What is Guofubao? Guofubao Review

Basic Situation

Guofubao is headquartered in Beijing, with branches in Shanghai and Guangzhou. Its domestic business covers most of the country, including North China, East China, and South China. Its international business clients are centered in Southeast Asia and Central Asia and cover all continents of the world. Its service clients cover cross-border trade, e-commerce, aviation, tourism, logistics and many other fields.

About the Team

Guofubao is managed and operated by a senior management team in the payment industry. It has a technically strong system development team, a strong product research and development team, and an excellent market development team. It actively carries out domestic and international commodity transaction payment business and is committed to becoming a leading one-stop financial service operator for small and medium-sized enterprises.

Product Introduction

1. Online Payment

1. Corporate online banking payment

Corporate online banking payment is a service provided by GABA to merchants to accept corporate consumers to make payments through online banking. Currently, GABA supports corporate online banking covering mainstream domestic banks such as Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and Bank of Communications.

Application areas: B2B e-commerce platform, enterprise recharge, etc.

Features: unlimited amount; instant payment, real-time collection; dual guarantee mechanism of automatic order replenishment and manual order replenishment, high payment success rate; support direct connection mode and cashier mode

2. Personal online banking payment

Personal online banking payment is a service provided by GABA to merchants to accept individual consumers to pay via online banking. Currently, GABA personal online banking covers the five state-owned banks including Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China and Bank of Communications, as well as mainstream commercial banks.

Application areas: e-commerce platforms, social platforms, etc.

Features: Instant payment, real-time collection; refund at any time within three months; separation of lending and borrowing to prevent cash withdrawal; support direct connection mode and cashier mode

3. Batch Payment

Batch payment is a fund settlement service provided by Guofubao for merchants to make payments to multiple designated bank accounts or Guofubao accounts. The payment recipients include enterprises and individuals.

Application areas: salary and bonus payment, insurance company commission payment, red envelope distribution, payment of goods, sales rebate and other payment scenarios

Features: Settlement is possible on holidays, service is uninterrupted; payment is supported to all domestic banks; settlement cycle can be flexibly selected, with high efficiency and fast payment; merchants can choose to connect to the API interface or use the merchant backend for payment

4. Quick payment

(1) Quick payment (Web) is a service provided by the Guofubao web cashier to merchants, which allows individual consumers to directly input card information and security authentication information, without opening an online banking account, to complete the payment. It supports debit cards and credit cards of major domestic banks.

Application areas: shopping, services, social networking, digital entertainment and other industries.

Features: Simple payment process, improved user experience; instant payment, real-time collection; high payment success rate; covers major domestic banks, achieving separation of lending and borrowing

(2) Quick payment (API)

Quick payment API is an interface-based quick payment product provided by Guofubao for corporate customers. By integrating the quick payment interfaces of various banks, customers can define payment processes and interfaces based on their own product characteristics and styles, thereby maintaining a unified product style, deepening product fit, and improving payment success rates.

Application areas: e-commerce, air travel, games, public payment, education and other online consumption scenarios.

Features: Customize the payment interface to improve product compatibility

Covering mainstream domestic banks to achieve loan separation

Instant payment, real-time payment

High payment success rate

5. Scan code to pay

Scan code payment is a service provided by Guofubao's web cashier to merchants to accept individual consumers using their mobile app wallet products to scan QR codes for payment. Users use the bank card or balance bound to the App wallet to complete the payment.

Application areas: e-commerce, air travel, games, public payment, education and other online consumption scenarios.

Features: Supports QR code scanning on mainstream wallet apps; realizes separation of lending and borrowing; instant payment, real-time collection; high payment success rate, good user experience

Industry solutions:

1. Cloud Account

Cloud account is an industry solution provided by Guofubao for enterprises, which integrates account, online payment, fund clearing and settlement, internal financing, fund planning and other services. It serves B2B, bulk industries and group corporate customers with demand for cash flow management.

2. Cross-border payments

Guofubao integrates advantageous resources to provide safe, efficient and convenient cross-border foreign exchange payment and cross-border RMB payment products for many goods trade and service trade enterprises with cross-border settlement business needs.

