Alipay VS WeChat-How Does Alipay Overturn the World Through Scenario-based Payment

In the middle of this week, the latest update of Alipay shocked everyone in China mobile payment community. In this update, Alipay released two critical function modules, merchants and social. People believe that it has combined all three keys of mobile Internet: social, payment and O2O.

WeChat, Alipay and Dianping used to holding these three keys respectively. However, since 2013, WeChat set foot in payment by releasing a function called "Purse", which launched the war against Alipay. WeChat merchants, a C2C mode based on "Purse", soon emerged, made WeChat take the lead in combining all three aspects. 

Time changes, things change. Now Alipay launched its counterstrike after preparation. Payment has been the strong point of Alipay. The social module further directly connects the method and need of payment, taking back the payment scene from WeChat.

While the merchants module provided an O2O channel other than Dianping. It presents recommendation and promotion to customers directly, built a simpler, but stronger payment scene for O2O. Users are now able to complete social and consumption on a single app, no longer have to switch between different applications， thus formed the closed-loop of mobile Internet.

Through this revision, Alipay seizes all critical factors, now running ahead of its competitors. 
What would Alipay9.0 bring to us?

1. Scenario-based payment is the core mode  
Almost the whole offline trading scene is included in Alipay9.0, which will replace the trading mode like cash or credit-card consumption. Scenario-based payment is convenient for trading, making a vital business ecosystem.

2. O2O evolution
O2O is a hot issue in China before Alipay’s rising. Alipay9.0 optimized the progresses of online purchasing and enjoy to service offline at the same time.

3. Gain good public praise 
Alipay9.0 entirely integrated offline shops, CVS, medical stores, restaurants and so on, through KouBei(a website in China, whose name means public praise). 
They take this action for a good public praise.

4. A new platform for business flow
Alipay9.0 will provide service connecter and flow to businesses through open platform. This is a good news for those traditional offline companies who has the willing to sell online. What they need to do is continuously supplying good products and services. 

5. The pusher of “internet +”area
Aiming at city services, paying utility bills and public transportation cost, updated Alipay9.0 has promoted particular serves.

6. Payment process is much much safer
To our surprise, Alipay 9.0 canceled the gesture password which was believed much safer by people. But It keeps fingerprint payment and face recognition retrieve function, what’s more, it put forward a new insurance that if there is one yuan missed, it will pay one million yuan insurance expense. This kind of action gives the user more conference and will promote Alipay to an upper stage.