In 2018, Epro, the leading third-party payment company in China, officially celebrated its 15th birthday. In contrast, China’s third-party payment first started around 2000, with UnionPay and Shouxinyi as the mainstays. In 2003, it began to enter the fast lane. Alipay, Epro payment, and quick money have sprung up.
Up to now, third-party payment is mainly divided into three modes: one is the account-based secured payment model, with C-end as the core, and its representative is Alipay; the second is the gateway payment model, the main enterprises include UnionPay, online banking online, etc.; It is an industry payment model represented by Epro, etc., and launches payment solutions for the industry.
Relative to the C-end market, the current B-side payment market is still a blue ocean. At the same time, in 2017, the state strongly advocated the use of “Internet + “Energy-enabled traditional industries. B-side payment as an Internet-based trading channel can help traditional industries realize the transformation of assets from heavy to light”.
Due to the differentiation of different industry characteristics, the biggest feature of B-end payment is on-demand customization. As more traditional companies “touch the net”, third-party payment companies with industry payment backgrounds can better serve these enterprises and help them achieve transformation and upgrading.
With the passage of time, the advantages of B-side payment will gradually emerge. 2B payment companies that have been immersed in the industry for many years are expected to help traditional enterprises to catch up with the Internet by virtue of their first-come advantage and experience.
It is understood that Epro officially launched the first online payment product in April 2005. After more than half a year of thinking, Epro finally determined the industry payment model. Taking this as the root, Epro Pay became profitable in 2009 and soon became the leader of mainstream third-party payment in China.
The compliance development of Internet finance has stimulated the demand for financial services, and payment companies have begun to enter the financial services sector. “Payment is just a basic service. What Epro wants to do is build an open trading service platform through payment. Today we see the payment, not just the payment itself, we call ‘payment +’, it is payment plus many other value-added services. It also includes businesses that do not have the ability to do back-office account management, do CRM, ERP, etc. From the cashier to the middle of the enterprise backstage, we have a lot of value-added services to develop.” Tang Bin said.
For the payment of the B-end, the user often uses but has no obvious perception. For example, Tang Bin, for example, in the airline industry, there will be one payment service using Epro payment after every three tickets. For example, some airlines’ official website, call center, mobile APP and other sales channels prefer to access the relevant payment solutions provided by Epro Payments, but when the user purchases the ticket, the entire convenient payment process will not be invisible to Epro. Paying, without awareness, has already enjoyed the service that Epro pays.
Epro pays through the precipitation of payment data to help merchants better serve its users and merchants, helping merchants to open up upstream and downstream capital flows. Based on transaction flow, help merchants get credit to banks, help merchants to conduct risk control, marketing, etc., and better promote industry upgrades.
At present, the rapid development of the payment industry, the C-side payment pattern for the general public represented by Alipay and WeChat payment has been fixed, the stronger the Matthew effect of the strong industry, and in the future, the fierce competition will be from the C end to the B. The end of the upgrade, the survival of the fittest will make the payment market accelerate.
Epro Pay always adheres to the principle of adhering to the interests of customers, consolidating industry technology and promoting industry upgrading.