Electronic payment is currently the most mainstream payment method. There are three main companies or organizations that can provide us with electronic payment.
Banks, such as Bank of China, etc.
The impact of the centralized depository of reserves in that year on the payment service industry is actually no less than the rectification of our current education and training industry in 2021. In the past, best subscription payment service，this money was managed by the payment institution itself in a dedicated account, so the payment institution tried to attract users to register and save money, which was actually expanding the amount of their own reserve funds.
When the payment institution has this large deposit, it is conceivable to make a profit by investing in some stable income with lower risk. After 2017, the funds of all corporate users will be consolidated into the central bank's reserve account, and we will be given a certain low interest rate.
But I think that the unified provisioning can first ensure the safety and stability of payment institutions and avoid some financial incidents caused by bankruptcy and loss events. Second, the payment data of the direct connection model is out of the supervision of the central bank and must return to supervision. At the same time, reducing the profits of payment institutions can transform the mature payment industry from fierce competition to instrumentalization. payment is no longer a matter of competing for more and less, but a matter of convenient services like water, electricity, and coal, charging on demand, facilitating access, and charging part of the fee for profit.
Understanding the reserve account is because the recharge, withdrawal and payment methods of the enterprise payment institution are all based on the information of the reserve account.
We use the following figure to show that through this development process, user A uses a traditional Chinese bank card to recharge WeChat, and user B uses a postal bank card for recharge management, etc. A corporate user may also have multiple bank cards. When the user initiates the recharge and the WeChat payment verification is passed, the corresponding bank will be found and the user's payment amount will be deducted.