The State Council issued "Several Opinions on Accelerating the Development of Electronic Commerce", which clearly put forward the strategic thinking of credit construction: speeding up the construction of credit system and establishing scientific, reasonable, authoritative and fair credit service institutions; Strict credit supervision and disciplinary mechanism for dishonesty will gradually form the principles and objectives of a credit service system that conforms to China's national conditions and international standards. Everyone says that honesty is the cornerstone of e-commerce. It should be noted that e-commerce is not a castle in the air, it is largely based on the traditional economic model and trading environment. Therefore, I believe that honesty is not only the cornerstone of e-commerce, but also the cornerstone of the development of the national market economy. China's credit evaluation and supervision mechanism is not perfect and is still in the stage of multi-head management. Some credit rating agencies may have problems in their own service integrity, and even AAA ratings can be bought and sold at will. The integrity consciousness of the whole society has not been established, and some individuals and enterprises have not paid the price for frequent breach of contract and dishonesty. This phenomenon of "keeping promises without greater benefits" and "breaking promises without greater punishment" has brought high transaction costs to commercial transactions and restricted the pace of traditional businesses moving towards e-commerce.
Compared with traditional commerce, e-commerce usually means that buyers and sellers don't meet, which requires participants to be honest and trustworthy:
( 1)
Asymmetric or even missing information about the credit status of buyers and sellers is often judged comprehensively through experience intuition, online communication and offline investigation. However, the cost of offline investigation is very high, and some businesses are difficult to investigate, which may easily lead to credit problems in transaction information, sources of goods and payment, and affect users' confidence in online transactions.
(2)
In order to promote the healthy development of e-commerce industry, on the one hand, we hope that the credit model under the traditional business model will be improved as soon as possible and credit data will be enjoyed as soon as possible; At the same time, we think it is necessary to establish a necessary and practical credit model and credit data management mechanism for participants in e-commerce.
(3)
Perfecting China's credit management system involves many factors, but legislation and law enforcement related to credit are the most important. We already have an electronic signature law, and we may need a series of policies and regulations in the future, such as the Measures for the Administration of Credit of E-commerce Enterprises, the Measures for the Administration of Online Auction Transactions, and E-commerce Taxes and Invoices.
(4)
The credit management system in the financial field is also very important, which directly affects the performance and normal service of electronic payment and the efficiency and quality of e-commerce. The basic credit system will affect the trust, confidence and efficiency of customers in e-commerce.
Specifically, in B-C, C-C and B-B e-commerce, there are still differences in the integrity status.
( 1)
B-C e-commerce: B2C transactions tend to be mature. Although some businesses cheat consumers, the proportion is not large. Consumers usually choose their familiar and well-known websites for shopping. From 1998 to 1999, we are delighted to see that more and more brands such as Zhuo Yue and Dangdang have appeared in the segmentation field, which has played a positive role in transaction integrity to a certain extent. The transaction volume of these honest business platforms has been enlarged year by year, maintaining a healthy and stable development. Third-party payment platforms have also played a great role in the development of e-commerce by providing online payment services to merchant platforms and their users.
Established in 1998, "Capital Electronic Mall" (now a typical neutral third-party payment platform) has created a "trust mechanism" based on banks-basic account, which integrates banking service resources and opens a third-party payment platform in banks, ensures the timely and accurate settlement of funds through banks, so that bank customers (enterprises and individual consumers) can gradually accept it on the premise of trusting banks. The third-party payment platform requires enterprises to provide business licenses, tax registration certificates and annual inspection certificates to prevent businesses with insufficient integrity from defrauding consumers; Third-party payment platforms remain objective and neutral, successfully resolve disputes among merchants, consumers and banks, and protect the interests of all parties. This model has been widely adopted by the same industry.
