A number of ** suspended Alipay channel

Several funds suspend Alipay channel

A large number of fund companies are suspending their cooperation with Alipay on the currency fund and bond fund channels.

In recent days, a number of fund companies, including E Fund, Guojin General Fund, Industrial Global Fund, Xincheng Fund, and Sea Fortis Fund, have announced that they suspended the purchase of Alipay channels, conversion and regular fixed investment services. Currently suspended payment channels for Alipay are money and bond funds. Nandu reporter learned from the industry’s exclusive that Alipay was stopped behind by a large number of fund companies. Alipay started to collect payment fees for currency funds and bond funds. “Originally, the profits of money funds and bond funds are very thin. Alipay is asking for prices. Fund companies can only stop cooperation with Alipay.” A third-party payment company official told the Southern Reporter.

Alipay strong asking price

In recent days, according to incomplete statistics from Nandu reporters, at least seven companies, including Guojin General Fund, Xincheng Fund, Industrial Global Fund, Huaxia Fund, Bossi Fund, Haifutong Fund, E Fund, etc., all issued announcements that the Alipay channel will be suspended. Subscriptions, conversions and regular fixed investment services are not affected by other channels. According to the announcement, the currently suspended payment channels for Alipay are money and bond funds.

In the fund company announcement, some fund companies understated the reasons for suspending cooperation with Alipay. For example, the first sentence of Haifutong Fund's announcement stated that “as the cost of payment increases, it is to protect the interests of investors.” And for why the cost of payment has risen, various fund companies have not started. In response, Southern Reporters learned from the industry that the main reason for Alipay's request was to increase the company's handling of money and bond funds.

A person from a large-scale fund company's e-commerce department told reporters that there are many channels for consumers to purchase funds on the fund's official website. In addition to the bank channels, they are similar to Alipay, remittance and other third-party payment channels. In this regard, relevant channel parties charge fees for fund companies. A third-party payment company official told the Southern Reporter that a general third-party payment company charges a six-thousandths of a fee for the General Fund, and also charges the fund company three-thousandths to four-thousandths of the fee, but due to the currency The profits of fund and bond funds are inherently thin, and generally third-party payment companies do not charge money funds and debt funds. “But Alipay and the fund company are very strong when they negotiate.” A person from the e-commerce department of a large fund company told Nandu reporters that in this case, the fund company has been taking the practice of suspending Alipay channels.

Fund companies are reluctant to be slaughtered

It is reported that at present, in addition to the traditional over-the-counter trading, fund companies have also launched an online trading platform. And through online trading, investors generally receive corresponding discounts when purchasing funds. For instance, fund companies such as Harvest, Guangfa and China Shipping have launched “0 handling fee” to purchase online designated open-end funds; E Funds, Wells Fargo, South China, China Merchants, Wanjia, Guolian An and other fund companies have hit a discount on direct purchase fees; there are also many fund companies Online subscription is a 40% discount or a 70% discount.

“Under such a low subscription fee, if the payment channel cuts another knife, it will definitely damage the interests of investors or fund companies. The next will see more fund companies will issue announcements, stop Alipay channel subscription, or adjust direct sales. Discounts on online transaction rates,” said a reporter from the fund industry’s report to Nandu. Similarly, Nandu reporters learned from a number of different fund companies.

Alipay has a strong asking price for currency funds and bond funds, or for their own interests. A third-party payment market leader told the Southern Reporter that the current fund payment, the larger market share is Tonglian payment and remittance to the world. Alipay’s market share in fund payments is not large. "For Alipay, giving up a small market share and protecting its own interests are more likely." The above-mentioned third-party payment market official told Nandu reporter that for Alipay, the equity issue of Tianhong Fund has been To solve, it is very reasonable to protect the balance of funds to abandon the markets of fund funds and bond funds that have little market share.

In fact, Alipay has set a precedent for hard-charging fund companies. Previously, in order to protect the interests of its own holdings of funds, Taobao relied on the tariff policy to force the fund companies to delist their currency funds in Taobao. At the end of last year, Taobao Finance adjusted the fund company's service fee for selling fund products to Taobao. The money fund and equity funds would charge a 0.3% service fee, resulting in the withdrawal of all money funds from Taobao fund shops except for the balance fund.

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