Reborn in 08, a heretical cultivator starting a business

Chapter 100 Wang Junshan's eccentric actions are so evil they seem righteous!

Lin Feng explained in detail: "On the contrary, we at Future Technology have no shortage of business and customers!"

“Our own YouTuan.com and WeChat Farm are major clients, and we have plenty of business.”

"What's missing is access to the interfaces of all the banks!"

"But by spending a few million to acquire a payment company that is on the verge of bankruptcy but covers the interfaces of major banks, and integrating it with WeChat Pay, WeChat Pay can be launched quickly."

Upon hearing this, the marketing manager was in high spirits:

"Doesn't that mean WeChat Pay will be launched next month? Then we won't have to let Alipay take another 100 million yuan?"

Wang Junshan, however, was not so optimistic: "It's not that simple, is it?"

Ning Shen, the head of WeChat Pay, nodded:
“Acquiring a payment platform that is on the verge of bankruptcy and integrating it with WeChat Pay can indeed launch it in a month and save 100 million yuan.”

"But there are many hidden dangers!"

"Do payment platforms on the verge of bankruptcy have hidden economic disputes, debt risks, or even legal risks?"

"If we acquire it and it turns out there's a huge debt or serious illegal activity hidden inside, YouTuan Technology might have to bear joint liability."

Upon hearing this, everyone's expression changed.

Wang Junshan's expression was also grave: "WeChat Pay is rushing to launch, and there isn't enough time to conduct thorough investigations. That would pose even greater risks!"

In the past, many payment platforms had various problems. After 2010, regulations were tightened, and many owners were imprisoned.

Wang Junshan had no desire to go to Tilanqiao for further studies!

Ning Shen continued, "Even without these potential problems, if a company is on the verge of bankruptcy, how many of its bank interfaces are malfunctioning?"

"For APIs that haven't expired, how much longer can the bank's authorization period be used?"

"Once the contract expires and needs to be renewed with the bank, the main entity will change, and the bank will need to conduct a new review and sign a new contract, which will require going through the entire process all over again! It will take another six months to complete all of this!"

Lin Feng nodded: "You're right, there's a very high chance that a platform on the verge of bankruptcy has hidden risks."

"But if we acquire a payment company that is not bankrupt, has mature technology, and is well-run, such as YeePay, Huifu, or 99Bill, we can avoid all the problems!"

"The cost is a bit high, it will require 9000 million to 1.5 million!"

Ning Shen shook his head: "That's pointless. What's the difference between spending so much money and having Alipay take a 100 million yuan cut when WeChat Pay launches six months later?"

Lin Feng also fell silent: "..."

Neither of these methods is a good solution.

The situation has become dire.

Wang Junshan suddenly had a brilliant idea: "There's another way."

"We have an e-commerce platform, a payment team, payment technology, and we've even got WeChat Pay up and running. What we lack is authorization from banks for their APIs!"

"Then we don't need to acquire the entire payment company that's on the verge of bankruptcy. Instead, we can just buy out their banking interfaces and integrate WeChat Pay, wouldn't that solve the problem?"

"???"

Everyone was taken aback at first, then their faces lit up with joy.

"Oh right, how come I didn't think of that?" Lin Feng suddenly realized.
"Once WeChat Pay is up and running, we can simply buy out their API, integrate WeChat Pay, and launch quickly, saving a hundred million yuan!"

"We will not acquire the entire payment company. No matter how much debt or legal risks they have, it has nothing to do with us. We are only buying out the bank interface SDK!"

"Moreover, the cost is lower, and once the bank interface expires, it becomes worthless."

"Those platforms are all on the verge of bankruptcy, and they're all lining up to sell and cash out before their APIs expire!"

"Basically, we'll sell them for whatever price we're offered. Twenty interfaces would cost around seven or eight hundred thousand."

"The bank interface SDK (Quick System Integration) makes integration easier. Integrating with WeChat Pay and connecting to our account can be completed in a week, and it's more secure. After some testing, it can be launched in half a month."

Ning Shen nodded, but still had some concerns:

"This method does work, but it's not a long-term solution."