3. Airline Ticketing

The air travel ticketing product is an industry solution customized by GABA for the ticket payment, fund settlement, and circulation needs of direct sales, distribution companies, and platforms in the air travel industry. The target customers are air travel companies, ticket platforms, and ticket agency customers with ticket payment and fund settlement needs.

4. Aggregate payment

Aggregate payment is an innovative payment product launched by GABA that aggregates the mainstream domestic payment channels. Merchants can have a one-stop payment solution for collection, settlement and reconciliation without technical access, which provides a convenient and fast payment experience, improves the payment success rate and makes it easier for merchants to collect payments. It is applied in offline retail, ticketing, education, medical and service industries and other payment scenarios.

Development History

On December 2, 2016, Deng Ming, technical director of Guofubao, was invited to attend the Arch Summit Global Architect Summit and gave a keynote speech on blockchain technology, sharing the application of blockchain technology in the field of Internet finance and the blockchain blacklist sharing system jointly developed by Guofubao and HNA Ecological Technology.

On November 16, 2016, the 8th Financial Technology and Payment Innovation 2016 Annual Conference was held in Shanghai. Guofubao won the "Third-Party Payment Excellence Award" awarded by the organizing committee and the judging committee, fully demonstrating the outstanding contributions Guofubao has made in the fields of third-party payment and technology finance in recent years.

On November 7, 2016, Liu Tao, President of GUBA, was invited to attend the press conference of China International Electronic Commerce Expo and signed a strategic cooperation agreement with the organizing committee on the spot regarding the delegation's participation in the expo.

On November 7, 2016, the "Canada-China Cross-border E-commerce Forum and Investment and Trade Fair" was grandly held in Toronto. GABA, as the only domestic third-party payment platform, attended the forum and signed an on-site contract with Canada's Bild Alternative investment company, further expanding its business scope to the international level.

On November 2, 2016, the “Breakthrough·Sharing·Boundless” Guofubao cross-border payment product launch conference was held, and the cross-border payment product was officially promoted to the public.

On September 28, 2016, the Risk Control Department of Guofubao received a silk banner from the Public Security Bureau of Qitaihe City, Heilongjiang Province, which read "Police-enterprise cooperation, working together to overcome difficulties."

On September 24, 2016, Deng Ming, technical director of GABA, was invited to attend the "Financial Payment Technology Exchange Forum" held in Nanjing, where he interacted with technical executives from Ant Financial, Taobao, Yibao Payment, Suning Yibao and other companies. During the meeting, he delivered a speech on the theme of "Discussion on Blockchain and Third-Party Payment".

On July 21, 2016, Liu Tao, President of GOBAL, was invited to attend the China Top 100 Online Lending Enterprises Forum. At the forum, Liu Tao delivered a keynote speech titled "Technology Plays with Finance", explaining the development and trends of technology finance from multiple aspects such as the participation of large traditional enterprises, smart investment advisors, blockchain, big data, and ecological specialization. He also focused on the future planning of HNA Cloud Financial Services in combination with the development concept of "sharing, sharing, and ecology" of the Eco-Tech Group.

On June 22, 2016, Guofubao participated in the Blockchain Finance Summit and discussed with all parties in the industry the future development direction of China's economy and finance under the new normal, and the potential impact of emerging technologies represented by blockchain technology on China's economy.

On May 28, 2016, Guofubao presented a number of payment products including joint custody, cross-border RMB payment, and cloud account services at the Beijing Trade Fair.

On May 20, 2016, Guofubao obtained a cross-border RMB payment business license issued by the central bank, and cooperated with banks to provide RMB settlement services for cross-border goods trade and service trade for enterprises and individuals.

On April 12, 2016, Guofubao participated in the 2016 Yiwu E-Commerce Expo hosted by the China International Electronic Commerce Center, and promoted its business through videos and PPT in the center's exhibition area.

On March 29, 2016, Guofubao participated in the founding ceremony of HNA Ecological Technology and displayed the company's products. As an important Internet financial comprehensive service provider, it is of great significance to the development of ecological technology.

