Entertainment mogul: Starting his business with the internet

Chapter 154 EasyPay

Once someone took the lead in speaking, everyone started to speak freely, vying to express their opinions and show off in front of the chairman.

Song Ci listened attentively to everyone's remarks, but overall, everyone maintained a conservative and wait-and-see attitude, believing that the company should remain calm and wait for the situation in the mobile phone industry to become clearer before taking any action.

Most of the company's senior executives underestimated the impact of the emergence of smartphones. However, this is understandable, as not everyone has a strategic vision that transcends the limitations of their time.

It is estimated that no one could have imagined that in just three or four years, traditional mobile phone manufacturers would be utterly defeated, and smartphones would rapidly dominate the global market, ushering in the great era of mobile internet.

Song Ci cleared his throat and said loudly, "Everyone, let me summarize."

His voice was steady and powerful, carrying an undeniable determination: "What we are witnessing today is not just the birth of a new product, but also the official opening of a new era for the mobile internet."

Since Qualcomm revolutionized communication connectivity by connecting mobile phones and the internet, it has ushered in the mobile internet 1.0 era.

With the advent of smartphones, the entire company must be keenly aware that smartphones will be the core battleground in the future internet arena.

Tenda Group must keep pace with the times and gradually shift its product focus to smartphone applications within the next year, quickly developing corresponding mobile versions.

Song Ci's words were resounding and powerful. He paused briefly, looked around the room to make sure everyone was listening attentively:

"Developing mobile products means that we need to rethink product design, marketing strategies, and even the entire business model."

The company cannot afford to be complacent. Only by continuously innovating and developing applications that lead trends and meet the needs of mobile users can it gain a foothold in the upcoming fierce competition and even lead the industry.

After emphasizing a few more points, Song Ci announced the meeting was adjourned: "If there's nothing else, everyone can adjourn. Mr. Zhang, please stay behind."

Today's event was just a pre-launch event; the first-generation Apple phone won't be officially released until the middle of this year, and sales in mainland China won't start until 2008.

Therefore, there is still some buffer time for the development of mobile products, but it is related to the future development of Tengda Group, so we need to make preparations in advance.

It is essential to instill a sense of urgency and mission in everyone in the company before Song Ci convened a meeting to ensure that the group's senior management fully recognized the importance of mobile devices.

As everyone left, only Song Ci and Zhang Yong remained in the large conference room.

"Old Zhang, what's the progress on that matter?"

Sensing the chairman's urgency, Zhang Yong quickly reported, "After you helped smooth things over, the problem with the bank was resolved smoothly."

We've reached the final stage; the approval process is basically complete, and the company can start its third-party payment business after the New Year.

Song Ci's face lit up with joy, he nodded in satisfaction, and excitedly pumped his fist repeatedly:

"Well done! In the future, electronic payment will become a key factor in the success or failure of the Internet industry. Now that EasyPay is in place, we are finally not too far behind Alibaba and Tencent."

Among the companies in China that conduct third-party business today, Alibaba's Alipay and Tencent's Tenpay are the most well-known.

One is a third-party guarantee platform for Taobao, and the other can be used to recharge QQ coins. It has a wide range of applications, a large number of users, and the highest market share.

Alibaba launched Taobao in 03 and Alipay in 04. With the rapid development of its e-commerce business, Alipay has grown rapidly and is now the only leading third-party payment platform in China.

Songci began working on opening up various channels and connections in 2005, relying on a lot of personal connections. After a year and a half, they finally saw the light at the end of the tunnel and were able to launch YiPay, a third-party payment platform belonging to Tengda.

The Song Dynasty poetry is full of spirit, and the fact that EasyPay was able to get it done is the first piece of good news in the new year.

"Old Zhang, I'm planning to set up a wholly-owned subsidiary to operate EasyPay. You'll have to take on the responsibility of managing this subsidiary for the time being."

Zhang Yong adjusted his black-rimmed glasses, his brow furrowed. Unlike his optimistic boss, he spoke with concern:

"Mr. Song, in the area of ​​third-party payment business, we don't have the large-scale application scenarios of Alibaba and Tencent, so it's a bit difficult to develop our user base."

Song Ci smiled and comforted her, "Don't worry, everything is difficult at the beginning. YiPay can be launched and run on internal products such as Toutiao.com and TD gaming platform."

First, we need to secure a basic foundation. Currently, our top priority is to get the subsidiaries operating normally.

My purpose in establishing EasyPay as a separate subsidiary was to clearly separate it from the group's existing businesses, so that it could take on external business and develop independently in the future, without needing the group to continuously provide financial support.

