In China, almost everyone is using Alipay, a must-have app for their livesIt greatly facilitates our daily life.
But you may not know that in foreign countries, there is also a called"The Indian version of Alipay"apps are making their mark, and there is a mysterious man behind it - Jack Ma.
It is reported that this is known as"Asia's most influential figures"Jack Ma has been quietly laying out the international marketEspecially in the Indian market, amazing results have been achieved. So, how did he do it?
Alipay in China
Alipay, a subsidiary of Alibaba GroupSince its inception in 2004, it has undergone a transformation from a small-scale project to the global financial giant it is today.
Alipay was originally only an internal project of **, aiming to ensure the smooth flow of transactions, and its name "Alipay" not only echoes **, but also implies the concept of "guaranteed payment".
In the initial stage, Alipay faced many challenges, including how to win the trust of users and how to solve payment security problems, how to improve user experience, etc.
However, through continuous technological innovation and optimization, Alipay has gradually overcome these difficulties, continuously improved its service quality and user experience, and laid a solid foundation for future development.
Entering the expansion stage, Alipay began to get involved in other areas, such as supporting the top-up of more bank accounts, thus expanding its market share.
In the process of development, Alipay actively cooperates with major banks to vigorously promote mobile payment and implement a series of effective market strategies.
The implementation of these strategies has brought significant resultsAlipay has gradually integrated into people's daily life and become an indispensable part.
From 2008 to 2012, it was Alipay's leap period, during this period, Shanghai took the lead in using Alipay to pay utility bills, which not only greatly improved Alipay's user experience, but also brought huge development opportunities for Alipay.
Alipay has seized the opportunity of the market and launched an innovative payment functionThis feature greatly improves the convenience of payment and brings a better experience to users.
Not only that, Alipay also continues to introduce new services and features, such as Huabei and Yu'e BaoThese products further consolidate Alipay's leading position in the field of mobile payment.
Since 2013, Alipay has continued to grow and develop, successively launching a series of new functions and services, such as credit, wealth management, etc., to provide users with a full range of financial services.
The launch of these new services not only enhances Alipay's market competitiveness, but also brings more convenience to usersLooking forward to the future, Alipay will continue to uphold the spirit of innovation and provide users with better services.
Since its establishment, Alipay has gone through the process from start-up to maturity and has become the world's leading mobile payment platform. Looking ahead, we have reason to believe that Alipay will continue to lead the development of mobile payment and bring more convenience and value to users around the world.
Alipay, India
Paytm, founded in 2010 as a mobile top-up platform, has grown into the Indian version of "Alipay", whose services cover digital payments, digital wallets, insurance, credit and other aspects, and about half of the Indian Internet users are its users.
With its notable achievements in the field of fintech,Paytm's IPO became the largest in the history of the Indian capital market, surpassing the record of the 2010 Indian coal company.
In 2015, Ant Group made the first round of investment in Paytm, and in 2017 and 2018, it finally became the largest shareholder of Paytm.
In order to expand its business, Paytm revamped its system architecture, improved its data capabilities, and developed a series of application scenarios by local teams to meet the daily needs of Indians.
With the continuous expansion of the business, the number of Paytm users is also growing rapidly, from more than 20 million users at the beginning, to 1500 million, and then exceeded 200 million, becoming the third largest e-wallet in the world.
In 2016, Paytm made a major breakthrough in the Indian market by successfully obtaining the first payment bank license issued by the Reserve Bank of IndiaPaytm is able to carry out a full range of banking operations in India, including payments, savings, remittances, transfers, etc.
This not only opens up huge business opportunities for PayTM, but also provides low-cost financial services to small and micro enterprises and low-income families in India to help them achieve financial inclusion.
In multiple rounds of funding, Paytm has attracted the attention of many investors, including Ant Group, which has participated in four fundraisings, especially at the end of 2019, when Paytm successfully completed a $1 billion Series E financing.
Ant Group's total investment in Paytm is about 2.9 billion yuan, with a shareholding ratio of 3033%However, it was previously reported that Ant Group plans to ** its stake in Paytm.
In response, Ant Group responded that they will continue to support the development of Paytm and are committed to promoting cooperation between the two sides in digital financial services, but in 2023, Ant Group will be 103% of Paytm's shares, using the proceeds for other purposes.
Paytm's parent company, One97, has generated revenue in the past few years as follows: 22 in 2017, 2018, 2019 and the first half of 20204.2 billion yuan, 34300 million yuan, 321.4 billion and 280Rs 200 million.
In the Indian market, Paytm plays a pivotal roleIt has a 50% market share in the in-store payment (P2M) segment in India, making it the most integrated payment provider in India's fintech sector.