On March 10, 2016, the second stop of the "China Payment Network 2016 Large-scale Annual Series of Activities - Approaching 100 Famous Institutions" arrived at Guofubao, where we gained an in-depth understanding of Guofubao's products and development history, and conducted a full-scale report.

On March 5, 2016, GUOFUBAO signed a strategic cooperation agreement with Shenzhen Beihang University Emerging Industry Technology Research Institute. The two parties jointly established the "GUOFUBAO-Beihang University Technology Innovation Joint Laboratory" to carry out in-depth cooperation in the fields of advanced mobile payment, smart payment, and Internet financial technology innovation.

On January 25, 2016, the fifth anniversary celebration of GOBAL was held with the theme of “Five Years of Huashi, Collaborative Excellence”.

On December 12, 2015, GOBAL was awarded the "2015 China Internet Finance Top Ten Enterprises Award" by the China Electronic Commerce Association. This is a full affirmation and recognition of GOBAL's development achievements and its contribution to the healthy and standardized development of the Internet finance industry.

On November 25, 2015, the Beijing office address of GUOFUBAO was moved from the Zhongdian Development Building in Sanyuanqiao to Yonghe Hangxing Science and Technology Park, meeting the office needs of the company during its rapid development period and creating a corporate culture of striving, pragmatism, efficiency and Internetization.

On October 9, 2015, at the invitation of China Zheshang Bank, Guofubao went to Hangzhou to attend the press conference of China Zheshang Bank's "Online Lending Funds Custody Comprehensive Service Plan" and witnessed the official launch of China Zheshang Bank's P2P bank custody business. At the press conference, Guofubao and China Zheshang Bank signed a cooperation agreement. The two parties will work together to promote the healthy development of the online lending industry and provide more compliant bank custody services for online lending platforms.

On September 7, 2015, Guofubao and CITIC Bank reached a cooperation agreement on cross-border payment, fund management, data value-added and other services.

On August 6, 2015, Guofubao joined the Internet Finance Committee of the APEC E-Commerce Business Alliance as a founding member.

On May 22, 2014, the 8th China Payment Industry International Summit was held. Lu Hongyi, CEO of GUBA, was invited to attend the summit and delivered a speech on special payment services for the P2P credit industry.

On December 18, 2013, GUOFUBAO participated in the 4th Caixin Summit. Caixin Summit is the best-standard and largest series of conferences of Caixin Media and is considered one of the most authoritative and forward-looking annual events in China's economic and financial fields.

On December 15, 2013, Guofubao attended the Internet Finance Forum of the Peking University HSBC Business School Finance Forum and delivered a speech. This forum not only brought together a large lineup of Peking University HSBC Business School and its alumni association, but also built an interactive platform for elites from the investment and business circles to strengthen exchanges and deepen cooperation, providing Guofubao with a broader channel to expand its business.

On December 11, 2013, the new platform of Guofubao was launched. The new platform provides underlying support for the development of various payment applications based on multiple accounts, supports double-entry bookkeeping, and makes the platform's account management more professional, clear, and fast. A full range of operation, supervision, risk control, security and other auxiliary systems provide support for the stable operation of the platform.

On October 31, 2013, Lu Hongyi, CEO of G2B, attended the Microfinance Alliance Annual Meeting on behalf of G2B and delivered a speech, introducing G2B's P2P fund custody product - G-Shangrongtong. This product has brought new opportunities to the P2P industry and played the role of a true third-party regulator.

On October 30, 2013, GUOFUBAO participated in the 9th China Financial Expo, promoting financial development through the launch of new products and solutions.

On October 16, 2013, Guofubao launched a fund custody product in Shanghai, entering the Internet finance market. At the press conference, it signed contracts with 20 potential cooperative merchants and signed a strategic cooperation agreement with the Microcredit Alliance to further promote the development of Internet finance.

On October 10, 2013, Guofubao officially joined the Microcredit Alliance and became a formal member of the Microcredit Alliance, providing high-quality payment guarantees for Internet finance.

On May 28, 2013, GOBAL participated in the Second Beijing Trade Fair as a representative of third-party payment companies, which brought new opportunities and new developments to the enhancement of the company's value.

