The Millennium Semiconductor Survival Guide.

Chapter 44 NewPay
Zhou Xin showed a look of astonishment, what Riot Games, what are you talking about, did I tell you that I want you to be the CEO of Riot Games?
He figured Warren Jensen had misunderstood it.

"Sorry Warren, Riot Games now has a CEO, and I want you to be the CEO of NewPay.

This is a company I just recently founded, focusing on the field of electronic payments.

At present, the product itself has been completed, but we only have technology at present, and the structure of the whole company is still very shallow.

It needs someone with enough experience to lead it to grow. "

Electronic payment is a concept with a very long history, and now the electronic payment in our concept is more mobile payment.

Electronic payments can be traced back to the electronic funds transfer system introduced by the Western Union Telegraph Company in 1871.

At that time, China was still in the tenth year of Tongzhi, and the first telegraph waterline was installed in China by England, Russia and Denmark.

Warren Jensen was deeply impressed by the electronic payment system developed by Riot Games.

Because they pioneered the SMS verification code to confirm the authenticity of the transaction.

But this does not mean that he is optimistic about NewPay.

However, Warren did not refuse too quickly, and it is time to listen to the other party's idea of ​​NewPay.

Now Zhou Xin is the most famous product manager in Silicon Valley, and his experience is also talked about by many people.

Especially as the scale of the fist game is getting bigger and bigger, many details have been exposed before.

Including the interns who entered Microsoft as an intern with Zhou Xin at that time, they spoke out through traditional media, saying that Zhou Xin had worked at Microsoft in the name of a product manager intern.

Zhou Xin's pioneering ideas on products made Warren interested in listening to the other party for a while.

At first, Zhou Xin wanted to call it AliPay, so he took the name of Alipay.

Later, when I thought about it, it wasn’t necessary. If it’s mainly not for playing tricks, the name alipay is actually meaningless.

A good name is very necessary in the promotion process.

NeyPay is good, symbolizing a new payment method.

Concise and concise.

"NewPay? There are many electronic payment companies in Silicon Valley.

After the popularity of electronic shopping, everyone thinks that electronic payment will give birth to the next Amazon and the next eBay, but IMHO, it is very difficult for NewPay to succeed.

I believe that NewPay can solve the problems of information security and compliance, but NewPay lacks application scenarios.

Amazon has its own electronic payment system, and eBay has PayPal behind it. It is difficult for Amazon and Ebay to accept NewPay as one of their payment options. "

Yes, the reason why Paypal can become the payment software with the largest market share in foreign countries in later generations is that their backing of Ebay is a very important factor.

But that's not the only factor, and if it was the difference between success and failure, Amazon's payment software wouldn't go unnoticed.

Backed by Apple, ApplePay has a market share of less than 1% in China.

Therefore, whether there is a sufficiently large payment scenario behind it is very important, but this does not guarantee success.

These are the cases that Zhou Xin is familiar with. They all come from many years later and cannot be directly exemplified. After a short thought, he said:

"Whether it's Ebay or Amazon, they do more physical shopping, that is to say, after paying online, they receive the physical product offline.

The way NewPay will go is to occupy the market of virtual items.

At least all games of Riot Games will be released through NewPay, and we need to seize the market for other virtual item shopping as much as possible.

For example, various offline payment scenarios.

In order to guarantee initial users, we will give users who buy video games on Riot Games and use NewPay payment method for the first time, a discount of between [-]% and [-]%.

Subsequent users will be given a discount between [-]% and [-]% as long as they pay with NewPay.

Now Riot Games charges 30% of the revenue for game makers who want to publish through Riot Games, which is equivalent to subsidizing NewPay with part of the revenue from Riot Games during the promotion stage.

Of course, this is also a way of promotion for Riot Games. "

For a long time, the market for virtual payments will not be much less than physical payments.

Due to problems in the logistics system and concepts, e-shopping is growing rapidly, and virtual payment is growing even faster.

Especially after the massive popularity of online games, paying for free online game items is a characteristic of Huaguo, which does not mean that there are no similar games abroad.

It's just that foreign countries have not gone as far as their counterparts in Huaguo on this road.

After listening, Warren thought for a moment and said: "I admit that your method is feasible.

But even so, the market that NewPay can occupy is still a very small part. "

Zhou Xin is a little speechless. If NewPay can naturally occupy a large market, then why should I ask you to be the CEO?
You must know that the chief financial officer of Amazon must give option incentives.

I offer you such a high salary because I hope to use your experience and your contacts in the financial field to help me expand my business.

This kind of thing can be said, but it can't be said so bluntly.

"I already have a complete expansion plan for NewPay. After you come, you only need to be responsible for the actual operation of the company, and you need to use your contacts to open up some Internet service providers' electronic payment channels.

Subsequent Riot games will launch some richer Internet services.

It's definitely not just the purchase of video games that can be paid electronically. "

After talking with Zhou Xin and returning home, Warren felt moved.

Because from Zhou Xin’s description, NewPay is a newborn baby, which means that he can deeply participate in the operation of NewPay as CEO.

Backed by Riot Games and Zhouxin, it also proves that it at least has its own living space, which means that NewPay will not go bankrupt as easily as other start-ups.

At least there is no shortage of enterprise stability and development space, and his experience as an expert in finance, combined with management experience in the field of electronic payment, is undoubtedly beneficial to his career.

The more executives, the more they understand the importance of career planning.

At least jumping to NewPay is not a bad move for Warren.

After getting involved in the field of electronic payment, Zhou Xin has a clearer understanding of his own shortcomings, which is the lack of people under his command.

He has no shortage of good ideas, and now he does not lack the funds to realize good ideas, but he lacks people.

Especially in the field of electronic payment, this is a very complex field, and it is necessary to break through the tedious links in the upstream and downstream of various industries, from regulatory agencies to card organizations to banks and users.

While fighting against hackers, it also faces direct competition from countless opponents.

Zhou Xin only knew about PayPal at first, but after in-depth investigation in this field, he found out that eBay originally had its own electronic payment system called Billpoint.

It is because Paypal's good service has won the Ebay market, and now Ebay has not acquired Paypal.

The importance of electronic payment has not yet become a consensus, which means that NewPay has the opportunity to become one of the payment options for Amazon and eBay.

Although it is difficult, it does not mean that there is no opportunity.

(End of this chapter)