Winning the new financial era

Chapter 89
After Hu Gang's operation, Ruixiang's investment in Hantai Fund was approved by the China Securities Regulatory Commission, and it officially became the second largest shareholder of the fund company, accounting for 49% of the shares.

2 Internet small loan licenses, 1 insurance agency license, 1 fund sales license, plus half a public offering fund license, basically all the financial licenses required for the next development have been obtained by Ruixiang.

With the license in place, Ruixiang also began to develop financial products under Zhang Yida's will.

The first is the insurance supermarket and fund supermarket segment. Like the loan supermarket, it has access to the products of many external insurance companies and fund companies.

Ruixiang Technology is responsible for diversion, insurance companies and fund companies provide financial services.The purpose of this is also very simple, to provide users with richer and more comprehensive financial products, which users can freely choose to purchase.

The two Internet microfinance licenses serve as the operating entities of "Touronghui Wallet" and "Touronghui IOU".

Touronghui Wallet is an "offline consumption installment" product, and Mung Bean Credit provides reference data, and selects the first batch of 10 users with the best qualifications from the sharp group's hundreds of millions of users to open the quota.

This amount cannot be withdrawn in cash, and can only be used for consumption at offline cooperative merchants of Mobao Pay.The amount of consumption can be repaid in 3, 6, and 12 installments, and the interest rate ranges from 12% to 24%.

Mung Bean Credit also provides a white list of users for investment and financial exchange IOUs, and 10 places will be opened in the first phase.

The daily loan interest rate ranges from 1.5 to 6/[-], and the risk pricing is different according to different customer qualifications.

You can borrow in installments of 3, 6, 9, and 12 months, or you can repay in advance, and the interest is calculated on a daily basis.

All lending funds are provided by 2 Internet small loan companies, each of which has deliberately increased its registered capital to 3 million.

With 6 million funds and 20 credit users, it is reasonable to say that the average credit is 3000 yuan.

But it is impossible for all users to borrow money in the same period of time.Therefore, the credit limit has been doubled, and the average credit limit for each user is 6000 yuan.

These 20 users are the best-qualified users selected by Ruixiang Jinke Group from hundreds of millions of users, and the company's own funds are used to lend.

The early stage is an observation period to observe whether there are any loopholes in the product, as well as the user overdue rate and bad debt rate.

After all the processes are on the right track, the two Internet microfinance companies under the Ruixiang Group can introduce funds from licensed financial institutions such as banks, trusts, insurance, and consumer finance to jointly issue loans.

Hantai Fund Co., Ltd. and Ruixiang launched a currency fund, "Change Money".

Lingqianbao was put on the shelves in the most prominent position in the major APPs of Ruixiang, and began to attract users with all its strength.

As a monetary fund, it can be withdrawn and deposited at any time, which is quite convenient, and the rate of return is not worse than that of Yu’ebao, which fluctuates between 4% and 5%.

Once launched, it immediately triggered a panic buying frenzy.

……

When Ge Erping went shopping in the supermarket today, he found that he forgot to bring his wallet, and the money in the bank card was only used to repay the credit card, and the funds had not been replenished in time.

Ge Erping was a little anxious, and the aunt at the cash register said mercilessly:
"Standing for a long time, young man, do you still want to buy it? If you don't buy it, don't block the customers behind."

"I want to buy it, I want to buy it, but I forgot to bring my wallet." With a big smile on his face, Ge Erping hurried out of the way and stood aside.

"Boom" the phone rang, and Ge Erping saw that it was a pop-up message from the Touronghui APP.

"Congratulations, you have obtained a quota of 10000 yuan in Touronghui Wallet, which can only be used by merchants who cooperate with Mobao Payment."

Ge Erping hastily clicked on the message and went in to learn about the product in detail.

"It turned out to be the consumption installment quota!" Ge Erping understood, and Rui borrowed money from the company. The money cannot be withdrawn to the bank card, but can only be used for consumption.

Going to the cash register, Ge Erpingdui smiled and said:
"Sister, do you have any cooperation with Mobao Pay? It's the QR code scanning payment."

"Yeah, it's all here, I don't know which one you're talking about?" The cashier aunt pointed to the rows of QR codes pasted next to the cashier and said.

Ge Erping went over to have a look, there were Alipay, WeChat Pay, and Mobao Pay.

Ge Erping quickly opened the code scanning tool in the upper right corner of the Touronghui APP, scanned the QR code, and a lot of options popped up.

"Balance payment"

"Zaiqianbao Payment"

"Bank card payment"

"Touronghui Wallet Payment"

Ge Erping clicked on the payment option of Touronghui Wallet, and then entered the transaction password, and then it showed a successful payment.

Ge Erping quickly showed it to the cashier aunt to see the successful payment interface, and said excitedly:
"Sister, you can see that the payment was successful."

The cashier aunt quickly checked the statement in the background, confirmed that the payment was received, and nodded to let it go.

Ge Erping cheerfully carried a big bag of things out of the supermarket, humming a little song, secretly said:
"Thanks to the 10000 yuan consumption quota given by Investment Ronghui today! Otherwise, I will lose my life. I'm afraid I need to call someone for emergency."

When he got home, Ge Erping studied the Touronghui APP again, and found that many functions had been added.

"Holy shit, I can still buy funds and insurance. There are so many products!

