Iron and steel industry e-commerce has been developing for more than ten years, in this field, the display model of the steel industry is constantly changing. In particular, for the industry e-commerce, as a vertical B2B business platform, electronic payment is an indispensable means. The emergence of the third-party payment platform is in line with the development needs of e-commerce and is also one of the concrete manifestations of online payment business innovation. The third-party payment platform itself is attached to a large portal website and relies on the credit of its cooperative banks. Therefore, the third-party payment platform can better break through the credit problems in online transactions. It is conducive to the rapid development of e-commerce.

First, the iron and steel industry e-commerce development status

    As of last year, there were nearly a thousand websites engaged in electronic steel trading in China. Up to now, the domestic engaged in steel information information services, steel resources search engine operation, steel online forward contract trading, steel online warehouse receipt trading, steel online spot trading websites mushroomed.

    Second, the rise of third-party spot trading platforms in the steel industry

    As the saying goes, crisis, crisis, danger is organic, iron and steel spot electronic trading should be popular, online trading has gradually developed into the mainstream model of traditional steel spot trading, creating an opportunity for the upgrade of the business. In the past, the common circulation mode of the iron and steel industry was steel mills -- agents ----, traders ---- terminals, which changed hands layer by layer, which naturally would produce huge costs, such costs are sales costs in addition to production costs, and will eventually be transferred to the end customer. In the steel industry overcapacity, steel mills face a situation of small profits and even losses, steel traders rely on the price difference profit model is difficult to sustain. The establishment of spot electronic trading platform has become an option for the upstream and downstream of the industrial chain to reduce costs.

    Third, the security risks of traditional payment in the steel industry

Steel trade is a commodity trade, the transaction volume is often relatively large, the security of funds, arrival speed and other requirements than ordinary commodity trade is higher, so solving the problem of large payment is an unavoidable problem for the development of China's steel e-commerce. The security of funds and goods is of the utmost importance to every transaction participant. Especially in the current industry recession, market confidence to the freezing point of the case, any trader for every transaction will be cautious. Traditional payment methods such as bank remittance, postal remittance, etc., require buyers to go to the bank or post office for complicated remittance business. If cash on delivery is adopted, even small commodity transactions face a credit crisis, and it is impossible to adopt such commodity payment methods for bulk commodity transactions. Therefore, electronic transactions are extremely eager for online payment, but they are afraid of the security of funds. In this new marketing law to promote the growth of enterprises under the market demand of third-party payment institutions were born.

    Fourth, the birth of third-party payment institutions

With the rapid growth of Internet payment business, the third-party payment industry is entering the fast lane of diversified development, which is reflected in: On the one hand, the rise of mobile payment has injected fresh vitality and more innovative elements into the development of the industry, the addition of offline business system has brought more innovation opportunities, and the third-party payment business is changing from online business to online and offline collaborative development. On the other hand, the establishment of compliance status has opened a broader market space to third-party payment, and third-party payment has ushered in more traditional industry partners and more innovative business models. The huge market acceptance will support the rapid growth of the entire industry, and the third-party payment industry has ushered in a golden age of development.

    China's third-party payment transaction volume has grown by more than 100% for five consecutive years, far exceeding the growth rate of social retail sales in the same period. According to iResearch data show that in 2011, China's third-party online payment industry continues to maintain strong growth, is expected to reach the overall transaction scale of 2203.8 billion yuan, breaking the 2 trillion yuan mark, third-party payment has been playing an increasingly important role in market transactions. At present, the development of domestic third-party payment shows a situation of industry concentration. Alipay, Tenpay, UnionPay electronic payment, Fast money and other top ten enterprises occupy nearly 90% of the market share. In 2011, Alipay ranked first in the market with 49% of the market share, occupying half of the Internet payment market. Tenpay came in second with a 20.4% market share; Unionpay Online and Fast Money ranked third and fourth with 8.4 percent and 7.5 percent of the market, respectively.

    Steel is a bulk commodity, and in view of the characteristics of these bulk commodity trading industries, such as large payment amount, high capital security requirements, detailed receipt information, and margin trading, some special third-party payment channels have been opened to meet the payment needs of the growth of online trading volume. At present, there are more third-party payment applications in the steel industry, such as Guopay, Tenpay, Yinpay Electronic Payment, online lending, Today's manager, Enterprise Fubao, Tonglian Payment, Dongfangtong, etc.

5. Advantages of third-party payment

Since the development of the bulk commodity electronic trading market, the means of payment adopted have experienced the development process from the traditional bill payment to the latest bank channel payment. According to the method of payment, the payment means of bulk commodity electronic trading market can be divided into offline payment and online payment. Offline payment includes bill payment, bank card payment, exchange and other payment methods; Online payment includes traditional online bank payment, bank channel, etc.

    At present, the iron and steel industry online transactions, fund settlement is mainly the use of bank transfer, less support banks, high transfer costs, long time to the account, the financial workload is very large. The use of third-party payment can generally shorten the settlement cycle and improve the utilization rate of funds; Provide professional receipt proof, easy to do the account billing; Transaction funds immediately to the account, fast withdrawal speed; Deposit payment, freezing, unfreezing. Moreover, it supports many bank channels and high payment limits; Payment is safe, reliable, convenient and fast. Save the top-up transfer fee, inter-bank problems such as trouble. Moreover, nowadays most third-party institutions have a variety of payment methods such as gateway payment, point-to-point payment, credit card quick payment, telephone payment, and swipe card payment, providing intermediary guaranteed transactions and instant arrival transactions.

    All in all, third-party payment will become the main way and inevitable trend to guide online consumption into the track of healthy development and promote the improvement and development of China's online payment. The third-party payment service will also become one of the important links to free from the trouble of integrity and move towards the next milestone, and become a booster for the development of e-commerce.