(2)
C-C e-commerce: The difficulty of C-C e-commerce is that it is difficult to find a "fulcrum" of trust to complete the transaction under the premise of lack of trust between buyers and sellers. Between the credit rating model and the guarantee model, the guarantee model seems to be more popular with individual users. This payment mode with the third-party intermediary guarantee as the core promotes the development of C2C business to some extent, but the starting point of this mode design is mutual distrust, which leads to the unsynchronized or even long-term separation of capital flow and logistics, thus slowing down the transaction efficiency of e-commerce. For example, the seller's delay in receiving the payment leads to high operating costs and cannot meet the needs of digital virtual goods and services transactions. Judging from the development trend of e-commerce, this guarantee mode is a temporary transition mode under the condition of imperfect credit system and imperfect certification and registration mechanism. C-C e-commerce is a barometer of the integrity level of the whole society, and this integrity and payment mode will be constantly innovated with the development of the social credit system.
(3)
B-B e-commerce: As we all know, domestic B-B e-commerce basically stays at the stage of information exchange between the supply and demand sides. Only a few large enterprises have successfully established their own B-B purchasing or sales platforms, and about 90% enterprises have not even experienced the advantages brought by B-B e-commerce to their own businesses. Due to the large amount of transactions between enterprises, the problem of integrity is more prominent, and conversely, the cost of enterprises not stressing integrity is often high. B-B e-commerce platform and vertical industry platform with large enterprises as the core have relatively high integrity due to various qualification backgrounds and industry leading advantages; However, there are still more traditional ways to achieve it on other types of platforms centered on small and medium-sized enterprises and comprehensive B2B platforms, such as obtaining information online, negotiating, placing orders, renegotiating offline and renegotiating.
In view of the above situation, in July 2006, Shouxin E-Pay released a third-party B-B payment service based on several banks, which has several characteristics:
1)
It is based on the credit information system of domestic banks, not other credit evaluation systems, and gives real-time feedback to buyers' transaction payment;
2)
Secondly, combining the capital flow and information flow organically, the money can be received instantly, which meets the requirements of some merchants in the B-B e-commerce platform for real-time transactions and greatly promotes the transaction negotiation;
3)
Third, we can provide customized services for the management needs of enterprises in business negotiation, order placing and payment, such as installment and deposit payment.
4)
Third-party B-B payment business should be based on national conditions and adapt to local conditions. Our experience is that while solving the payment problem, we have established a "trust mechanism" with the seller's enterprises and banks, which can solve the payment, integrity and capital security problems in B2B transactions well.
There is still a certain gap between China's e-commerce and international e-commerce in all aspects. This gap is not mainly in technology and business model, but in credit system, security certification and payment. As practitioners, they not only need their own integrity, but also need to actively cooperate with the construction of the industry integrity system and constantly innovate and break through.
Second, discuss the development of payment market and third-party payment.
The domestic electronic payment market mainly includes three business forms: the electronic payment platform of banks or UnionPay, the electronic payment platform of third-party payment service providers and the electronic payment platform built by enterprises. In the process of industry development, the following problems are gradually exposed, which has attracted the attention of industry authorities:
1.
As a new form of currency, virtual currency has formed an important part of the virtual financial system. Before it is brought into the supervision system of the central bank, we should guard against risks as soon as possible.
2.
The risk management, self-discipline and supervision system of electronic payment business needs to be established and strengthened;
3.
Identification, protection and development of electronic payment operation qualification;
4.
Payment business objectively provides financial extension and value-added services, and its business scope should be clarified to promote bold and clear innovation of its business;
5.
We should be wary of disorderly or even vicious competition in the payment industry, which will damage payment services and even have a negative impact on the development of e-commerce business.
6.
While protecting electronic transactions, the state should consider establishing some standards, technologies and policy preparations for the unified planning of industrial and commercial management, tax collection and management and government industry management from the perspectives of payment authentication, payment standards and transaction transparency.
7.
We should be highly vigilant against money laundering, international payment transfer, international credit card theft and international transaction tax loss in the electronic payment industry;
It can be seen that the risk of leaving the electronic payment industry unregulated is great. However, when monitoring third-party payment platforms and other payment platforms, we think that more development space should be given to third parties.
