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Text Chapter 2975 The upstart in the credit card market

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    The integration and establishment of an industrial chain is not reflected in one company or one 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, Fairy Bank, which provides credit guarantee, and Xiaoyao Logistics and Xiaoyao, which are responsible for transportation and storage.  Only when express delivery is completed can it be considered a relatively complete industrial chain.  Of course, this does not mean that this 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.  Last June, the square mobile card reader started operating in North America. As a result, in just over a month, it has swept across North America.  At that time, 12 million small shops and 7 million individuals in the United States had applied for the Square mobile card reader, while Canada also added 1 million users within a week.  The biggest reason for such popularity is, of course, that the Square mobile card swipe is free. As long as you fill out an application and it is reviewed, the Square mobile card swipe will be delivered to your store or home soon.  The financial industry in North America is actually very irregular. It is no exaggeration to describe it as a chaotic mess.  The financial cases that occur in North America every year are dozens of times more than those in China.  It¡¯s just that financial fraud in China is still limited to low-level methods such as phone fraud, while financial fraud in the United States has become so sophisticated that I don¡¯t know how many smart people have been fooled.  People are very cautious to use tools such as the Square mobile card swiper to obtain their credit card and other personal information, and it is impossible to take them out 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, Xiao Qilai founded the square mobile card swipe device.  With Xiao Qi¡¯s reputation and strength, as well as his reputation of doing what he says 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 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 rules of the previous life, there would not have been such a large number of applications for the square mobile card reader in a year.  ??It has developed so rapidly from the beginning, which is actually not necessarily a good thing.  Because starting from August last year, the number of shops and individuals applying for Square mobile card readers has become much smaller. By the end of last year, there were only 22 million shops and 32 million individuals applying for it in North America.  Of course, this absolute number is already quite a lot, but considering the ferocious momentum from the beginning.  It seems to be a little worse.  As for the reason, the people who believed in Xiao Qi the most had already applied at the beginning, and those who joined later joined after seeing the convenience, convenience and cheapness of the square mobile card reader.  The management of Square Company are all professional elites recruited by Hoffman. They are not aware of such a situation.  It had been expected for a long time.  So whether it was prosperous at the beginning or slightly deserted in the following months.  None of them changed their work attitude.  On the one hand, they continue to strengthen the confidentiality service of Square mobile card swiping machines as much as possible. On the other hand, they actively communicate with merchants, individuals and banks so that the entire card swiping system can be more integrated into people's living environment.  The most important thing about a card reader is naturally its confidentiality.  If the user¡¯s identity information and bank account secrets are leaked, it will undoubtedly be a disaster, and the entire square will be destroyed.  So in square company.  There are at least twenty engineers working day and night to write new password codes so that the dynamic password of the Square website can be changed at any time and will not be cracked by hackers.  In this regard, Xiao Qi¡¯s several super hacker friends.  He also contributed his own strength.  They have already made a lot of money from the fairy system's patent fees. Their lives have been very nourishing in the past two years, and they can live under the sun, so they are also very grateful to Xiao Qi.  For example, the confidentiality measures of the Square mobile card swipe machine are not difficult in their opinion. The key lies in preventing network attacks. Since all transactions are processed through Square, as long as the Square company's website is properly guarded against,  , then you can block attacks from hackers.  To this end, they have designed several sets of plans for engineers to rotate and work on. They also guarantee that they will replace another batch in three years, which will prevent other hackers from attacking to the greatest extent.??.  After handling the password service, the next step is to connect the procedures with the bank.  The reason why the square mobile card swipe device has gained a reputation is not only because it is Xiao Qi's company, but also because the square mobile card swipe device is given free of charge, and more importantly, its charge.  