Rekindling looking back has been three lives

Chapter 102 A business model that only exists in China

"WTF?"

Wu Chuzhi couldn't believe it.

Having received all the business memories of the parallel world, he has no memory of when Huaguo came up with a unique stable arbitrage model.

Isn't it all the rest of Wall Street's tricks?
Seeing this, Svensson was also amused, "It's normal that you don't know about this. If it wasn't for my students who wanted to vote for this project, I wouldn't know about it. There is still such a game."

"Old man, hurry up, come and listen."

Wu Chuzhi immediately became interested.

"It's actually very simple. This routine is called Shenzhou Fu..."

Wu Chuzhi was taken aback when he heard the words, why did this thing sound so familiar.

Shenzhou pay?
Is there any connection with Huaguo Mobile's Shenzhouxing?

"I'll tell you a story to see if you can understand it." Svensson laughed.

Because of this model, he didn't understand it at first.

At the end of 2004, as usual, Sun Haitao, the founder of the Shenzhou payment model, and other projects held a DEMO show at IDG.

Seven core partners of IDG, including Xiong Xiaoge, Zhou Quan, Lin Dongliang, and Zhang Suyang, and about 7 other partners and investment managers were present.

When it was Sun Haitao's turn, he spoke for half an hour, and only one or two people in the audience fully understood the model of Shenzhou Fu.

The project was temporarily put on hold by IDG.

Because there is an old saying in investing, if you are not familiar with it, you don’t invest.

There are two possibilities for unfamiliarity. One is that the investor has not been involved in this industry, and the other is that the investee has not explained the project clearly.

His student Zhang Zhen was also among them. Although he didn't fully understand it, he thought this local business was interesting, so he introduced it to him.

Swensen came to Huaguo specially for this purpose, asked Sun Haitao to speak in front of him for an hour, and voted for this project on the spot.

"The prototype of Shenzhou Fu was an unintentional act of a college student named Tang Bin in 2000.

At the beginning of 2000, he made some small software and wanted to sell it online. At that time, online banking payment tools were not yet popular.

Tang Bin thought hard about how to let the buyer pay, not necessarily the money itself, other things are also fine,
A bit of a barter flavor.

But for the exchange, it is best that he can use it himself, and it cannot be in kind, otherwise he will have to receive a courier, which will be even more troublesome.

Finally, he thought of the recharge card.

In 1999, when he just entered university, he bought a mobile phone.

At that time, the cost of calling was still relatively high, and it cost several cents per minute, which was something he could use.

The buyer sends the password of the recharge card via QQ or email. If he recharges successfully, it means that the other party pays successfully, and he can deliver the goods to others.

In this way, both parties save trouble.

Mobile phone recharge cards are also readily available for buyers.

At the beginning, Tang Bin had two or three orders a month, so he used up the phone bill directly.

But when his business got better and better, and he could earn two to three thousand yuan in phone bills every month, troubles came.

How should he cash out this unusable phone bill?
Tang Bin thought that other people in the dormitory also needed to recharge their phone bills, so his classmates, relatives and friends around him became channels for him to cash out.

He didn't need to sell it at a discount, because the students in the dormitory thought it was good to have such a free service. The mobile phone was almost out of charge, so they called Tang Bin, and he helped to recharge it.

So Tang Bin held more than 20 phone lists in his hand.

Boy, do you understand? "

Svensson is actually speaking with a little emotion.

He could actually explain the model clearly, but he decided to start with the story and use the method of a teacher to teach students to guide Wu Chuzhi.

Because of Wu Chuzhi's business talent shown today, he was very depressed.

It seemed that without his presence, Wu Chuzhi would have been able to thrive.

This made him feel a sense of crisis.

As a portable grandfather, he is no longer needed, so what will happen?
In case Wu Chuzhi had an evil thought in his heart and felt that his own existence prevented him from having sex, he could directly burn the incense of that evil sect, and he would be burned in a few days.

Swensen didn't dare to bet, because they were both men and knew each other's thoughts very well.

