Minsheng Bank and P2P do differentiated competition push free intelligent POS machine

In order not to miss the wave of Internet finance and to make differentiated competition with Internet finance companies, Minsheng Bank has launched a free intelligent POS machine.

Wang Qing, head of the technology innovation team of Minsheng Bank, said that “pretending to be a geek” said that Internet finance companies are generally doing consumer-level markets, and the commercial-grade market has basically not been involved. Banks are not really good at making consumer users. Minsheng Bank hopes to build a CPOS platform through such a device to provide industry services and financial services to merchants on the platform.

For merchants of different sizes, Minsheng Bank's intelligent pos machines mainly have two different versions, one is desktop and the other is handheld. It is said that the launch of the intelligent POS machine, Minsheng Bank is not only to replace the traditional POS machine of the merchant, but to replace everything on the merchant's desktop.

The smart POS machine uses a customized version of the Android system, which fixes a large number of security vulnerabilities and eliminates the possibility of being ROOT. Wang Qing said that "Pretending to be a geek" said that Minsheng Bank will not directly produce intelligent POS machines, but will formulate relevant specifications for hardware and software. Hardware manufacturers can design and produce hardware in accordance with this specification. After testing by the bank card testing center and obtaining the intelligent POS certification issued by China UnionPay, the products that meet the CPOS specifications by Minsheng Bank can be purchased by Minsheng Bank and enter the CPOS platform.

Minsheng intelligent POS machine is equipped with magnetic stripe card and IC card reader, thermal printer, NFC, QR code scanning, keyboard and other peripherals, as well as USB, COM, RJ11 and other interfaces. Direct access to the Internet via wired, Wi-Fi, 3G, etc. Support almost all payment methods including bank card, flash payment, WeChat, Alipay, Tenpay, etc. At the same time, it also supports the merchant's own stored value card and various shopping cards.

Wang Qing said that "Pretending to be a geek" said that Minsheng Bank will issue smart POS machines to merchants free of charge, and the first batch will issue at least 100,000 units for free. At the same time, software service providers who join the CPOS platform are also free. Application developers can develop CPOS-based Android applications and implement functions such as calling hardware functions and integrating bank card payments through APIs.

With this intelligent POS machine, all business activities of the merchant can be completed through this POS machine. Through this equipment, Minsheng Bank can close the merchant's capital flow and information flow, and get all the business data of the merchant. Wang Qing said that only one Boca software used in the beauty and hairdressing industry can reach 180 billion yuan per year, and the offline world is much larger than the Internet world.

After legally obtaining the data of the merchants, Minsheng Bank will hire professionals from relevant industries to do model data analysis of the industry. This serves as the basis for designing credit lines for merchants. Provide customized and differentiated financial services for small and micro users. Wang Qing said that the rate of POS machines will gradually decrease or even cancel. The agents of traditional POS machines used to rely on rates and fees to develop. In the future, they must survive through value-added services.

It is understood that since July, Minsheng Bank has been piloting the operation of intelligent POS machines in Guangzhou and Shanghai, and has already distributed more than 500 units. At the end of September or early October of this year, Minsheng Bank will also hold a developer conference in the first-tier cities in China to cooperate with UnionPay, Tencent and investment institutions to promote this product and platform. (Text / Ding Ding)

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