What is the difference between Alipay and online banking?

Online banking, as the name suggests, refers to banks that conduct business through information networks, and refers to the financial services provided by banks through information networks, including traditional banking services and emerging services brought by information networks. AlipayIt is a transaction payment platform provided by a third-party independent institution, which has signed a certain contract.

Alipay is an intermediary for the direct flow of funds between merchants and customers, while online banking is the direct flow of funds between direct customers and merchants.

For example, if you go to the supermarket to buy something and you are using a third-party platform (such as Alipay WeChat scan code) to pay for your mobile phone, the price is Alipay.Since your funds are paid through a third-party platform, there is a process for entering a password to confirm the item.Online banking pays directly to the merchant, such as direct transfer to the other party's bank card.

What is the difference between Alipay and online banking?

Alipay must rely on banks to clear funds

According to the relevant laws of our country, Alipay institutions must put the account of the reserve fund in the custodian bank, and separate the customer funds and free funds to prevent the customer funds from being embezzled.At the same time, payment institutions cannot clear funds by depositing money with each other.In other words, Alipay agencies can only clear funds between internal accounts, and once inter-bank clearing is involved, the bank must be used for funding.

high bank credit

As an institution specializing in financial services, the bank's regulatory measures are very strict.In the case of Alipay, banks have higher creditworthiness and richer funds.At the same time, online banking is also more secure than Alipay.Therefore, after online banking improves the user experience, it will have a significant impact on Alipay.

Advantages of Alipay:

The third party is the result of online online payment innovation, so for Alipay, innovation is its most important competitiveness.From the perspective of business innovation and technological innovation, Alipay has achieved good results, such as the one-click business proposed by Alipay.By binding third-party accounts and bank cards, customers only need to enter the transaction password.Payment services can be completed, which allows users to experience a smoother transaction process.Compared with Alipay, the innovation ability of online banking is weak, and it is even an imitation of Alipay.

Close to needs, focus on user experience

Alipay can be integrated with the online banking system and has the characteristics of stability and security.Therefore, it can be said that Alipay has the security functions of online banking on the one hand, and humanized and convenient services on the other hand.Alipay, represented by Alipay, not only meets the needs of online shopping.It can effectively achieve full payment for users.This type of payment business already involves banking, but is related to banks.It is more focused on user needs than Alipay, and the solutions provided are also more user-friendly.