From the perspective of credit card swiping, if you consider that the credit card penetration rate in developed countries is higher than their education penetration rate, and ordinary people have at least two or three credit cards, you can calculate how prosperous the entire credit card market is.  Americans alone have more than 1 billion credit cards, Canadians have more than 100 million, and Europe has more than 3 billion.  Even South America, which is not very economically developed, has more than 3 billion.  So many credit card users have also given birth to many credit card giants, such as visa, masterard, jb, etc.  They charge 3% to 5% for small businesses and 1% to 1.5% for large businesses. We almost have an offensive and defensive alliance to make money from users together.  The square mobile card swipe only charges 15 cents plus a 2.5% handling fee for each transaction. Manually entering the credit card account and password is 15 cents plus a 2.75% handling fee, which is not high.  So, the emergence of square mobile card reader has changed the situation of high credit card fees.  The bank that provides bank support for the square mobile card reader is naturally Xiao Qi¡¯s die-hard ally Citibank. ? Citibank was the clearing bank for the square mobile card reader from the beginning, so it was the first to join the square mobile card reader.  Most of them have Citibank accounts.  ?Also because it is backed by Citibank, people have more trust in the Square mobile card reader. It is indeed convenient to use, and naturally they like to use it more.  After such a short period of half a year, everyone has seen that the square mobile card swipe machine has not collapsed, but is working steadily.  Immediately, I became interested: Hey, this company hasn't been defeated by many major credit card alliances yet?  It seems that Xiao Qi really wants to seriously build a new online credit card software company!  Since you don¡¯t have to worry about the Square mobile card reader breaking down, and because it has a very low handling fee, we ordinary people are not rich people, so of course we can save as much as we can.  So starting from the beginning of 2010, the square mobile card swipe began to become popular 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 for enjoyment.  It¡¯s not much better than here in Southeast Asia.  But they are very rich in resources. 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 easier.  In such an environment, people are still very keen on consumption, and credit cards are of course very popular here.  Such a cool product as the square mobile card swipe allows them to reduce spending.  This was naturally welcomed by them, and within half a year it had become the company with the largest market share in Brazil, Paraguay, and Mexico.  It greatly surpasses the two giant companies JB and Visa.  In half a year, decades of hard work by others have been wiped out. The momentum of the square mobile card swipe device is simply breathtaking.  Citibank, which provides bank support for the Square mobile card swipe, is naturally a great success here. There are more than 7 million new account users in these three countries alone, which is also their total number in the previous two years. ? Among them, the liquid funds are deposited in Citibank.  It is as high as hundreds of billions of dollars. This huge amount of accumulated funds is enough for Citibank to subsidize too many losses. Of course, Citibank still has to pay the interest that Square should pay.  With successful experience in North and South America.  The development of square mobile card readers in Europe is naturally booming.  Since June, the British company Square has been established.  In August, the German square company was established.  In September, the French company Square was established.  By the end of October, the number of European shops and individual users of Square's mobile card swiping device has exceeded 39 million, which is even more fierce than the original momentum in the United States. At the same time, the total number of global users of Square's mobile card swiping device has exceeded 39 million.  380 million!  Based on this number of users, from North America to South America and then to Europe, it took just over a year for the square mobile card reader to become the fifth largest credit payment company after the four major credit card groups!  And Square has started to make small-scale profits since August.  Considering that the total number of credit card users in the world exceeds 3 billion, and a user usually has two or three credit cards, with such a large market size, even if the square mobile card swipe deviceIf it only has 1 billion users, it can earn at least more than 10 billion US dollars that year!  This means that from now on Square will become a golden doll, bringing a steady stream of wealth to Xiao Qi!  I don¡¯t know how many people are envious and jealous of Xiao Qi¡¯s idea.  I don¡¯t know how many people are eyeing the square mobile card reader and want to get a piece of it.  In July last year, JB's offer to Xiao Qi was a wholly-owned acquisition of US$1 billion, but now Masterard has offered US$30 billion to acquire it. The specific method is part of the cash payment and part of Masterard's shares. Such a valuation increase rate  , which is also difficult for those old-fashioned businessmen to imagine.  The Internet era is an era of creating wealth miracles!  (To be continued.) I would like to visit on my mobile phone.
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