When the worms come, how can they care about this?
He just wants to strengthen Wu Chuzhi's sense of dependence on him, and use the friendship between teachers and students to delay it for a few months, and wait until his soul and body are fully recovered, and then come to settle accounts with Wu Chuzhi.

Sure enough, Wu Chuzhi took the bait, thinking about it in his heart, and then opened his mouth in doubt,

"I seem to understand this model, which is nothing more than Tang Bin intervening, adjusting supply and demand with his left and right hands.

On the left is the supply of recharge cards provided by software customers, and on the right is the demand for recharge cards.

However, what I didn't figure out was how to operate this model in the company?If there are tens of thousands of recharge cards, where can he find the demand for so many recharge cards?
It can't solve the cashing problem at all.

Moreover, if the recharge card is not sold in time, the supplier can completely reuse the card number and password, and the cost of breach of contract is almost zero.

Father, this model is full of loopholes!

Furthermore, where is the profit point of this model?

The software sold by Tang Bin is worth 100 yuan, for example, and the recharge card is also 100 yuan. There is no difference in price, so where is the profit?

For Tang Bin, only in terms of this model, he has no profit, or his profit comes from the front-end software, and this model is just a tool for him to complete the transaction. "

Wu Chuzhi felt that this matter was completely out of line.

Swensen felt a little melancholy in his heart.

What the hell, this kid is really evil!
In a few words, the pain point of the pattern in the story was found.

As a teacher, Svensson likes to teach the world's best talents.

For teachers, gifted students make them both painful and happy.

However, he is not really teaching students today!
His purpose was to shock Wu Chuzhi.

Svensson was cursing in his heart.

Sure enough, learning from gods is the most annoying thing!

Feeling helpless, Swensen could only smile lightly, "Keep listening."

Wu Chuzhi blinked and blinked, obediently not speaking.

It was not surprising that he often encountered such moments in school.

It was nothing more than the teacher trying to pretend to be aggressive, but was easily resolved.

This kind of thing is common in the key classes of Jincheng No. [-] Middle School.

"In 2003, when Tang Bin graduated from university and joined Sun Haitao's team during the interview, he mentioned this model.

However, it was just an interview topic at that time, and neither side paid much attention to it.

In 2004, Ukiss, a video website run by Sun Haitao and others, encountered the problem of how to charge, and they realized that perhaps Tang Bin’s model was worth considering.

This video site is similar to the current model of 9158. Some girls chat with boys online, and if someone is willing to send roses or the like, they will pay.

They grafted Tang Bin's payment model into it. The user sends the recharge card number and password. If the recharge is successful, the default payment is completed.

Ukiss was eventually abandoned by the team because the business model was not perfect.

But this charging model has been continued by them, because since they can use it, other companies or businesses must also need it.

It took them several months to make the functions more delicate and delicate, and package them into a ready-to-use product called "Shenzhou Pay". After registering the domain name and trademark of "Shenzhou Pay", Sun Haitao went out to discuss business.

He talked to more than a dozen companies, and finally three of them agreed to use their products, namely Jinshan, Lianzhong and a video website.

Shan Shan was the most typical customer of Shenzhou Pay at that time. Their game users recharged through Shenzhou Pay and then purchased virtual items.

Shan Shan doesn't care about how Shenzhou Pay works, he only cares that when he sells something worth 100 yuan, he can get back 70 yuan from Shenzhou Pay, and the 30 yuan is the share of Shenzhou Pay.

In theory, Shenzhoupay has been making money from the start.

After the first taste of sweetness, Shenzhou Fu quickly built a sales team and recruited Vice President Wu Yuhang.

In the beginning, they cast the net widely, and they were not so clear about the real target customers. They only knew that all online companies should have needs.

So the bookstore, video, mailbox and other industries were all swept by them.

After one or two years of operation, they gradually realized, 'Everything else is just a cloud, only the game is real.The game industry is the support for the income of the entire Internet field'”

Svensson paused, and asked jokingly, "Now you understand, don't you?"