Especially in India's third-tier and lower markets, Paytm's influence is particularly significant, and both merchants and consumers are quite satisfied with Paytm.
There is no actual controller
Recently, a news about Alipay's change to no actual controller has attracted great public attention, which is not only a major change for Alipay itself, but also has a far-reaching impact on the entire Chinese financial systemBut what does that mean exactly?Why?
What is "no actual controller", in simple termsThis means that there is no single entity or individual in the company that can have a decisive influence on the company's operations and decisions.
Such a company usually has a decentralized shareholding structure, and no single shareholder can control more than half of the shares, so there is no controlling shareholder.
Moreover, the voting rights of the company's shares are also relatively evenly distributed, no shareholder can actually control more than 30% of the voting rights, and there is no individual in the company's board of directors and senior management who can control the company's major financial and operational decisions alone.
Alipay's change is part of a restructuring of its parent company, Ant GroupAccording to the announcement of the People's Bank of China, Alipay (China) network technology*** has been changed to no actual controller on December 29, which not only has a profound impact on Alipay itself, but also affects affiliated companies such as Hang Seng Electronics and Cathay Pacific Property Insurance.
In China, the third-party payment industry has been subject to strict supervision, and the reform of Alipay is undoubtedly to better comply with relevant regulatory requirements, improve the protection of user rights and interests, and prevent and control financial risksIt is understood that the implementation timeline for this change has been set and aims to ensure the smooth running of the entire process.
So, what impact will this change have on Alipay?It may change Alipay's business operating model, and since there is no longer an actual controller, the company's decision-making process may become more democratic and transparent, helping to guard against potential risks.
This change may also bring potential benefits to Alipay, such as a more level playing field, the safety of consumers' funds, etc.
But another public concern on the matter is: Will Jack Ma say goodbye to the business arena once and for all?Although Jack Ma's influence is still far-reaching, the change in Alipay does not mean that he will completely withdraw from the business world, on the contrary, it may simply be an adjustment of the company's governance structure to adapt to the changing market environment.
Alipay's change to no actual controller is an important change, which not only meets China's relevant regulatory requirements for the third-party payment industry, but also helps to improve the protection of user rights and interests, prevent and control risks, as for whether Jack Ma will completely exit, this is still unknown.
But what is certain is that regardless of Jack Ma's future direction, this change in Alipay will have a profound impact on China's financial landscape.
Jack Ma's international gaze
Under the wave of globalization, Alibaba founder Jack Ma relied on his outstanding vision and grand patternSuccessfully led Ant Group to emerge on the international stage.
Especially in the Indian market, Ant Group's layout not only shows its influence, but also injects vitality into the development of local fintech.
India, a huge market of more than 1.3 billion people, is gradually showing its huge potential, and Paytm, as a leader in the Indian market, has become the country's leader in the payment sectorIts successful listing is a testament to the dynamism of the Indian market and Paytm's position in India.
Founded in 2010, Paytm initially focused on mobile top-up and bill payment, and has since grown into a comprehensive platform covering e-commerce, digital payments, financial services and more.
Ant Group's internationalization strategy is not limited to a single market, but also by investing in and supporting payment instruments in other countries to achieve mutual benefit and mutual prosperity.
Paytm's success did not happen overnight, and its growth in the Indian market has benefited from the acceleration of India's digital transformationWith the popularization of smartphones and the access to the Internet, more and more Indians are beginning to enjoy the convenience of digital payments.
Paytm's business scope covers digital payments, financial services, e-commerce, etc., and its user base continues to expand, providing strong support for the digitalization of the Indian economy.
On the international stage, Alipay has fierce competition with the American payment giant PayPalAlthough Alipay far surpasses PayPal in terms of user number and activity, PayPal has shown its advantages in terms of profitability.
This is mainly because PayPal's revenue is mainly based on transaction fees, while Alipay's rates are relatively low. And PayPal occupies a large share in the international **, its service coverage covers more than 200 countries, supporting more than 100 currencies, which is incomparable to Alipay.
Faced with the challenges brought about by PayPal's entry into the Chinese market, Alipay actively seeks international developmentHowever, due to factors such as the most advanced friction between China and the United States, Alipay's internationalization road is not smooth.
To this end, Ant Group has adopted a roundabout strategy to expand the market by investing in payment instruments in other countries, and although PayPal's business is currently mainly focused on cross-border transactions and the US market, Ant Group may rely on its advanced layout in the futureA surprise blow to the American giant.
With its forward-looking strategic layout, Ant Group has not only achieved remarkable results in the Indian market, but also contributed to the development of global fintech.