"If the bank takes it seriously and finds that the interface has been changed, it will be necessary to re-examine and go through the process again."

“Especially going forward, the village is becoming increasingly strict in its management of payment platforms.”

"It's easy to talk about."

Wang Junshan had an idea: "Then let's take two steps!"

"Manager Lin, you're in charge of buying out the existing bank interfaces of a bankrupt platform, covering 15-20 mainstream banks. The authorization period should have at least six months left. Integrate with WeChat Pay as soon as possible and get it online quickly to break free from dependence on Alipay!" "Manager Ning, you and your team continue to connect with banks, go through the procedures, and apply for our own bank interfaces."

"We used the acquired bank interface for the first few months as a transition, and WeChat Pay was quickly launched. We'll use it for now."

"Six months from now, we'll fully switch to the bank interface we applied for ourselves!"

Ning Shen praised it highly: "Perfect! This method works, absolutely works!"

"It can be launched quickly, saving 100 million yuan in commission paid to Alipay, and there is no subsequent risk to the banks!"

"Good, you two work well together!" Wang Junshan said with a smile.

"no problem."

"Don't worry, boss."

Ning Shen and Lin Feng responded in unison.

After the meeting, the two returned to the payment department.

Lin Feng was filled with emotion: "The boss is truly a genius. Who would have thought that it could be done like this? It really doesn't follow the rules, yet it's ingenious."

Ning Shen nodded: "Yes, that's the normal procedure. Either we handle all the bank interfaces ourselves, which would take six months and we'd have to give Alipay a 1 million yuan commission!"

"Either we acquire a well-run, risk-free payment company, which can launch within a month, but that would cost 9000 million to 1.5 million!"

"But the boss didn't follow the usual path. He directly bought out the bank interface of the bankrupt company, and it can be launched at the end of the month. It only costs a few hundred thousand yuan."

“There are always excuses for going through the application process, and it doesn’t cost much money, it just takes time.”

"The boss's method is the lowest cost, the most efficient, and the most stable!"

"A cost of several hundred thousand, saving a hundred million! Incredible!"

Lin Feng strongly agreed: "No wonder we can only work for others, while they can be bosses. Their thought processes are on a completely different level."

"Who says otherwise? In all these years, I've never seen any payment platform operate like this!"

"I reckon Tenpay and 99Bill are going to regret this so much they'll turn green with envy."

"Yes, if they knew this method, they could save half a year and launch it six months earlier!"

"If we had acted six months earlier, how much market share could we have captured from Alipay? Why are we in such a passive position now?"

The two were filled with emotion.

Is this the right approach? Definitely not.

Isn't this a weird move? It's weird in a righteous way!

Even if a bank notices that the interface has changed its owner, WeChat Pay is already going through the process of applying for its own interface, and the bank won't say anything.

They're proactively complying with regulations, so what can you say?
Moreover, the card processing is handled by the bank.

Most importantly, these days regulations are lax, and there are far too many non-compliant businesses...

Seeing the steady growth of "WeChat Farm" and the number of WeChat users, Wang Junshan was in high spirits:

"Good, just keep it in reserve and let it quietly multiply."

"Thank goodness there's no Weibo or trending topics these days."

"Otherwise, WeChat Farm would have already garnered widespread attention online, and people would have started copying it!"

But in 2008, Weibo had not yet been created, there were no trending topics, and online communication was not as developed.

Furthermore, the fact that major portal websites were focusing their coverage on the Olympics actually gave "WeChat Farm" a rare opportunity to develop.

"Hopefully, we can survive until the end of the month, when WeChat Farm reaches 10 million users and receives a lot of attention. Then we can deal with being copied."

However, the ideal is full, the reality is skinny.

That evening, a post on Tianya Forum shattered Wang Junshan's dream.

Shen Huaijin, holding his notebook, exclaimed excitedly, "Boss, look! 'WeChat Farm' is a hit on Tianya Forum!"

Wang Junshan took one look and was completely dumbfounded:
[WeChat Farm surpasses five million players in just one week!]

"Damn it, who told him to post that?!"

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(End of this chapter)