On February 7, 2013, Guofubao and Zhongrong Venture Capital reached a comprehensive strategic partnership and worked together to build a commodity industry ecosystem of "enrichment, sharing, responsibility and integrity"!

On January 2, 2013, Guofubao and Guofutai Credit officially signed a strategic cooperation agreement in Beijing to jointly build an electronic payment qualification review system to improve the security of user funds. The cooperation between Guofubao and Guofutai Credit has opened up the cooperation in the two major fields of payment and credit, which will improve the security of user funds, resist commercial fraud, prevent cybercrime, provide a safe, reliable and convenient business environment for payment institutions, special merchants and cooperative enterprises, and effectively promote the construction of a new market order in the field of e-commerce.

On November 30, 2012, Guofubao made its debut at the 8th Beijing International Financial Expo, providing one-stop financial services for the ecological industry and promoting the development of the domestic ecological industry.

On August 30, 2012, GABA became the designated payment platform for the official ticket sales website of the 2012 China Open, supporting exciting events and providing convenient services.

On May 28, 2012, GOBAL participated in the first China (Beijing) International Service Trade Fair at the National Convention Center. In the afternoon, GOBAL held a special discussion meeting on G-commerce and Bank-to-Bank. Director Fu Cheng of the China International Electronic Commerce Center of the Ministry of Commerce and President Zhang Junru of the Beijing Branch of the Agricultural Bank of China attended and delivered speeches. Nearly 40 commodity exchanges, 20 banks and other e-commerce companies attended the meeting.

On May 12, 2012, Guofubao became a permanent member of the Third-Party Payment Security Cooperation Alliance, marking Guofubao's entry into the leading ranks of risk control in the third-party payment industry.

On May 3, 2012, the mobile client of GOBAL was officially launched. The launch of the mobile client service marks that GOBAL has officially entered the field of mobile payment and mobile Internet.

On April 10, 2012, Vice Chairman Ding Qiang, Vice President Yang Yanping, and Assistant to the President Cao Sha attended the China Steel Market Summit Forum and the China Steel Distribution E Alliance Founding Conference held at the Shangri-La Hotel in Beijing. The conference was hosted by China Minmetals Group and co-organized by Guofubao Information Technology Co., Ltd.

On March 29, 2012, the first phase of the bulk transaction product requirements of Guofubao Technology (G-Shangyintong System) was officially released and launched, providing more favorable system technical support for the company's bulk transaction business and promoting the rapid development of Internet payment business.

On February 24, 2012, Director Liu Junsheng of the China International Electronic Commerce Center (CIECC) of the Ministry of Commerce and his delegation visited Guofubao to provide guidance. Director Liu Junsheng inspected Guofubao's office area, listened to the development strategy briefing and made an important speech, expressing his full support for Guofubao's development and encouraging Guofubao to assume the historical mission and responsibility of changing China's traditional transaction model.

On December 22, 2011, Guofubao Information Technology Co., Ltd. was awarded a payment business license, covering national Internet payment and mobile phone payment (license number: Z2005011000015).

On November 22, 2011, the online payment commodity trading business was officially launched. The transaction volume on that day reached 11.98 million yuan, breaking the 10 million yuan mark for online payment daily transaction volume.

On September 2, 2011, the third-party payment platform gateway 2.0 system of Guofubao Information Technology Co., Ltd. was officially launched.

On July 22, 2011, the MOU signing ceremony between GOBAL Information Technology Co., Ltd. and Japan's NTT Corporation was held in Beijing. GOBAL provided cross-border payment solutions to Japan's NTT Corporation, taking the lead in domestic third-party payment institutions in expanding overseas markets.

On July 20, 2011, the equity structure of Guofubao Information Technology Co., Ltd. was changed and the application for a third-party payment business license was re-publicized.

On July 1, 2011, Guofubao Information Technology Co., Ltd. officially started operations.

On June 13, 2011, the application for payment business license of Guofubao Information Technology Co., Ltd. was made public.

On January 25, 2011, Guofubao Information Technology Co., Ltd. was registered and established.

References