The case of remittance ＂Dougong＂ was affirmed by Broadcom’s analysis ＂Special Analysis of Digital Services of Payment Industry Enterprises 2022＂
Recently, Broadcom released the report "Special Analysis of Digital Services of Payment Industry Enterprises 2022". The report analyzes the digital service market of the payment industry from the external market environment, macro changes of the industry, the status quo and main modes of digital services of payment institutions and enterprises, and the future development trend of the industry.
Among them, the report focuses on the analysis of different types of payment institutions’ digital service models derived from their own characteristics, their characteristics, advantages, profit margins, differences and possible problems, so as to predict the future development direction of the industry.
● Digitalization has changed the way the market operates.
Broadcom analysis believes that the market operation mode has been transformed since the birth of informatization and digitalization. Through the change of communication tools and interaction methods, the inherent organizational form, survival mode and communication mode in the market have undergone fundamental changes. Driven by the change, more and more enterprises are "forced" to carry out digital transformation, and can continue to promote the continuous innovation of digital tools and means.
The survey data shows that the combination of online and offline modes (especially the mode of online multi-platform operation and offline operation) can better help the majority of businesses to maintain their own profit margins; On the other hand, at present, more than half (53%) of small and micro operators in China are totally dependent on offline revenue. This also reflects the contradiction between the importance of digital operation to small and medium-sized micro-businesses in China and the low level of digital operation of small and medium-sized micro-businesses in China at present.
At the same time, the interconnection and anti-monopoly policies have broken the flow factors, and the improvement of the efficiency of human, information and capital flows has also brought more room for development and innovation for payment institutions.
● Payment institutions make efforts to digitize enterprises.
Broadcom analysis believes that with the iteration of China’s network infrastructure, the digital economy has developed by leaps and bounds. With the reform of government management, the digital economy is reconstructing the business model of enterprises and the lifestyle of ordinary people. The reconstruction of this lifestyle will, in turn, affect the development decisions of enterprises and governments again.
On the aspect of enterprise investment, according to the data of external public survey, the willingness of China enterprises to invest in digitalization is increasing year by year, especially in 2022, under the impact of the epidemic, the proportion of enterprises whose investment in digitalization has increased by more than 15% has greatly increased. This brings new opportunities for the development of payment institutions.
At the same time, however, in the process of promoting digitalization, payment institutions will also face many problems, such as poor internal digitalization process, data islands, inconsistent data standards, waste of resources, insufficient digital understanding and so on. As a result, the digital service driven by external digital demand has also promoted the digital reform of internal management of payment institutions.
● Remittance of "Dougong" helps enterprises to achieve digital multi-scene landing.
Broadcom analysis shows that Remittance World, as a payment veteran who has been deeply involved in the industry for 16 years, has a deep insight into the development needs of the industry, promoted the digital transformation of the company in all directions, and completed the digital transformation and upgrading from technology, mode to management. In terms of technology upgrading, Remittance World took the lead in building a cloud native system, with a transaction stability of 99.99%; At the level of model upgrade, from providing payment products to building the first domestic payment PaaS platform "Dougong" to realize rapid customization solutions; Through the management upgrade, the efficient operation of the whole process digitalization within the company has been realized.
At the same time, Broadcom analysis mentioned in the report that remittance to the world’s bucket arch platform is based on cloud native technology to achieve low-code or no-code development. It not only greatly reduces the development cost of customized application products of partners, but also provides customized payment solutions of digital commerce for different customer groups, such as enterprise merchants, platform customers, ISV, SaaS, four-party payment, banks, acquiring outsourcing service providers, payment developers, etc., so that partners can complete the digital transformation of payment more efficiently, quickly and stably.
To sum up, Broadcom believes that the construction of the remittance world bucket arch platform not only serves remittance partners better, but also builds the underlying technical support platform for the payment digital industry and builds the payment industry ecosystem. This can not only help Remittance World join hands with customers to achieve win-win development in the field of payment digitalization, but also provide an effective reference scheme for the digital development of payment industry.
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