New business opportunity of simplification -- Yuanxin multi-payment integration

        In the irreversible post epidemic era, the old consumption pattern has been forced to break up and restructure, and opening up a new road in this wave of turbulence is the primary task of the financial industry. This issue of "cover story" introduces how yuan Hsin digital payment integrates multiple payments to create new economic opportunities.

        Search pain points and find integration opportunities

                As the government promotes a "cashless society", banks, department stores, and even communication software have launched their own electronic payment systems one after another. When businesses import a payment tool, they need to build an additional card swiping device to increase their operating costs. In addition, sales personnel must also remember which machine to match different payment systems. They not only need to spend more time on in-service education, but also need to pay at the checkout counter The crowding degree of Taiwan is also gradually rising, resulting in poor consumer experience.

        As the market is scrambling to capture the market share of electronic payment, Yuan Hsin digital payment is going the other way, readjusting its business blueprint, carefully discussing the different technical issues that retail channels may face, and finding the opportunity to develop "multi payment integrated services".

        New thinking and integration threshold

        At the beginning of the development of multi payment integration service, Yuan Hsin digital payment abandoned the large-scale channel market and turned to the neighborhood snacks which were not yet popular in digital, promoting the concept of multi payment from scratch. On the one hand, it helps to set up wireless network equipment to enable small and medium-sized businesses that originally used to use traditional payment to carry out digital transformation. On the other hand, it helps to understand the needs of various industries for diversified payment, and then adjusts the company's integrated service scheme to provide more equipment products that meet the needs of the market. Technically, we should not only measure the system characteristics of each payment operator, but also the integrity and functional compatibility of hardware and equipment. In terms of regulations, we must also abide by the strict regulations of international card issuing organizations and financial services related information security control regulations. Even in the face of various limitations and challenges, the project team still breaks through one by one, and carries out customized construction according to customer needs.

                The traditional single electronic payment trade fair passes through many levels, such as acquiring institution, clearing institution, issuing institution, credit card international organization, etc. the operating cost of each institution will also be reflected in the transaction handling fee and setting fee, which will increase the cost of retail channel, and even become an obstacle to the promotion of electronic payment. Yuan Hsin digital payment's "multi payment integration service" can break through the traditional credit card billing structure, reduce the billing cost of the banking industry, and then effectively expand the range of bank customers with lower service rates, and meet the needs of consumers' multi payment types. At the same time, it can help businesses save unnecessary operating expenses with an integrated machine.

        In a word, the core of the overall plan is to "simplify". It seems easy, but it is technically challenging because of the "integration threshold". In general, the integration projects of acquiring bank or electronic payment are mostly limited to the integration of single payment operator or channel system This paper discusses the scope of "payment" deeply, and holds that the payment behavior should be extended to the functions of member service, accumulated points and transfer, so that consumers can enjoy the member service more conveniently while paying, and even support many functions such as friends' bill splitting and settlement.

        In addition to integrating credit card and membership services, Yuan Hsin digital payment is also an important part of retail payment Further research on how to help gift certificate issuers reduce the cost of issuing and management, and even link the platform of enterprise welfare committee, and connect B2C, B2B and B2B2C service modes, so as to provide more diversified application and flexibility for gift certificate issuers and customers, and truly integrate "gold", "point" and "coupon".

                Accumulate experience, refine and integrate energy

        After the "multi payment integration scheme" received a warm response in the traditional old streets and night markets, Yuan Hsin digital payment pulled its target back to the large retail channel. Fortunately, the retail system of Far Eastern Group is well developed. Since September 2019, the project team has cooperated with the "forward looking infrastructure design plan" of the Ministry of economic affairs to implement the action payment integration plan in Far Eastern Department stores all over Taiwan and far eastern big city shopping malls in Hsinchu. Moreover, in October 2019, it will stand out from many competitors and win the favor of quanlian welfare center, a chain supermarket in Taiwan. It will help quanlian build diversified payment services on a single device and integrate related accounting services. It not only integrates more than eight payment instruments, such as credit card and financial card, but also wins the "Golden Peak Award for outstanding enterprises of the Republic of China - Top Ten Outstanding commodities Award". In addition, affected by the epidemic in 2020, the concept of epidemic prevention promotes the rapid rise of zero contact business opportunities, and the government vigorously promotes the popularization of mobile payment policy. As a result, consumers' willingness to use cash transactions has declined a lot. The project team Therefore, we should seize the opportunity to accelerate the promotion. In July 2020, we will introduce the multi payment integration scheme into the group's wholesale channel, a.mart's Taiwan Branch, and successfully change the operation structure of a.mart. In the future, we will continue to promote it to other department stores to expand the comprehensive effect of the group.

        With the advent of the era of "finance", many financial related industries are scrambling to share the pie of digital payment. The success of the "multi payment integration solution" in the market depends not only on the innovative integration technology of the project team, but also on the team's efforts to accumulate field experience, listen to users' feedback, solve problems in the most efficient way, and improve the quality of service Constantly upgrade themselves. By accumulating bit by bit, we can finally successfully strive for businesses to switch to the multi payment integration platform, which will be the next step for the group in the field of mobile payment.

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