensed smart catering companies, it is good for merchants to store funds on the platform for a certain period of time. With the capital value and competitiveness of the platform, it is another realm.

Chopsticks thinking research believes that focusing on the smart food of B-side merchants, it is expected to create a great company that is comparable to Alibaba and New America. First, the high-frequency data value of food and beverage consumption is more imaginative than Taobao. Secondly, the smart food and beverage enterprise was born on the B-end, and has the genetic advantage of serving the B-end. Ali, Xinmei, etc. started from the C-end, and it is difficult to escape. The rise of the path and the limits of the value network.

So there are opportunities, and there are also ambitions.

Then, it is hard to imagine that a company that wants to be bigger and stronger does not pay a license. Jingdong started from the e-commerce platform, and then did offline logistics, and finally made Jingdong Finance. After winning the "Internet Banking Online" payment license, Jingdong gave birth to a healthy fund pool, and began to start the financial business such as Jingdong Baizhi.

Microscopically, the financial business as a value-added service of the e-commerce platform has strengthened the competitiveness of the Jingdong e-commerce platform. On the macro level, JD.com has a payment license and has also started a business for a fourth-party service provider for logistics companies and even licensed acquirers.

Smart catering companies also have a payment license, which not only increases the value of their own capital, but also increases the market competitiveness of financial services as a value-added service. It can even generate more and more imaginative financial services. .

Payment licenses have become the starting point for all dreams, and their value to smart catering vendors, restaurants and consumers is much larger than expected. In the future, if it is true that Zhao Guangjun, the founder of the two-dimensional fire, said that to be a trillion-scale enterprise, without paying a license, it becomes an unreachable dream.

At least, on the level of product competitiveness, it will be opened up, and the dream can be ignored.

This website believes that, in any case, smart catering enterprises should get payment licenses as soon as possible. Even if the central bank will act sooner or later, the licenses will still be the sword of Damocles hanging over the top of the manufacturers. After all, they have been seized by competitors for too long. The gap between the ministry and the tail will increase.

From the objective dimension of enterprise development, whether you think that the public is unfair, whether you get a license or not, it really decides whether you can survive the future market reshuffle.

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