Hey, there is also a label classification, currency fund income ranking list, hybrid fund income ranking list, stock fund income ranking list...

Insurance is also very comprehensive, car insurance, life insurance, universal insurance, critical illness insurance, minor illness insurance, juvenile insurance..."

Ge Erping found that investment, financing and exchange products are too complete. Except for stocks, basically other financial products are assembled, including wealth management, loans, insurance, and funds...

Ge Erping recharged 1 yuan into the change treasure, and prepared to use it as usual expenses.Otherwise, it will be embarrassing again if you don’t bring your wallet one day and the card is empty.

……

Pang Lei reported to Jack Mahui:
"Mr. Ma, Ruixiang Jinke has begun to deploy wealth management and consumer credit, coupled with personal credit management, and mobile payment, it is almost an all-round imitation of our Leech Financial Service."

Jack Ma waved his hand to indicate that it was okay, and said with a smile:

"The financial market is huge, and we can't do it alone. You just have to remember that as long as we occupy an absolute market share in mobile payment, other companies will not be able to make waves."

Pang Lei nodded and said: "I know Mr. Ma. Almost all the online payment traffic is firmly controlled by us and Penguin.

Ruixiang can only go offline. It is said that the subsidy is very strong offline, which has seized a lot of the market.How do we deal with it?Should we also increase subsidies? "

Jack Ma squeezed his chin, then said:

"Leech Financial Services is backed by Ali, and has a huge e-commerce traffic as a basic platform. Penguin dominates social networking and also has a basic platform.

Rui Xiangnan?If you have raised hundreds of millions of dollars, you don't know how high the sky is.

Let them subsidize, and when they can't hold on, it's time for us to take action and kill with one blow.

Let him force him to be strong, and the breeze blows the hills!
Let him do whatever he wants, and the bright moon shines on the river! "

Jack Ma loves martial arts, so he recited two poems unconsciously.

Pang Lei couldn't stop laughing, this President Ma is very obsessed with martial arts.

She also understood what Mr. Ma meant, which is to let Ruixiang go crazy for a few days first. No matter how many user subsidies there are, it will be a rootless apple without its own basic disk.

Wait until the subsidy stops and the funds can't hold on.It's time for Leech Golden Clothes to enter the arena and fight back.

Reverse thinking, this is Mr. Ma.

Jack Ma said:

"Ari will be listed in the US next month, so we can't just limit ourselves to the domestic market.

Leech Financial Services will start independent financing next year. We need to take a long-term view, and Southeast Asia can also extend its tentacles first. "

Then Jack Ma sighed:

"When Ahri was rising, Amazon had already dominated the world. It missed the best opportunity for development, and the current market can only be limited to this corner of Greater China."

Then Jack Ma's eyes flashed, and he said domineeringly:
"Leech Financial Services can no longer follow Ahli's old path. We miss the opportunity to expand our business to the whole world. Next year we will start our overseas strategy, and the first stop will be Southeast Asia."

Pang Lei was also very excited by Jack Ma's ambition. When the eighteen of them started their business in the villa, Mr. Ma said the same.

The goals and slogans that Mr. Ma shouted back then have all been realized one by one.In the current Leech Financial Services Group, Mr. Ma said that if he can expand his business to the whole world, he will definitely be able to expand his business to the whole world.

On this point, she is convinced.

In Pang Lei's next work, in addition to continuing to consolidate the mobile payment market share of Leech Financial Services online, the offline promotion will continue to follow the established rhythm.

No rush, no increase in subsidies, nor increase in advertising.

Even Zhang Yida was very curious, waiting for Ahri's sniper attack to never come.

Zhang Yida speculated that the giant might be planning a big move, so he let himself dance for two days.When you are tired from jumping, it is time to make a move.

Looking at the financial report paid by Mobao on the table, Zhang Yida was also a little shocked.

"As of August, Mobao Pay has a total of 8 million transaction users, 3500 million account-opening merchants, and a total of 400 million yuan in subsidies."

Zhang Yida made preliminary calculations. By the end of the year, it is estimated that there will be 1 million transaction users and tens of millions of account-opening merchants, and the subsidy will cost at least another 10 billion.

A total of 31 billion yuan was raised in the B round of financing, 8 million yuan was invested in technology research and development, and 8 million yuan was used to acquire financial licenses and daily operations. 15 billion is used for mobile payment subsidies and attracting new users.

All the funds were clearly arranged in this way, and by the end of the year all financing was almost exhausted.

However, if Mobao Pay has 1 million transaction users and tens of millions of account-opening merchants, the valuation of this business will also increase a lot.

Ahri and Penguin are currently mainly focusing on online business development, although offline business is also being developed.However, they still have a tacit understanding with each other, silently developing the market, and have not yet started the subsidy war.

Next year, in 2015, everyone should have almost developed the market.That was the moment when the bayonet saw red.

If Ruixiang had insufficient ammunition during the subsidy war, it is estimated that the market it has developed now will definitely be lost.

Users are very rational, and whoever pays the red envelopes the most and gives them frequently will use whichever product.

The rich man is the father!
Zhang Yida didn't dare to take it lightly, and had already thought of a countermeasure in his mind.At the end of the year, the C round of financing was launched, and all the money raised was invested in the subsidy war.

Other products with multiple lines can only be self-reliant.

Tighten your belt!
Zhang Yida said with emotion.

(End of this chapter)