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Recently, a number of colleges and universities across the country announced that they will suspend the use of WeChat payment starting from July 1, because WeChat payment will charge a 0.6% handling fee. Previously, WeChat payment has been free of service fees for payment services in education scenarios. .
According to incomplete statistics, Northwest University, Nanjing University of Science and Technology, Jiangsu Normal University and many other colleges and universities have issued similar announcements on disabling WeChat payment.
On June 27, Northwest University issued an announcement saying, “Because Tencent’s WeChat payment will carry out refined management of campus scene users from July 1, except for tuition fees, other charges will be restricted and charged 0.6% We have decided to suspend the WeChat code scanning payment service for on-campus all-in-one card users.”
Zhoukou Normal University also stated that after receiving the notice from Tenpay Payment Technology Co., Ltd., the school’s multi-party communication has not received obvious results. In order to reduce unnecessary financial burdens, it has decided to suspend the application of WeChat payment scenarios on campus from June 29. , including various fees collected by the Finance Office, recharge of the campus card, payment of textbook fees, network transportation fees in the living area of faculty and staff, air-conditioning electricity fees in student dormitories, and electricity fee payments for commercial rooms, etc.
In response to this matter, the WeChat team stated that due to our poor handling of the payment rate issue for college life service scenarios, which caused everyone’s troubles, we would like to apologize to the majority of schools, teachers and students. Please rest assured that we will continue to maintain a zero-fee preferential policy in non-profit scenarios on campus.
The original intention of this adjustment is to implement more refined preferential measures for the fee rate, but it is obviously too simple and rude to cause misunderstandings. We apologize and correct it immediately. In the future, we will continue to optimize the communication process with universities, strengthen cooperation, and help The continued development of campus digitization.
In addition, according to the reporter’s understanding, for education scenarios, there has not been a problem of rising payment fees in channels such as Cloud QuickPass, Alipay, and banks, and they can still be used normally.
Wang Pengbo, a financial analyst at Broadcom Consulting, told reporters that the campus scene has always been regarded as a public welfare scene in general, and the supervision has continued to provide preferential payment rate policies for such scenes, and has been calling for small, medium and micro enterprises since 2021. And public welfare scenes to reduce fees and make profits.
He said that due to various reasons such as business development and policies, there are various types of profit sharing models for digital wallets on the account side. Before that, the fee rate of 0.6% could only be achieved for general scenarios, and it has always been 0 for public welfare scenarios. This time, WeChat Pay raised the price of the campus scene, indicating that WeChat itself is under greater pressure to rely on the financial technology sector to make profits. Therefore, it is recommended that WeChat Pay itself balance social responsibility and profitability. Currently, WeChat can acquire users through high stickiness, but the usage habits of young user groups may also change.
The reporter noticed that the fee rate of China’s bank card acquiring market has been at a low level, resulting in low profit margins for acquiring institutions. Due to the continuous strict supervision in recent years, the compliance costs of payment acquiring institutions are also gradually increasing. It also allowed bank card acquirers to start increasing the rate of acquiring bills in specific scenarios after the “jump code” incident.
In addition, Tencent’s latest financial report shows that the growth of Tencent’s financial technology sector is relatively weak. In 2022, the annual revenue of Tencent’s financial technology and enterprise service business will only increase by 3% year-on-year to 177.1 billion yuan.
Source: Jiemian News
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