Wu Chuzhi rolled his eyes when he heard the words, "Old man, can you finish in one breath? Obviously, in this story, he only solved the supply side, not the demand side.

I am very clear about the source of the supply side. It solves the pain point that Internet cafes cannot recharge on behalf of them, and it also solves the restrictions on certain groups of people, such as minors buying game items. "

Wu Chuzhi finally remembered that this Shenzhou Pay was so familiar, and there was indeed an option to choose Shenzhou Pay for online payment in the memory of Parallel Time and Space.

"However, old man, in the entire business model, what you just said can't form a closed loop. As I said before, what he earns back is phone bills, not cash. How to cash it out?

It is impossible for you to say that they recharge the entire number of accounts and then go to the business hall to get a refund, right?

Such a large amount, isn't this illegal finance?Even if you can't be convicted, Mobile is not a fool. After knowing this mode, you can bypass them and do it yourself. "

Swensen was helpless, he knew that he would not have taught him so many things some time ago!

He said half of what he said, so he had no choice but to continue, "You are right, so far, this business has not yet completed the real closed loop.

Because game users buy items with mobile phone bills, Shenzhou Pay needs to verify whether the payment is successful at the first time, so it is necessary to charge the phone bills to the mobile phone as quickly as possible.

That is to say, what Shenzhou Pay receives is phone bills instead of cash.

At first, Sun Haitao bought 100 mobile phone numbers, and as long as someone submitted the recharge password, he would recharge these 100 numbers.

Over time, a mobile phone number can have tens of thousands or even 1 yuan in call charges.

Still the same old question, how to cash out such a large amount of phone bills?
For a company, this is a real conundrum.

They thought of the SP company in their hands.

By providing mobile game services such as Java games, SMS games, Wap games and MMS games, SP companies can charge users.

However, the operator will withhold the fee, and finally the operator will take the commission and bad debt expenses, and then settle the bill to the SP company.

This became Sun Haitao's first cash-out method.

In other words, Sun Haitao used these 100 accounts to play his own SP game through various means, and the operator successfully deducted the fee, taking away the due 21% share ratio and the required bad debt ratio of 6% and taxes.

For every 100 yuan, Sun Haitao can get back more than 73 yuan.

In any case, this is a channel that can realize the call fee, and there is still money to be made, but the gross profit is very low.

Because Shenzhou Pay had to pay 70 yuan to game companies such as Jinshan, but only 3 yuan was put into my pocket in the end.

That is to say, the original share of 30 yuan with the game company, because it needs to be withdrawn through the SP business, the loss and cost are as high as 27 yuan.

In this case, they began to build a right-hand phone top-up system.

There is a principle that must be considered. They cannot re-make the recharge passwords collected into cards for sale.

Because this password is submitted by the game user, if Shenzhoupay is resold to someone else, it is impossible to verify who used the password in the end, so there is a certain risk.

Therefore, they must formulate a system and method. There must always be a large number of mobile phone numbers waiting to be recharged on the right hand side. Once the left hand has a password submitted, it must be recharged to the right hand user immediately to verify whether the left hand has paid successfully.

Because left-handed game users cannot wait, otherwise it will affect his game experience.

The key is that they need to find a large number of mobile phone numbers to be recharged.

The bank's online shopping mall is one of the ways for them to monetize their phone bills.

In 2008, the only best-selling product in ICBC's e-mall was air tickets, and Shenzhou Pay's phone bill recharge product quickly gained popularity after entering the market.

During the peak period, their phone charges accounted for about 40% of the total transaction volume of the mall. "

Wu Chuzhi curled his lips when he heard the words, "Stupid! How big a problem can the exchange of points in the electronic mall solve?

The supply side of this model, because of its characteristics, has a very reliable and fixed crowd. "

Swensen has given up on teaching, and has turned into two people discussing each other, "Let's hear it?"

Wu Chuzhi chuckled, "I now understand why you said it is a unique model in Huaguo, and it does have a long-term market in Huaguo for at least 15 years.

