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Alipay has another big trick: open multiple Huabei with the same ID card. Netizen: You want me to buy it again? Recently, Huabei suddenly relaxed the restriction that one ID card can open a Huabei account. Earlier, one ID card was used for one Huabei account. Now, users are allowed to open 3 Huabei accounts at the same time. I personally think there are several main considerations for this move. .

1 Short-term interests help Double 11: The timing of Huabei opening multiple accounts can be said to be very subtle. It is done at a node when the Double 11 war has begun this year. To a certain extent, it is to help Double 11, so that Users in need can buy and buy better. This basically kills two birds with one stone. On the one hand, it can increase the transaction volume of Double 11 itself, and at the same time, it can also expand the market scale of Huabei itself.

2. Long-term expansion of Huabei’s scale: Huabei’s development in previous years was relatively smooth, but it encountered major setbacks in 2018, with its annual profit plummeting to only 367 million yuan. In order to save this situation, Alipay launched various Huabei activities at the end of 2018 and this year to increase activity and capture new users.

The core goal of allowing more Huabei with a single ID card this time is obviously to attract users to increase activity, further increase the overall market size of Huabei, and ultimately obtain its own profits from it.

. Market scale relies on capturing existing users: There has always been a demand for multiple Huabei accounts in the market. Although Alipay can open Family Pay, payment is mainly based on balance, Yu'ebao, and bank cards, and does not support Huabei. . Now that you have opened multiple Huabei accounts, you can use your new Huabei accounts directly to your relatives and friends, allowing Huabei to effectively capture existing Huabei users and further increase Huabei’s usage activity.

4. Pressure from competitors: There was news in the early stage that WeChat will launch a credit payment product similar to Huabei. Although it has not been launched yet, it is not sure whether it is true or not. However, as WeChat Pay is Alipay’s most powerful competitor, it is impossible for Ant Financial not to guard against it.

Now that Alipay has opened multiple accounts for Huabei, it can be seen as a defensive measure for Ant Financial. Before WeChat officially attacks, it will lay out the situation first and use its advantageous position to further occupy the commanding heights.

Taken together, Huabei’s move fully takes into account its own short-term interests, long-term planning, and possible future market competition. In the end, it is all to consolidate its market position, further increase its market size, and completely get out of the predicament of plummeting profits.

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