Zhang Yong seemed to understand something, then suddenly said, "I understand what you mean, President Song: develop gradually from the inside out."

Before the new year, I'll first get the subsidiary up and running, and have all departments cooperate to launch EasyPay, to see how it performs within the group and test the stability of the payment system.

Song Ci nodded in agreement. Zhang Yong's approach was indeed prudent. Yifutong involved monetary payments, and there couldn't be the slightest problem.

"Old Zhang, there aren't many technical difficulties in third-party payment business. The core element is to ensure system security and stability."

Besides Alibaba and Tencent, many other companies in the market are also engaged in third-party payment. When they lack personnel, they send HR departments and headhunters to poach talent. In the future, EasyPay will be a core business of the group's top priority, so the more talent in this area, the better.

Upon hearing this, Zhang Yong made a promise: "I will definitely set up the framework of the subsidiary within a month!"

A month later, on Valentine's Day, February 14, 2007, Tengda Group initially invested 80 million yuan to establish a wholly-owned subsidiary called Yifutong.

YiPay is a company dedicated to developing third-party payment business. The general manager of the new company is temporarily concurrently held by Zhang Yong, the group's CEO, which shows the importance that Tengda Group attaches to YiPay.

As the New Year's bells rang, the capital city of Beiping was decorated with lanterns and colorful decorations, exuding a festive atmosphere.

In the ancient alleyways, bright red lanterns hang high, swaying gently in the wind, as if telling stories of bygone years. On the streets and lanes, people dressed in new clothes, smiles on their faces, exchange New Year's greetings.

On the morning of the second day of the Lunar New Year, the warm winter sun shone through the car window and into the car. Song Ci drove steadily, carrying his parents and girlfriend, to his maternal grandparents' house to pay New Year's greetings.

Liu Shishi, sitting in the passenger seat, wore light makeup. Her eyebrows were like distant mountains, her eyes like autumn water, and her skin glowed with a delicate luster under the sunlight.

Dressed in a festive red outfit, she was like a burning flame, vibrant and eye-catching. Sitting quietly and obediently, she exuded a gentle and charming aura.

At this moment, Ms. Liu could not hide her nervousness. Her hands were tightly clasped together, and her eyes kept glancing at the rearview mirror. Every time she met Liu Xiaoxian's gaze, she couldn't help but feel flustered. She felt as if she were being observed under a microscope, with Liu Xiaoxian watching her every move. The pressure of being watched was ever-present, making her increasingly uneasy.

Liu Shishi adjusted her posture slightly, trying to appear more dignified and proper. But no matter how hard she tried, the feeling of being scrutinized lingered, her heart raced involuntarily, and her cheeks flushed slightly.

The lively New Year scenes outside the car window flashed by, but they couldn't attract Ms. Liu's attention. Her mind was entirely on Liu Xiaoxian in the back seat, wondering how to behave to win her future mother-in-law's approval.

Song Ci seemed to sense his girlfriend's pitiful, pleading gaze and noticed the slightly awkward atmosphere in the carriage, so he spoke up to ease the tension: "Dad, Mom, are Uncle and the others going to Grandma's house to pay New Year's respects today?"

In the back row, Song Zhang glanced at his wife, Liu Xiaoxian, and seeing her gloomy face and silence, he coughed lightly, trying to ease the awkward atmosphere: "It's New Year's Day, and your uncle's family is coming today. We'll have lunch together at your maternal grandfather's house."

Liu Xiaoxian stared blankly out the window at the bustling traffic, her thoughts a jumbled mess.

She was seething with anger and had nowhere to vent it. She felt that her son, Song Ci, was being too hasty in bringing Liu Shishi to meet his parents during the Chinese New Year.

She hadn't figured out how to handle the relationship between Song Ci and Liu Shishi, and her son was so eager to bring her to meet the elders, which she felt was inappropriate.

I wanted to have a good talk with Song Ci before leaving, but when I saw my son's firm and uncompromising eyes, I swallowed back the words of refusal that were about to come out of my mouth.

Sitting in the car, Liu Xiaoxian felt increasingly resentful, feeling neglected by her son as a mother, and her dissatisfaction continued to grow.

Occasionally glancing at Liu Shishi through the rearview mirror, the girl's cautious demeanor did nothing to improve her mood.

Song Zhang sighed helplessly. His wife remained silent, as if the air around them had been frozen by her emotions.

I wonder when her resentment will dissipate. You can't even handle your son, so why make everyone unhappy during the New Year?

Song Ci's maternal grandparents' house was located on a quiet old street, with red lanterns hanging in front of the door, making it look particularly festive.

