White strip VS flower garden: fast-food consumer finance into a new battlefield

Before this National Day holiday, the 90-year-old Hong Mi Zijun ate the McDonald's incident and triggered a hot discussion among netizens. In just half an hour, the 90-year-old net red ate up to 25 packets of French fries, and then ate two cups of wheat whirlwind, and its crazy move attracted people around to take pictures. So, what is it that stimulates the 90-year net red so crazy consumption?

In the process of live broadcast, many eye-dropping friends found that Mi Zijun used the "White Strip" product of Jingdong Finance when he brushed the POS machine. He could enjoy one get one free at McDonald's through "White Strip Flash Pay", which greatly Stimulated the consumer desire of Mi Zijun. Jingdong Finance's white strip suddenly smashed to McDonald's, which reminds me of the fact that Ma Yun's father bought KFC on the screen.

White strip VS flower garden: fast-food consumer finance into a new battlefield

Why do the giants have to make a fuss about fast food?

Liu Wei personally believes that there are three reasons:

I. Entering the food and beverage consumer financial market

Whether it is Ant Financial or Jingdong Finance, the two major financial technology giants have very similar product forms in consumer finance. Ant's gene behind it still relies on Tmall and Taobao, and then developed Alipay on this basis. Then, on the platform of Alipay, it launched a consumer financial product such as Ants. The foundation behind Jingdong Finance is the same. It was also in Jingdong Mall, and later launched a series of financial products such as Jingdong wallet and white strip.

As one of the largest consumer markets in China, catering is known for its market size. According to the National Bureau of Statistics and industry open data, the market size of the catering industry reached 3.2 trillion yuan in 2015, an increase of 16% from the previous month, and fast food consumption is the most important area of ​​the entire catering market. KFC and McDonald's respectively acted as two super-chain stores in the fast food industry. Ant Financial Co., Ltd. entered into Yusheng China (including KFC), and Baizhi and McDonald's reached a strategic cooperation. The intention was to eat the huge consumer finance market.

Second, borrowing offline market to achieve greater breakthroughs

Prior to this, Jingdong Finance's Baizhi and Ant Financial Services all expanded their consumption finance layout by reaching strategic cooperation with online e-commerce and O2O service platforms. However, compared with online, offline is a market with a larger market. The most important thing is that the current offline mobile consumer finance is still in a relatively blank state.

Ant Financial Services has invested in Yum! China, which means that it wants to make greater breakthroughs in the consumer financial market offline, but currently White has taken a bigger step. The "White Strip Flash" launched by the White Strip can not only be consumed at KFC, but also consumed at more than 8 million merchants, more than 19 million UnionPay flash POS machines, including Burger King, Wei Duomei, Lafayette, Shin Kong Place, and support. Apple Pay, Huawei Pay, Xiaomi Pay and many other mobile phones.

Third, create a more convenient offline payment consumer experience

Previously, we had to open a credit card for overdraft consumption online. However, the general application period of the credit card is long, and it is necessary to submit certain application materials, and the white card flash payment can be opened in a few seconds only after simply submitting the name, ID card, and bank card information to verify the identity. Compared with traditional credit cards, this way of using mobile phones to overdraw consumption is more convenient and faster.

Driven by Jingdong Finance and Ant Financial, consumer finance will also become a fast-moving consumer goods.

Today, driven by Jingdong Finance and Ant Financial, consumer finance is rapidly moving to every different market segment. Campus consumer finance, tourism consumer finance, renting consumer finance, decoration consumer finance... White bars and ant flower buds are entering all consumer markets at full speed.

In particular, after the white line flashed on the line, it directly opened more than 800 merchants across the country, and its coverage of the consumer market is unprecedented, which will inevitably lead to the development of offline consumer finance. The white-line flash payment can be completed in one second to complete the offline consumer payment, and it is directly to turn consumer finance into a fast-moving consumer goods.

For FMCG, speed and convenience are two indispensable features, and it is also the two experiences of consumers pursuing FMCG. In this eleventh Golden Week, many users have used the white strip to pay for the consumer experience. However, unlike Alipay and WeChat through the binding of credit card or savings card for payment and consumption, the white strip flash payment is directly on the UnionPay flash POS machine to brush the phone to play "white strip", which fully matches the speed, convenience and other fast-moving features.

White Strip Flash is currently ahead of the offline mobile consumer finance, but in the future it will still face the rival of Ant Ants from Ant Financial. Although Ant's current online scene layout is slower than white strips, it is also accelerating the layout speed of offline consumption scenes.

Financial technology will follow the example of white strips and ants, but it’s not as easy as it is to consume consumer finance.

In fact, in addition to Jingdong Finance, Ant Financial, many domestic Internet financial platforms have already begun to smash the big fat meat of consumer finance, but can they quickly occupy a certain market share like white strips and ant flower buds? I'm afraid it's not as easy as I thought. They still need to crack a lot of difficulties before they can get a piece of it in this huge market.

Difficulties: the issue of credit

It is easy to get a precise credit report for each user through a mobile app, and I am afraid that there are currently few platforms that can be fully implemented. At present, the domestic credit information system is not perfect, and the coverage of credit information is very narrow. It is difficult for most Internet financial platforms to easily obtain credit data from users. Jingdong Finance has already connected to the central bank's credit information system in early 2015, and Baizhi relies on Jingdong Finance, and can rely on the user consumption data accumulated by Jingdong Mall to solve the online credit review problem for users. The ant flower bud can also rely on the sesame credit of ant Jinfu as an important data reference.

Difficulties 2: risk control issues

Although the amount of overdraft in consumer finance is not large, once it is overdue, it will be a huge threat to the platform. Even when the overdue scale reaches a certain amount, it may directly drag the platform. However, the white strips and the ant flower buds are different. They rely on the Jingdong Finance and Ant Financial Service behind them. The most important thing is their risk control strength.

Difficulties three: connection problems

I want to do consumer finance, but there is no consumption scene, how to play? White Strip initially relied on Jingdong Mall. Ants also rely on Tmall and Taobao. After accumulating a considerable number of users on this basis, more and more platforms will be willing to cooperate with them. This is the reason why the white strip flash payment can directly open more than 8 million merchants nationwide. The key lies in their strength and user base.

Conclusion

From the post-90s net red with white bars to eat McDonald's, Ma Yun dad bought two popular events in KFC can be seen that the huge market potential of consumer finance. Jingdong Finance and Ant Financial Services have fancy the fast food industry, and their intention is to incite this trillion-dollar offline consumer financial market to create a more convenient offline consumer financial user experience. Driven by the white-strip flash, consumer finance is becoming a new fast-moving consumer goods. It will also attract more and more Internet financial platforms to enter the offline consumer financial market, but credit, risk control and connectivity have become The three roadblocks in front of them.