Age of Dreams

The integration and establishment of an industrial chain is not embodied in a company or a product.

For example, the electronic consumer market that Xiao Qi cares about includes Taobao.com and Xiaoyao Mall, which are responsible for sales, Xiaoyao Wallet and Zifubao, which are responsible for fund supervision, and Fairy Bank, which provides credit protection, and Xiaoyao Logistics and Xiaoyao, which are responsible for transportation and storage. Express delivery is a relatively complete industrial chain.

Of course, this is not to say that the industry chain is perfect. Xiao Qi is still trying to add more things to it to make it more powerful.

The square mobile card reader is a powerful weapon added by Xiao Qi.

In June last year, the square mobile card reader started operating in North America. As a result, it has swept across North America in just over a month.

At that time, 12 million small shops and 7 million individuals in the United States applied for the square mobile card reader, and Canada also added 1 million users within a week.

The biggest reason for this popularity is, of course, that the square mobile card reader is free. As long as you fill out an application and after review, the square mobile card reader will soon be shipped to your store or home.

The financial industry in North America is actually very irregular, and it is not an exaggeration to describe it as a flurry of demons.

Every year, there are dozens of times more financial cases in North America than in China.

It's just that China's financial fraud still remains at low-level methods such as phone fraud, while financial fraud in the United States is already superb. I don't know how many smart people have been fooled.

For tools like the square mobile card reader to obtain personal information such as their own credit cards, people are originally very cautious, and it is impossible to use them easily.

But the square mobile card reader is different from other tools. The boss behind it is Xiao Qi. And this idea is Xiao Qi's.

This means that from the very beginning, the square mobile card reader was created by Xiao Qi.

With Xiao Qi's reputation and strength, and the credit of doing what he said and operating honestly for so many years, of course everyone will trust him very much.

To put it bluntly, Xiao Qi's current credibility. It is even more effective than many local governments.

That’s why so many shops and individuals have applied for the square mobile card reader. Otherwise, according to the law of the previous life, the square mobile card reader would not have so many applications in one year.

It's not necessarily a good thing to develop so fast from the beginning.

This is because since August last year, the number of shops and individuals applying for the square mobile card reader has decreased a lot. Until the end of last year, there were only 22 million shops and 32 million individual applications in North America.

Of course, this absolute number is already a lot, but considering the ferocious momentum at the beginning. It seems to be a little bit worse.

As for the reason, it is that the people who believe in Xiao Qi the most have already applied at the beginning, and those who joined afterwards have seen the convenience, convenience and cheapness of the square mobile card reader before joining.

The management of the square company are professional elites hired by Hoffman. It has been expected for a long time.

So whether it was the boom in the beginning, or the a little deserted in the next few months. None of them changed their work attitude.

On the one hand, they continue to strengthen the confidential service of the square mobile credit card reader as much as possible, and on the other hand, they actively communicate with businesses, individuals and banks, so that the entire credit card system can be more integrated into people's living environment.

The most important thing about a card reader is its secrecy.

If the user's identity information and bank account secrets are leaked out, it will undoubtedly be a disaster, and the entire square will be destroyed.

So in the square company. There are at least more than 20 engineers who are writing new password codes day and night, so that the dynamic password of the square website can be changed at any time, so that it will not be cracked by hackers.

In this regard, some of Xiao Qi's super hacker friends. Also contributed a part of his own strength.

They have already earned a lot of money from the royalties of the fairy system. The two years of life have been very moist, and they can live in the sun, so they are also very grateful to Xiao Qi.

For example, the security measures of square mobile credit card readers are not difficult in their opinion. The key is to prevent network attacks, and because all transactions are processed through the square website, so as long as square is properly guarded The company’s website can block hackers’ attacks.

To this end, they have devised several schemes for the engineers to take turns to deal with, and they also guarantee that another batch will be replaced in three years, which prevents other hacker attacks to the maximum extent.

After handling the password service, the next step is to link up with the bank's procedures.

The reason why the square mobile card reader is able to make a good reputation is that it is Xiao Qi's company. In addition to the square mobile card reader is free, the more important thing is its charge.

From the perspective of credit card swiping, you consider that the penetration rate of credit cards in developed countries is higher than their education penetration rate, and ordinary people have at least two or three credit cards, so you can count how prosperous the entire credit card market is.

