After the release of Cloud QuickPass, Zhang Yida immediately convened a meeting with Ruixiang’s senior executives.

After Lin Zhenyang became a father, he has matured a lot.

He was the first to say: "These are here to pick the fruits of victory. When the market is mature, they will come."

Zhang Yida smiled and said: "Then do you think they have a chance?"

"We can't underestimate them. Their relationship with major banks is incomparable to ours."

Lin Zhenyang's face was heavy, and he continued: "We have tested their products, and the advantages compared to ours are mainly reflected in several aspects such as security, near-field payment, and higher payment limit."

Zhang Yida nodded and motioned for him to continue.

"Since China UnionPay entered the market in 2002, it has achieved fruitful results. Most merchants support the use of China UnionPay POS machines for credit card transactions.

At present, there are more than 7 million POS machines supporting "Cloud Quick Pass" in my country, and the number of merchants supporting "Cloud Quick Pass" POS machines worldwide has exceeded 10 million.

As a sub-product of UnionPay, "Cloud QuickPass" will be led by UnionPay's advantages in the market, which will greatly reduce its resistance to entering the market."

"Yes," Zhang Yida nodded, "As soon as I opened the POS machine, I directly gained millions of merchants."

Lin Zhenyang added: "Although they have certain basic advantages, whether these advantages can be transformed into results remains to be tested."

Zhang Yida asked with a smile: "What do you think?"

“The first is the time of entry. UnionPay Commerce’s current market share in mobile payment is less than 1%;

The second is the lack of scenario-based payment. At present, we, Alipay and WeChat Pay have almost captured the online scenarios that can be captured;

The third is that users are accustomed to using it, and habits are difficult to change.

If UnionPay’s products continue to dazzle users as before, the future is not optimistic.”

After listening to Lin Zhenyang's analysis, Zhang Yida also felt that the other party was right.

Although UnionPay burned billions in its previous life and had a user base of more than 200 million, its activity was very poor.

There are many reasons, the most important one is related to ecology.

Payment is through Ali e-commerce, and WeChat payment is bundled with social networking.

Mobao Pay is now also bound to several e-commerce websites such as Pinduoduo and Xiaohongshu, but its size is still not comparable to Ali.

Unless Pinduoduo crushes Taobao one day, it is basically impossible for Mobao Pay to catch up with Alipay.

Zhang Yida doesn’t think so much anymore. It would be nice to be able to form a three-legged alliance with Alipay and WeChat Pay.

After making corresponding arrangements, Zhang Yida turned his attention to the "Notice on Regulating and Rectifying the "Cash Loan" Business" jointly issued by the regulatory authorities a few days ago.

There is not much content in the notice. The most important thing is that the lending platform is required to maintain the red line of 36% annualized interest rate.

In addition, there is another article: No organization or individual is allowed to operate the lending business without obtaining the qualifications to operate the lending business in accordance with the law.

This is not a problem for Ruixiang and several other companies under his umbrella, because they all have corresponding financial licenses.

But for some anti-aircraft artillery platforms, it will cost them their lives.

Many people blame Lu Min for the new regulations issued by the regulatory authorities.

The lender turned it into a listed company with a market capitalization of tens of billions of dollars, and venture capitalists showed off in various ways.

With such a high profile, if you don't mess with me, who will?

It is simply one company that has brought down the entire industry.

Lu Min was naturally troubled. He felt that he had also been cheated by reporters and investors. It was none of his business.

In addition, following the notice issued by the regulatory authorities, several mutual financial companies listed on the US stock market also experienced a sharp decline.

Yimin Wangjin, Yimin Dai, and Zhang Yida's two companies suffered the worst declines. The market value of one fell to US$6.85 billion, and the market value of the other fell to US$3.72 billion, both of which were close to the issue price.

Because Yimin Wealth is a third-party wealth management company, its performance is slightly better, with a market value of US$2.87 billion and a relatively stable stock price trend.

However, since the beginning of the year, Zhang Yida has been arranging for his family office to help him reduce his holdings.

Yimin Wangjin has reduced its holdings the most, with a total of more than 300 million U.S. dollars; Yimin Dai and Yimin Wealth have reduced their holdings less, both exceeding 100 million U.S. dollars.

However, as the stock price plummeted, Zhang Yida stopped reducing his holdings.

You have to take care of it. If you continue to reduce your holdings, the stock price will collapse.

…

"Yida, Standard Chartered Bank has relented. They are willing to sell Gemstone Bank shares."

When Zhang Yida received Huang Hongnian's call, he was also surprised. Why did the British guy suddenly change his gender?

"It's been more than a year, how did they figure it out?"

Huang Hongnian laughed and said, "You have done too many bad things!"

Zhang Yida obviously doesn't believe this, there must be some unknown secret.

"What's the price offered by Standard Chartered?" Zhang Yida asked. If it was too high, he would definitely not get ripped off.

Huang Hongnian said with a smile: "A large amount of bad debts broke out in Gem Bank. Standard Chartered Bank is anxious and is eager to sell its shares.

Now I’m contacting buyers everywhere! In addition to you, there are also Indonesia’s Guosen Bank and Thailand’s Pangu Bank, both of which are on their list of intended buyers.”

Zhang Yida frowned, bad debt? How big is the hole? Is it insolvent? It shouldn't be so, right?

"Okay, then we'll see you in Hong Kong!"

Zhang Yida did not ask too much. He believed that Huang Hongnian would not be so imprudent. Since he contacted him, it must mean that Gemstone Bank still has some value.

In fact, he has never given up on Gem Bank. If the price is reasonable, he must take it as a bridgehead.

…

After arriving in Hong Kong, Zhang Yida and Huang Hongnian came to Standard Chartered Bank for the second time.

It was Bill Winter, President of Standard Chartered Bank Indonesia, who received them.

The cunning British guy smiled broadly and seemed to have no memory of the unpleasantness that happened last year.

After asking his secretary to serve two cups of hot tea, he looked at Zhang Yida and slowly said: "Mr. Zhang, you are the most successful entrepreneur of the younger generation in China.

If you get another bank that can be passed down and become a banker, you will undoubtedly enrich your asset allocation.

Don’t you Chinese like banks the most? Gemstone Bank is a very high-quality asset..."

The British man boasted about all the advantages of Gemstone Bank, which made Zhang Yida almost yawn.

This old boy didn't have this attitude last time. He looked like he wanted to buy it or not.

Zhang Yida shrugged and said with an indifferent expression: "Actually, what we Chinese value most is China's banks, because they are the embodiment of national credit.

This foreign bank will go bankrupt if it is said to be bankrupt, and it is not considered a high-quality asset.

Didn't Gemstone Bank encounter a little trouble? Running a bank doesn't mean it's guaranteed to be stable.

Mr. Winter, do you think this is true?"

Winster smiled and didn't answer.

He looked at Huang Hongnian and guessed that Zhang Yida must have gotten the news from him.

However, with the asset due diligence process in place, he couldn't hide many inside stories even if he wanted to.

The headquarters has ordered him to get rid of this inferior asset in the shortest possible time.
Chapter completed!