WeChat Pay, which has enjoyed monopoly dividends, has finally paid the price for its arrogance

Tech 2023-07-01 19:56:39 Source: Network

Yesterday, the news that domestic universities including Zhengzhou University of Aeronautics and Jiangsu Normal University had suspended WeChat Pay hit the hot search. The reason is that since July 1, WeChat Pay will charge 0

Yesterday, the news that domestic universities including Zhengzhou University of Aeronautics and Jiangsu Normal University had suspended WeChat Pay hit the hot search. The reason is that since July 1, WeChat Pay will charge 0.6% of the handling fee (the following figure is the announcement issued by Zhengzhou University of Aeronautics and the notice of WeChat changing the settlement rules).

After the incident escalated, WeChat immediately came forward and issued an apology statement (as shown in the figure below), claiming that all of this was just a misunderstanding. However, such statements clearly did not quell the anger of netizens and still received criticism from the public.

In fact, everyone knows the truth. It's just that WeChat wants to use its market monopoly position to forcefully raise prices, but it just offended the wrong target. Chinese university groups will not suffer from this dumb loss. Not only will they directly lift the table and refuse to compromise, but they also use the influence of terror to quickly ferment the event.

When WeChat Pay realized that the event was not good, it had already been pushed to the forefront of the storm in the midst of abusive voices.

Coincidentally, it is not the first time that WeChat Pay has squeezed customers and suffered backbiting.

As early as last March, Anhui Communications All in One Card Co., Ltd. announced that the company had to give up using WeChat Pay payment because WeChat Pay unilaterally raised the commission rate and refused to negotiate. It is commendable that Alipay did not follow the trend in this price increase.

I have to say that although Ma Yun has a big mouth, he is much better than Ma Huateng in terms of being a man. At least he doesn't look so bad at making money.

In fact, the public has long complained about the arrogance of WeChat Pay.

Most of the complaints from merchants are dissatisfaction with the handling fees themselves, but the big payment environment is like this. Cash and UnionPay payments do not require handling fees, but they also block the channels for making money. It can only be said that there is a willingness to give.

However, it is difficult to understand that WeChat Pay also charges service fees for the general public, because we save the money in WeChat, and Tencent could have used the money to invest and lend. Even if it is to pay current interest in the bank, it is a considerable income. However, WeChat is still greedy and needs to charge 0.1% of the service fee, that is, for every 1000 yuan raised, we need to pay a service fee of one yuan to WeChat, which is really "lying and earning".

At this point, some whitewashing people may jump out to defend WeChat, saying that a platform operation also requires money, otherwise why would you be allowed to use it for free? But is this really the case? To put it simply, when you deposit money in the bank, it is free, and when you withdraw it, the bank also pays you interest,But if you transfer this money to WeChat, you don't do anything during this period, and when you finally withdraw it, you will lose a portion, and during this period, WeChat will use the money you transfer to make a lot of money.Do you think this is reasonable?

Of course, the same is true of Alipay, but at least Alipay has a free amount of 20000 yuan for withdrawing money. To be fair, Alipay has a wider application range, and many scenes that do not support WeChat Pay can be solved with Alipay. The reason for all this is that WeChat is insatiable and keeps increasing the service fees of merchants, which results in being abandoned. Even so, WeChat still has no losses, and only merchants and ordinary people suffer, Businesses may lose customers because they don't support WeChat Pay, while ordinary people may have to withdraw cash because they don't have WeChat Pay,Created a "double loss" situation, only WeChat laughed until the end.

Even so, the relevant responsible person of WeChat Pay is still crying for poverty. At the WeChat open class in early 2022, Zhang Ying of WeChat Pay mentioned in her speech that in the past few years, WeChat payment has never made profits in the collection business of small and micro merchants, and has always been in a loss state.

Capital is profit driven

Will WeChat Pay be banned?

In my judgment, it is impossible, at least not in the next ten years, because the current WeChat Pay has penetrated the society too strongly and has become a user habit. Although many people scold WeChat Pay behind their backs, they will still quietly open WeChat when checking out.

However, it is not hopeless. Maybe it is because of the chaos in the payment market that the state has created the "Digital renminbi". As all friends who have used it know, there is no such thing as roundabout fees. What is lacking in beauty is that due to the lack of time and effort invested, large-scale coverage has not yet been formed. Even in front-line or provincial capital cities, only a few shops supporting Digital renminbi can be seen sporadically, It can only be said that the road is blocked and long.

At present, what we can do is to hope that relevant departments can negotiate with mobile payment operators on the issues of "whether to charge fees" and "how much fees should be charged", and ultimately benefit the general public. After all, in such a difficult environment, no one's money is brought by strong winds. Perhaps reducing the fees to a reasonable level may save a family or a business.

In general, this public praise collapse event has given WeChat Pay a heavy blow. Previously, Alipay had already overtaken the market share. In the days to come, there may be another wave of "recession tide". Let's wait and see what will happen in the future!

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