Americans alone have more than 1 billion credit cards, Canadians have more than 100 million credit cards, and there are more than 3 billion credit cards in Europe.

Even South America, where the economy is underdeveloped, has more than 3 billion copies.

So many credit card users have also spawned many credit card giants, such as visa, mastercard, jcb and so on.

They are 3% 5% for small businesses and 1% 1.5% for large businesses. Almost everyone has an offensive and defensive alliance to make users' money together.

The square mobile card reader only charges 15 cents plus 2.5% handling fee for each transaction. Manually inputting the credit card account and password is 15 cents plus 2.75% handling fee, which is not high.

Therefore, the emergence of the square mobile card reader has changed the situation of high credit card handling fees.

Naturally, it is Xiao Qi's hard-core ally Citibank that provides banking support for the square mobile card reader.

In the beginning, Citibank was the clearing bank of the square mobile card reader, so the square mobile card reader was first added. Most of them have Citibank accounts.

Also because of the back of Citibank, people have more trust in the square mobile card reader. It is indeed convenient to use, and naturally they prefer to use it.

After such a short half a year, everyone saw that the square mobile credit card reader not only did not break down, but it was doing it steadily. Suddenly came interest: oh ho, this company hasn't been overthrown by many big credit card alliances? It seems that Xiao Qi really wants to seriously build a new online credit card software company!

Since we are not worried about the collapse of the square mobile credit card device, and because it has a very low handling fee, ordinary people are not rich people, of course, if you can save it, you can save it.

So from the beginning of 2010, the square mobile card readers began to flourish again, and spread directly to South America.

Everyone knows that people in South America are more enthusiastic and unrestrained. To put it bluntly, they are also more lazy and greedy to enjoy. It's not much better than Southeast Asia.

But their resources are very rich. For example, Chile is the largest copper ore producer, Brazil is the largest iron ore storage country, Argentina is the world’s largest beef cattle producer, etc., so their lives are usually better.

In such an environment, people are still very keen on consumption, and credit cards are of course very popular here.

The square mobile card reader is such a cool product, and it allows them to reduce their expenses. This naturally won their welcome, and within half a year it has become the company with the largest market share in Brazil, Paraguay, and Mexico. Greatly surpassed the two giants jcb and visa.

In half a year, it took decades of hard work by others directly, and the momentum of the square mobile card reader is simply breathtaking.

Citibank, which provides banking support for the square mobile card reader, is naturally a great success here. There are more than 7 million new account users in these three countries alone, which is the sum of their previous two years.

Among them, the circulating funds are deposited in Citibank. It is even more than hundreds of billions of dollars. This huge amount of precipitation funds is enough for Citibank to subsidize too many losses. Of course, the interest that Citibank should give to Square is still to be given.

With the successful experience of North America and South America. The development of the square mobile credit card device in Europe is naturally just as bad.

Starting in June, the British company square was established.

In August, the German square company was established.

In September, the French company square was established.

By the end of October now, the number of European shops and individual users of the square mobile card reader has exceeded 39 million, which is even more fierce than the original momentum in the United States. At the same time, the total global users of the square mobile card reader has exceeded. 380 million!

Calculated based on this number of users, from North America to South America, and then to Europe, the square mobile card reader has only taken more than a year, and it has become the fifth largest credit payment company after the four major credit card groups!

And square company has started small-scale profitability since August.

Considering that the total number of credit card users in the world exceeds 3 billion ~www.readwn.com~ and a user usually has two or three credit cards, such a large market size, even if the square mobile card reader only occupies 1 billion users , That year at least can earn more than 10 billion US dollars!

This means that in the future, Square will become a golden doll, bringing a steady stream of wealth to Xiao Qi!

I don't know how many people envy and hate Xiao Qi's idea.

I don't know how many people are eyeing square mobile card readers and want to get a share of it.

In July last year, jcb's offer to Xiao Qi was a wholly-owned acquisition of US$1 billion, but now mastercard has offered a price of US$30 billion for the acquisition. The specific method is a part of cash and a part of mastercard’s share payment. Such a valuation increase , It is also hard to imagine for those old-fashioned business people.

The Internet age is the era of creating wealth miracles! (To be continued.)

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