My rebirth is different

Page 794

"Why do I say I regret it? It's because of WeChat Pay! This kind of online payment has already had a successful precedent in Europe and the United States, and that is PayPal. Everyone should have heard of it." Jack explained again.

PayPal is an online payment company in the United States, which has a similar function to WeChat Pay. It was acquired by EBAY for US$2002 billion in 15.

"Even if WeChat Pay reaches the scale of PayPal, its value is actually not too great, and it will not arouse our interest at Citigroup. However, recently, because we have more cooperation with Feizong, we have studied Feizong's investment again. Trajectory, found an interesting thing.

That is, Fei Zong itself is one of the major shareholders of Shanghai Pudong Development Bank, and WeChat Pay has a very close relationship with Shanghai Pudong Development Bank!

From this we speculate, will WeChat payment develop in the direction of comprehensive online financial services in the future?

If so, the prospect of WeChat payment is too bright!

Moreover, for the financial business, we at Citigroup are very interested. "

Jack said all his thoughts in one breath, and he looked at Yu Wenfei with a questioning look in his eyes.

Yu Wenfei smiled and said, "This is what I'm calling everyone to talk about today."

He beckoned, and Pei'er stood up behind him, took out a stack of thin folders, and distributed a copy to everyone present.

When everyone opened it, their expressions became cautious.

The document in the folder is titled "A Plan on Spinning off WeChat Payment and Establishing an Online Financial Services Company."

This move that has been ambushed for a long time is about to start to play its due role.

Compared with WeChat, WeChat Pay has not developed much at present. Although it already has the function of online payment, Shanghai Pudong Development Bank and China Merchants Online Bank also have this function, so WeChat Pay is currently not used by many people.

Moreover, Alipay, which was launched by Alibaba itself a while ago, was directly stopped by the competent banking supervision department.

However, WeChat Pay did not open up Alibaba's payment channels. Alibaba directly connected to the online banking systems of Shanghai Pudong Development Bank and China Merchants Bank, but rejected WeChat Pay.

Without a payment scenario, no matter how easy WeChat payment is to use, there is no room for it.

However, Yu Wenfei didn't take it seriously at the time. WeChat and WeChat payment are not projects that are eager for success. Do it first and then develop.

The reason why we want to talk about WeChat payment separately this time is because the opportunity has come. Taking advantage of this opportunity, we can take WeChat payment a big step forward!

In this plan, Yu Wenfei formally proposed that the function of WeChat payment should be spun off separately to form a branch company.The newly established online financial service company will no longer be limited to online payment, but will develop comprehensive financial services!

For example: domestic and foreign currency financial leasing business; absorbing fixed deposits of shareholders with a period of one year or more; accepting lease deposits from lessees; transferring lease receivables to commercial banks; issuing financial bonds upon approval; interbank lending; borrowing from financial institutions; Overseas foreign exchange borrowing; sale and processing of residual value of leased items; economic consulting business...

The future even includes insurance business!

This is actually all the business of a bank!

…………

"Mr. Fei is sure to get a financial license?" Jack from Citibank said in surprise.

He is most familiar with these, and of course most interested.

In order to enter the domestic banking industry, Citibank has done a lot of work and invested a lot of human and financial resources, but until now, it still has not really controlled any bank.

"Be sure, and these are only long-term goals. For the time being, we will focus on online payment, and at the same time start to establish a personal credit system for Internet users. These things can be cooperated with Shanghai Pudong Development Bank." Yu Wenfei replied seriously.

According to his plan, WeChat payment is indeed not suitable for existence as an auxiliary function of WeChat, because the prospect of this business is exciting!

This is another big project worth tens of billions of dollars!

"The project is very good, but... doing financial business in China is very difficult to promote. Let's talk about online payment. Now there are online banking of regular banks. Our WeChat payment is basically not used by anyone, and there is no place to use it. So This plan..." Shen Nanpeng reminded cautiously.

What he said is indeed reality, the ideal is very full, but the reality is very skinny.

Even the basic online payment function has not been promoted yet. Facing the competition from several major banks, why should users trust the financial services of a private company like you.

In China, in terms of credibility, private companies are still incomparable with state-owned banks.

"If there is no solution, I wouldn't call everyone here today. Suppose we invest [-] to [-] million U.S. dollars to directly promote WeChat Pay to reach tens of millions of users, and all users are high-quality users. Make a certain amount of online payment through WeChat payment. So, do you think it is worth the money?" Yu Wenfei said calmly.

Everyone was taken aback, and began to think about Yu Wenfei's words.

According to him, it is to spend [-] to [-] million US dollars to directly push the WeChat financial business to the level of tens of millions of users, and all of these users are top-quality users, and each of them is a real user, and it is the activated one.

If this effect can be achieved, the two to three hundred million dollars will be worth the money!

Financial users, especially high-quality and high-net-worth users, are so precious.

More importantly, if WeChat Finance can have so many high-quality users, then it has in fact become an online financial giant in mainland China. After the user credit system is established, it will be even more difficult for latecomers to compete with it.

"If we can achieve the effect Mr. Fei said, then of course it's worth it! What does Mr. Fei need us to do?" Shen Nanpeng asked first.

Yu Wenfei smiled slightly, "Of course, it is to let everyone have money to contribute money, and to contribute effectively. If you want to establish an online comprehensive financial service company, you need a large number of professional financial personnel, and the initial start-up capital, which is the [-] million I said U.S. dollars, let’s see which shareholder can pay for it?”

WeChat Pay is a department of WeChat Technology. If it were to be spun off to form a separate company, the original shareholders of WeChat Technology would naturally directly own the corresponding shares.

That is to say, Yu Wenfei monopolizes [-]%, Softbank Capital [-]%, Modu International Trust and Investment Company [-]%, Shen Nanpeng [-]%, and Jiaotong University Venture Capital [-]%.

"I don't know if we can get this money from Citigroup!"

Before others could speak, Jack from Citigroup couldn't wait to speak.

Chapter 676 Solve the Funding Problem First

Citigroup isn't very interested in instant messaging over the Internet, especially at a high valuation.

But for internet finance, they are very interested!

So Jack can't wait to join in and win a certain share for Citigroup. In his opinion, if he chooses a company or a person to invest in China's Internet finance industry, then Yuwenfei is definitely the best investment object!

Quite simply, Yu Wenfei's achievements in the past have fully proved this point.

What's more, there is no other investment object now. Even in European and American countries, this concept has just emerged. Even pioneers like PayPal have not achieved the comprehensive Internet financial services proposed by Yu Wenfei.

The concept proposed by Yu Wenfei today is already a global pioneer!

The remaining shareholders already own shares in WeChat. Even after WeChat Pay is spun off, they will have the same proportion of shares in the new company, so they are not in a hurry.

Yu Wenfei smiled and said, "Of course there is no problem. I invite Mr. Jack to come here today, and I also want to invite Citigroup to join the board of directors of this new company."

Citigroup was invited not only for their money, but also because Citigroup is too professional in the financial industry and has a great influence in the global financial industry.

The essence of Internet finance is still the financial industry, but it uses the Internet as a tool, so the company must have a large number of professional financial personnel. In this regard, Shanghai Pudong Development Bank and Citibank can provide help.

…………

On the valuation of the new company, everyone had another disagreement, of course, between Jack and the original shareholders.

Of course, the old shareholders hope that the higher the valuation, the better, so that the newly joined Citibank needs to pay more cash to acquire the shares, and the proportion of the old shareholders' shares will not be diluted more severely.