The advantages of third-party payment are: interest neutrality and relatively open business model, which can meet the changes of business models of different enterprises and help businesses create more value. Third-party payment is based on the services of banks and cooperates with banks to provide personalized electronic payment services for large and small enterprises and develop value-added services for banks. Obviously, the personalized service cost of banks is still high, and some businesses with high operating costs may be profitable for third-party payment service providers.
Third-party payment has developed rapidly in the past two years, and innovative applications are constantly emerging. Let's analyze the value and significance of the existence of third-party payment:
1, reducing social transaction costs
1) Banks have accelerated the processing speed and efficiency, and enterprises have reduced labor and time costs;
2) The third-party payment platform enables enterprises to connect with multiple banks, thus reducing the development and maintenance costs;
3) Reduce the risks of transaction cancellation or delay, payment failure and credit fraud, and improve the success rate of enterprise transactions.
2. Enhance the competitiveness of enterprises
1) The improvement of enterprise transaction efficiency and benefit has promoted the emergence of many new innovative services;
2) With the expansion of business coverage, customers have more choices in payment methods;
3) Third-party payment service providers have promoted consumers to eliminate doubts about small and medium-sized businesses.
3. Promote industrial development
1) Help banks to promote e-banking business and promote the development of B-C and C-C business;
2) Banks and enterprises can focus on product and service design and marketing;
3) The third-party payer handles the transaction objectively and neutrally to safeguard the legitimate rights and interests of all parties.
It can be seen that the professionalism and professionalism of third-party payment service providers have indeed promoted the development of e-commerce in China, but the development environment of third-party payment service providers has gradually become more complicated.
Firstly, the revenue model of third-party payment service providers is tested. Because the direct payment income of the third-party payment business has gradually become transparent, the decline is large, the cost paid to the bank from the transaction fee remains high, and the direct gross profit margin of the payment business is quite low. If services are provided at lower cost or even free of charge than banks, the short-term profit possibility of these service providers is very small. It is a common phenomenon for other businesses to subsidize payment services, but it is very dangerous to use this idea of free Internet for users to carry out payment services that are crucial to the operation of virtual economy from the perspective of industry development. Therefore, it is hoped that the government will introduce relevant policies as soon as possible to identify, protect and develop third-party payment services in the long run.
Second, there is insufficient innovation and serious homogenization competition. The higher the overlapping ratio of payment services among third-party payment service providers, banks, UnionPay and internal payment platforms, the greater the vicious competition, which will easily lead to problems in the stable operation, quality service and integrity of payment service providers. The final result is that the interests of enterprise users and individual users are damaged, and the payment platform providers with weak strength and lack of innovation and profit growth points are eliminated.
Third, the development of commercial banks urges payment service providers to accelerate innovation. Banks are important strategic partners of third-party payment service providers, and they also take a large proportion of payment income from third-party payment service providers; At the same time, individual banks use lower rates than third-party payment service providers and compete directly with third-party payment service providers at the low end. Under the restriction of its own informationization and immature market, the cooperation with third-party payment in previous years was good. Now our bank realizes the importance of online banking, and gradually develops user-oriented online services on the basis of online banking. This requires third-party payment service providers to jump out of the past business limitations, reach deeper cooperation with banks at a new starting point, realize new business innovation and achieve a win-win situation.
Fourth, industry authorities need to have corresponding support policies while supervising payment services. As we all know, the central bank's management rules for the electronic payment industry will be introduced one after another. While strengthening supervision, how to help and support third-party payment? The ideal environment is that the competent authorities reduce unnecessary administrative intervention, help third-party payment service providers to win preferential tax policies, unify the technical specifications of bank payment gateways, and unify the digital certificates of banks, so as to give the market a relatively relaxed and favorable development environment.
Establishing and realizing safe, simple and universal electronic payment function is the requirement of the development of domestic e-commerce, which should be the responsibility of the government, banks and payment service providers.