As soon as they entered, Song Ci grabbed Liu's hand and called out loudly, "Grandpa and Grandma, we've come to wish you a Happy New Year!"

As soon as he finished speaking, the two elderly people came out of the house with smiles on their faces, their wrinkled faces beaming with kindness.

Looking at the radiant young couple before them, the grandson and his girlfriend seemed like a pair of celestial beings who had stepped out of a painting, and the two elderly people's eyes were full of satisfaction and joy.

“Grandpa and Grandma, this is Shishi!” Song Ci introduced with a smile.

Liu Shishi also greeted them politely and sweetly, saying, "Grandpa and Grandma, Happy New Year."

Grandpa adjusted his reading glasses and looked her over carefully. The little girl was pretty and gentle, and very likable.

"So you're Shishi! I've often heard Yuandan mention you before. It's great to finally meet you. You're such a pretty girl. Come in and have a seat."

The young couple were led into the house by the elders, followed by Song Zhang and Liu Xiaoxian, who were carrying large and small bags of gifts.

As soon as she entered the house, Grandma mysteriously pulled a large red envelope from her pocket, handed it to Liu Shishi, and said peacefully:
"Happy New Year, child! This is a red envelope from your father and me. Welcome to our home."

Liu Shishi was flattered and quickly declined, but the two elders insisted on giving it to her, and she looked at her boyfriend in bewilderment.

Seeing this, Song Ci smiled and said, "Take it. It's a token of my grandparents' affection. They like you."

Unable to refuse, Ms. Liu blushed and accepted the red envelope with both hands, her heart filled with joy. This red envelope was not just a gift, but also a sign of the two elderly people's recognition and affection for her.

Before long, the uncle's family also came upon hearing the commotion. Song Ci's little cousin, Liu Yuqing, excitedly circled around Liu Shishi, calling her "sister-in-law" repeatedly. Laughter filled the entire room.

Several men, along with Liu Yuqing and Liu Shishi, were watching TV and chatting in the living room, while the grandmother, her daughter, and daughter-in-law were cooking in the kitchen.

While busy at work, my aunt joked, "Big sister, that's the little green plum you always talk about on New Year's Day. The girl is really pretty. Congratulations, you're going to enjoy the blessings of having a daughter-in-law."

Liu Xiaoxian remained expressionless throughout, her face cold as she refused to engage in conversation with her sister-in-law.

No one knows a daughter better than her mother. The grandmother immediately sensed that her daughter had a problem with her grandson's girlfriend and offered a reminder:
"It's the New Year, don't put on a long face. The young lady came to our door happily. Even if you don't like her, don't give her a hard time today."

"Okay, Mom!" Liu Xiaoxian replied weakly.

Grandma then added, "I think Yuandan and the little girl have a good relationship; he's always been protecting her, whether intentionally or unintentionally."

Besides, since the young couple has known each other since childhood, you can't do something foolish like breaking them up. And besides, you can't control New Year's Day now.

Upon hearing this, Liu Xiaoxian immediately became agitated and indignant: "Can't I, as a mother, control my son!"

Grandma rolled her eyes and gave her daughter a look that said, "You'll figure it out yourself." Everyone in the family knows what kind of personality Yuandan has.

Leaving aside the mother and daughter's heart-to-heart talk in the kitchen, Liu Shishi was chatting and laughing with her future sister-in-law in the living room. Song Ci was talking to her uncle, Liu Xiaochen, about some work-related matters.

"Uncle, we owe you a lot for helping with our company's third-party payment platform this time." Song Ci expressed his sincere gratitude. His uncle was a bank leader who had done a great deal of work for YiPay.

For third-party payment platforms like YiPay, there are currently no specific laws or regulations in China requiring them to operate, and they absolutely cannot be established without the backing of banks.

Liu Xiaochen smiled and waved her hand: "We're all family, it's too formal for you to say such things on New Year's Day."

However, your Tengda Group's EasyPay service can only be launched now during this regulatory vacuum; relevant policies are expected to be introduced soon.

Song Ci nodded, which is why he tried every means to take advantage of the current lax supervision to get YiPay approved, and waited for the relevant national policies to be introduced in two years to issue payment licenses.

Back then, it was extremely difficult to start a third-party payment platform. There weren't enough licenses available for all the central and state-owned enterprises. Without connections to the highest levels, forget about getting a payment license.

"Dinner's ready!" Grandma's call interrupted the conversation between the nephew and uncle.

Soon, the dining table was filled with a sumptuous feast, steaming hot and fragrant, as the whole family sat together, enjoying this rare moment of reunion.

(End of this chapter)