Mobile payment war already hit overseas, Alipay model provides a feasible reference path. The economist has pointed out that Chinas financial technology companies, many products are designed to solve the lack of Chinas financial system, which is not easy to copy Chinas success in other markets, greatly hindering the pace of its global expansion. 1. Local reconstruction of investment VS In April 26th, Bangladesh, the leading mobile financial service provider bKash and ant gold suit, announced a strategic partnership between the two sides to provide inclusive financial services to traditional financial services that failed to cover or cover inadequate communities and people. Ant gold clothing will invest in bKash and provide technical support. The founding shareholders of bKash, which was founded in 2010, including BRACBank and MoneyinMotion, have a financial license issued by the Bangladesh central bank. Currently, the bKash service network has 180 thousand agents in the city and the countryside and has more than 30 million registered accounts. It is the main mobile financial service provider in Bangladesh. In fact, from 2015 the first success in the India market, Alipay continues to replicate the investment mode of cooperation. In October 2014, shortly after the Alibaba went on the market to the United States, VijayShekharSharma, the founder of the largest electronic wallet Paytm, One97, the founder of Indias largest electronic wallet, came to Hangzhou to discuss cooperation with Ma Yunhe Peng Lei under the introduction of its investor Sai Fu fund, and the two sides reached a preliminary investment intention. In January 2015, Han Xinyi, the vice president of ant gold clothing investment, went to India to visit One97, the parent company of the largest electronic wallet Paytm in India, and Han Xinyi told Sharma that the Alibaba decided not to invest in Paytm, but the ant gold suit decided to invest. In September, the ant gold clothing was reinvested, with a total amount of about $more than 900 million. After the investment was completed, Ali was the largest shareholder, and the two were said to be up to 40% in Paytm. At the time of cooperation, Alipay will own growth experience copied to India. Under the Alipay team, Paytm has made the improvement to the product, to join the group purchase catering, taxi, movie tickets and other life service scenarios. According to the financial reported that in April 2017, Paytm total number of users in the global mobile payment field behind WeChat and alipay. Combing the progress you will find Alipay overseas, in 2015 and 2016, to promote the internationalization of the ant gold suit are relatively conservative, within just two years invested in 3 projects, started significantly accelerated pace from 2017, three months to complete at least 5 project investment or cooperation in South Korea, Philippines, cloth, Indonesia, Malaysia, Singapore Bureau. The Alipay model is very clear -- to choose good partners in the local Alipay technical standard output in emerging markets, entrepreneurial companies do not need to start from scratch the underlying architecture, including the elastic expansion of the cloud platform, the wind control system, big data applications. In contrast, WeChat chose to pay the Chinese line as the main path to widen the scene of WeChat payment line as the goal. In 2014, in cooperation with Korean duty-free shops, the money paid the overseas payment market in the way of network duty-free shops; in August 2016, the Tencents WeChatPay (Hong Kong Edition WeChat) received the first third party payment license of Hongkong; at the end of October 2017, the payment function was officially launched in Hongkong. In addition, WeChat has also obtained a licence in Malaysia, and its official business has not yet been launched. From our observation, WeChat payment online laying under the channel is all Chinese logo, that is to say, most of the targeted Chinese are overseas tourists. According to media reports, WeChat has entered 25 countries in the Chinese exit and payment business. While Alipay has access to more than 40 countries and regions of the hundreds of thousands of businesses, from the global coverage, Alipay leading. Two, ship out of the sea VS shipbuilding out of the sea The ant gold suit says that they are the model of ship out of the sea in globalization, and they are exporting to localised partners in Chinas tested technology and business models to help them develop localized electronic purses in their country. According to estimates, ants will provide the local partners with the technical experience of ants, the most direct benefits, to save them for more than 5 years of research and development costs and development time. It also allows mobile payments become the Internet industry Chinese rare reverse technology and model output, as in China Belt and Road Initiative along to help the local national development typical case, said the ant gold suit. If according to the shipbuilding of ant gold