Payment software? Kirilenko doesn't understand. Isn't there online banking? Why are we developing payment software? To sell it to the banks?
Feng Yu saw Kirilenko's puzzled look and explained. "Brother Ki, there are two payment models in our eCommerce, right? One is to pay for the order online and deliver the goods. The other is to place an order and pay on delivery, right? "
"That's right. One is bank transfers, and the other is cash. What is the payment software you mentioned?"
"The payment software I mentioned is called a third-party payment platform. It is also a credit intermediary. Look at our current payment method. If we pay for the goods on delivery, it's easy for the other party to return the goods. Then, not only will we lose the transportation fees, but it's also easy for the goods to be overstocked. This method is the only way to attract customers and increase our reputation.
"If we use online banking to pay for the goods, we will not be able to return the goods if the goods are not the same as the ones we bid for. What can you do when the other party had already paid for the goods? It will be troublesome to get a refund, and the customers will be worried that they will not get their money back. "
"At this time, we need a third-party payment platform, which is the payment software that we developed ourselves. The buyer will pay us, and we will inform the seller to deliver the goods. After the buyer receives the goods and confirms the goods, we will transfer the money to the seller's account. During this period, we will form a credit guarantee. "
"If the buyer thinks there are problems with the goods, he can lodge a complaint. After the website verifies that the money was not paid to the seller, it will be easier for the buyer to get a refund, and the seller will not refuse to pay. This is a payment platform that provides more protection to the buyer and can increase the website's credibility. Also, it can replace cash on delivery and avoid wasting shipping fees. The buyer must return the goods to the seller before getting their money back. This way, the seller will not suffer any losses. "
Kirilenko understood what Feng Yu said and asked. "Then why should the other party trust you? Even if you want to be a credit intermediary, you must also have a good credit record. "
Feng Yu points to Kirilenko and then to himself. "We are trustworthy. We will be the guarantor for this third-party payment software. Our net worth is enough to make our clients believe that we won't cheat them of their money. And if their money is cheated, we can afford to pay for it. "
"We will be the guarantor?" Kirilenko didn't think of this, but after thinking about it carefully, it seemed to make sense. No one will think that Feng Yu will cheat his clients of their money. The current user traffic was not big at all. Even if there were a million orders a day, and each order was at most a thousand USD, that would be a transaction value of one billion. Either one of them could easily afford to pay for the loss.
"That's not right. Feng, will the banks agree to this?" Kirilenko suddenly thought of a problem.
"You have to discuss this with the bank. We are providing a guarantee and will not take any profits. Moreover, it will greatly increase the bank's capital flow. Why would they refuse?"
"Wait, we won't take any profits? If we make a credit guarantee, we will need to invest a lot of money, right? Not to mention the development of the software, even the operation of the software required a considerable amount of funds. If we don't take a single cent, are we just going to invest? That will be a huge loss! "Kirilenko looked at Feng Yu. He thought Feng Yu is stupid.
"No, no, no. We will not make any losses. We will make more money through this software. When this software is completed, the future profits might be higher than eCommerce. "
"Let me give you two simple examples. These are simple financial principles. Look at our ordinary banks. You can open an account, and the bank will keep your money safe for you. After that, the bank will still give you interest. Of course, the bank will not make any losses. The bank will use the money to invest, for example, loans, funds, etc. "
"The most important thing here is a debt. No matter if you are depositing or spending money, there will be a ledger, and this ledger is where the biggest profits come from. "
Kirilenko's brain can't handle this. His financial knowledge is nothing compared to Feng Yu. Kirilenko could understand what Feng Yu said at the start, but when Feng Yu said that the ledger is where the biggest profits come from, Kirilenko does not understand.
What profit is there in an ledger? It is only a record. Is this thing valuable? If this is a fake ledger, then this ledger might be valuable to some people. But most of the people here are real accounts. How much is it worth? How could he make money with this account?
"You should know that the US has credit records, right? How do they measure your credit records? Most importantly, it is through the bank's ledger! How much money you have in your account, the monthly inflows and outflows, the amount of loans you have, whether your repayments are on time, etc. You should know all these, right? "
Kirilenko nodded and shook his head. He knew all these, but he still doesn't understand what Feng Yu is talking about.
Feng Yu explained patiently. "The monthly inflows can tell your income. The monthly outflows can tell your spending habits. The most important thing was where the energy flowed out to. Through this ledger, we can see what a person does for a living and what he likes to buy. Of course, we have to do a big data analysis, and the most important thing to analyze is a consumer's habits. "
"Through this ledger, I will know your spending habits, and I will have an advantage in pushing advertisements to you. I can target the advertisements you are interested in, right?"
Kirilenko nodded. What Feng Yu said is true. Many people who want to work with him will treat him to drinks first, especially those he had never drunk before.
In Feng Yu's previous life, many people will notice some Taobao advertisements are related to your spending habits in the past. Even the advertisements on other online shopping websites are related to your spending habits. This is because those websites are using the same third-party payment software.
This is only for the buyer. The seller's side also has a lot of value.
"Another thing is that through this account, we can know which products are selling better, so we can increase the production volume, and because of the increase in production, we can also reduce the cost."
This is the origin of those popular products on the internet in Feng Yu's previous life. Without these data, who knows which products will be so popular? Who dares to produce so many products? Third-party payment software would be able to clearly know which products would become popular.
Kirilenko replied excitedly. "This way, we can increase our website's spending, right? This is really a good thing! "
Feng Yu: "… …"
You are thinking of increasing your spending? Have you ever thought of working with those popular manufacturers? You can also make money by selling this information!
… …
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