What is the difference between a fourth-party payment platform and aggregate payment?
Aggregated payment and fourth-party payment platform are two common payment methods in the field of mobile payment. They have many similarities in practical applications and bring convenience to people's lives. However, there are also essential differences between these two payment methods. I will compare and analyze them from different perspectives.
1. Definition
Aggregated payment refers to a payment method that integrates multiple payment channels to consumers through one platform and provides them to consumers. Simply put, it is to integrate multiple payment channels on one payment platform to provide consumers with multiple payment method choices.
The fourth-party payment platform is a new payment model developed on the basis of the third-party payment platform. As one of the core payment tools for cross-border e-commerce, fourth-party payment platforms can provide consumers with a series of services such as online payment, offline payment, and prepaid cards. Its main functions include collection, payment, risk management, settlement, etc.
2. Functional
aggregation The main function of payment is to integrate multiple payment methods, including Cloud QuickPass, WeChat, Alipay, etc., allowing consumers to choose the payment method they are most familiar with, while also reducing the cost of merchants accessing the payment system. .
Fourth-party payment platforms pay more attention to the comprehensiveness and depth of services. They not only provide traditional payment functions, but also extend to business development, marketing and other services to provide consumers and enterprises with more comprehensive solutions.
3. Risk control
The aggregate payment platform only integrates multiple payment methods. Each payment institution bears more responsibilities and risks, and the risk control is relatively low.
The fourth-party payment platform provides a more complete risk control system, including user identity authentication, transaction risk assessment, capital supervision and other means, which can effectively ensure transaction security and reduce risk losses.
4. Service positioning
The service objects of the aggregated payment platform are mainly third-party payment institutions and merchants, and they increase market competitiveness by providing payment channel integration services.
Fourth-party payment platforms focus more on providing comprehensive services to consumers and merchants, helping merchants develop e-commerce businesses and promoting consumers’ shopping experience.
5. Profit model
Aggregated payment platforms mainly rely on fees charged by various payment institutions to obtain profits, and their profit model is relatively simple.
Fourth-party payment platforms make money through agency commissions, user service fees, traffic realization and other channels, and their profit models are more diversified.
To sum up, although aggregate payment and fourth-party payment platforms are similar in some aspects, their essential differences are relatively obvious. Aggregated payment mainly integrates various payment methods to reduce enterprise access costs, while fourth-party payment platforms focus more on providing comprehensive service solutions and improving consumer and enterprise satisfaction.