suit, WeChat pays for shipbuilding out of the sea model, applying for license plate and developing business in the country and region, for example, in Hongkong and Malaysia, the WeChat payment is the mode of applying for local license. There are difficulties and obstacles of Alipay and WeChat to pay two kinds of path: 1, WeChats social dividend is disappearing abroad: the reason why WeChats payment is growing in China is because of the popularity of WeChat in China, but in overseas, the social dividend paid by WeChat still can only play a role in the outbound Chinese. WeChat itself does not have the possibility of overseas - and unlike any WeChat payment tools like Alipay products, products of sea facing social culture, habits and local social networks and so on block. In contrast, Alipays more feasible investment path. It is interesting that Alipay is trying to seize the local partners, local social dividends, in March, the ant payment service launched jointly with Indonesia Emtek group Indonesia Alipay? DANA? Has been on the line, will be BBM? (Indonesia second chat) provide financial services. 2, the licensing examination is difficult: WeChat paid a license in Malay and Hongkong. Its not easy to get a license in Southeast Asian countries, and most of the companies that can get licensed locally are not big money valves or back-end backgrounds, and many local big companies have not applied for many years. It is said that Lazada? Also spent two years applying for online payment licences. Southeast Asian travel unicorn? Grab? Last year, it was also transformed into black households in Indonesia to stop electronic purses, and then resumed the recharge function by cooperation with OVO. If WeChat will continue to take this road in the future, it will affect the speed of coverage. At the same time, it is more difficult to get the license plate in the European and American countries. With this relative to the previous Alipay skip complex approval path, the output is committed to technology and experience, is a more feasible way. 4, acquisition of capital obstruction: in January 26, 2017, ant gold clothing reached an M & a agreement with American fast remittance for $880 million. By January 2018, the Alibaba groups company ant gold clothing and the American remittance company, jointly announced, were officially terminated because of the failure to obtain the approval of the US foreign exchange administration. Ants also paid $30 million for the quick surrender. Tencent also has many investments in the United States. In 2016, Tencent bought Fist, a US game company. For the time being, it is not known whether such strict approval of investment in China will spread to the game area. Three, the key Ali Tencent different from the sea Alipay and WeChat to pay in the overseas expansion of the road so different, with its own business focus and advantage, is also relevant. The focus of Tencent is mainly in the field of content (entertainment). In Southeast Asia, Tencent has just bought Thailands largest portals, SanookOnline, and renamed it Tencent (Thailand). In addition, it has also invested $19 million, with another Thailand digital content platform? Ookbee? Announced that both sides will jointly set up a new digital content company, OokbeeU, which will focus on providing original content generated by the user, with the goal of an omni-directional online media company. It is not hard to see that the Southeast Asian market is a key point whether Tencent or Alibaba. This cultural environment, payment habits, economic environment and Chinas very similar market must be a battleground for the military. From this perspective, the output of existing experience and technology is more feasible, and also has the possibility of replicating the next China market. Under the environment of Chinas market competition, the competition of big companies in overseas markets will become more and more intense. Source: blue whale TMT editor: Hou Wei Cheng _NT4124 The focus of Tencent is mainly in the field of content (entertainment). In Southeast Asia, Tencent has just bought Thailands largest portals, SanookOnline, and renamed it Tencent (Thailand). In addition, it has also invested $19 million, with another Thailand digital content platform? Ookbee? Announced that both sides will jointly set up a new digital content company, OokbeeU, which will focus on providing original content generated by the user, with the goal of an omni-directional online media company. It is not hard to see that the Southeast Asian market is a key point whether Tencent or Alibaba. This cultural environment, payment habits, economic environment and Chinas very similar market must be a battleground for the military. From this perspective, the output of existing experience and technology is more feasible, and also has the possibility of replicating the next China market. Under the environment of Chinas market competition, the competition of big companies in overseas markets will become more and more intense.