First, from the perspective of age, the two age groups under 18 and over 40 are the main user groups of Shenzhou Pay.

Most minors under the age of 18 do not have their own bank cards, so they do not have the ability to pay online;
People over the age of 40 are relatively less accepting of new things. For them, they want to pay when playing cards, and mobile phone recharge cards are a convenient payment method at their fingertips.

The second is payment security.Most of the places where heavy game users play games are either in Internet cafes or at home.

However, many people who play games in Internet cafes will not easily use online banking for payment because they are worried about being phished or infected with Trojan horse viruses.

In contrast, the technical security of recharging with phone bills is relatively high. Even if there is a mistake, the loss is the single recharge amount.

Another layer of security means that many users like to play games in a stealth way, and do not want to leak their personal information, so they will also choose phone recharge cards.

This determines that the supply side of this model is very massive, and it is not enough to digest this part of the supply by relying on the exchange of the bank's electronic points mall.

And in this model, if you want to make money stably and run smoothly, the demand side must be greater than the supply side, so that you can meet the timeliness of game customers. "

Swensen nodded, "If it were you, what would you do?"

Wu Chuzhi thought for a while, "It's very simple, what you said is a unique model of Huaguo, which cannot be replicated.

I guess the biggest piece of demand comes from enterprise, large enterprises.

Because the invoice management system is unique to Huaguo, the bank settlement system in foreign countries is very developed, and there is no need for invoice flow.

These companies will give employees a certain amount of phone bill reimbursement every month, but require employees to print invoices by themselves, and then submit them to the financial audit.

After they cooperate with Shenzhou Pay, they only need to submit the mobile phone numbers of all personnel, as well as the monthly recharge amount of each person, and pay Shenzhou Pay on a monthly basis.

For these enterprises, there is generally no specific time for recharging, as long as the recharging of employees' phone bills is completed every month.

And, you know my situation, I was able to get into the business very quickly, so for me, it was the fastest way to make money. "

After Wu Chuzhi finished speaking, he felt a little melancholy, it was the beginning of another bowl of soft rice.

It's very simple, Qin Wan's father can help him break the situation.

There are more than 1000 people in the design institute, and the average call fee for each person is 100 yuan per month. This is about 10 yuan in revenue. According to a 30% gross profit rate, a monthly profit of 4 to 5 yuan cannot be lost.

And Qin Yuanchao also has a lot of contacts in state-owned enterprises. This model is indeed suitable for large enterprises, and it can reduce troubles for enterprises in a legal and compliant manner.

Whether it is a company or an employee, it is all a dream.

And other companies are naturally easy to persuade when they see that they have a pilot, and they will even take the initiative to follow suit. After all, invoices are indeed a troublesome thing in China.

Wu Chuzhi came to do this model, and he has a natural start-up advantage that the founder of Shenzhoufu did not have.

Swensen smirked, he knew what Wu Chuzhi was thinking, "Boy, soft rice is also a kind of ability, take good care of your face."

Wu Chuzhi shrugged his shoulders helplessly, "Tell me, is there any other way? I don't believe that Shenzhou Pay will be able to open the door to large enterprises from the very beginning. There must be other ways."

"Of course, a large number of offline individual customers are also their target group. At first they wholesaled them to recharge card agents with lower discounts to accumulate customer base.

Newsstands and small shops at the entrance of the community are their terminals. A computer, a set of Shenzhoupay software, and a 5000 yuan advance payment can get a mobile interface provided by Shenzhoupay.

When someone comes to recharge, the newsstand enters the website of Shenzhou Pay, and enters the mobile phone number and amount to complete the recharge. "Swensen said with a smile.

But this is a bit tasteless for Wu Chuzhi, he held Wang Zha at the beginning of the game, and he couldn't finish it just from the enterprise side.

Even after the model is released, Yamen will be his client.

More than 8000 million government officials, 100 yuan per month, is 80 billion demand, 960 billion a year, how big is the online game market now.

"Boy, in fact, I think that as long as you seriously implement this model, the payment system can be implemented."

……

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(End of this chapter)