As the managers of the industry, the government and the central bank are not the main body of industry innovation, so they should play more role in policy support;
Commercial banks bear the responsibility of innovation and are also restricted by their own conditions. Their service ability to enterprises and individuals is limited, and their flexibility in developing business is also insufficient. They should make use of their own advantages and cooperate with payment service providers to innovate.
Third-party payment service providers have different attributes such as online, offline, national, local and industry, adopt different payment forms, serve different objects, and have a more thorough understanding of user needs. They are the main force of innovation in the electronic payment industry, the partners of commercial banks, and the customers of commercial banks, and they depend on the business systems of commercial banks to a considerable extent. The domestic electronic payment market is in a booming period. Card-based payment, online payment and mobile payment coexist at the same time, and the market capacity is huge. National online payment service providers and mobile payment service providers, local offline payment service providers and payment service providers integrating various payment forms all have broad development space.
There is also a class of payment service providers that cannot be ignored, that is, enterprises that build their own payment platforms, which may be telecom operators, public service operators, Internet service operators, e-commerce enterprises, etc. They have a deep industry foundation or a huge number of customers, and they are also a force that cannot be ignored in the innovation team of the electronic payment industry.
Third, security authentication.
We know that e-commerce refers to the use of digital electronic means for business data exchange and business activities. All kinds of business platforms, trading platforms and payment platforms should conscientiously and responsibly perform the tasks entrusted by buyers and sellers, and actively assist both parties in closing the transaction. Among them, the certification center plays a supervisory role in the signing and performance of contracts between buyers and sellers, and both buyers and sellers are obliged to accept the supervision and management of the certification center. Certification bodies play an irreplaceable role in the whole process of e-commerce, including electronic payment.
However, according to incomplete statistics, although there are no unified norms and standards for electronic authentication at present, there are more than 100 electronic authentication institutions established in various industries, regions and departments in China, and some banks have started to make their own authentication systems. Although CA authentication plays a very important role in the transactions between buyers and sellers in e-commerce, from the perspective of the future development of e-commerce industry, on the one hand, it is urgent for the state to unify various decentralized CA authentication systems from the perspectives of transaction, payment and virtual currency supervision; Second, it is necessary to consider the unified registration of buyer and seller authentication, order authentication and virtual currency authentication; Thirdly, the development of CA certification needs to be combined with its application, such as promoting the application of CA in the process of implementing G2B business (enterprise online tax payment, etc.). Fourthly, e-commerce should also attach importance to the small and medium-sized enterprise market.
When it comes to e-commerce, many people think that only large enterprises can benefit from the development of e-commerce. In fact, according to our service experience, the majority of small and medium-sized enterprises provide a variety of product sales, service provision and data content sales in different links of the industrial chain. According to statistics, in China:
Small and medium-sized enterprises account for 99.5% of the total number of enterprises;
The value of final products and services created by small and medium-sized enterprises accounts for more than 50% of GDP;
Small and medium-sized enterprises provide more than 60% of the country's exports and 46.2% of the tax revenue;
Small and medium-sized enterprises have absorbed 75% of the employed people in the whole society;
Small and medium-sized enterprises have created 65% patents and more than 75% technological innovations;
More than 80% of new products come from small and medium-sized enterprises;
A large number of small and medium-sized enterprises are brave in innovation, which is an important foundation for China's economic growth and should also become an important force in e-commerce and electronic payment services.
From the development of e-commerce, credit and payment, I hope that both the design of credit system and the positioning of payment services should be far-sighted, and the markets of small and medium-sized enterprises and traditional industries should not be ignored, whether domestic trade, foreign trade, fund settlement or other value-added services can support the development of payment service enterprises.
I hope everyone will work together to promote the successful experience of e-commerce development, improve the development environment of e-commerce, promote the harmonious, healthy, sustained and rapid development of e-commerce and build a bright future of e-commerce and e-payment in China.