In my personal opinion: Lakala’s main advantages lie in: mobile payment for individual users and e-commerce for small and micro merchants, as well as the data accumulated over the years. These happen to be UnionPay’s blind spots. As for the profit model,

First, earn handling fees. Lakala collects handling fees from merchants or consumers, but the handling fees are very low. Small profits and high profits (PS: Alipay charges handling fees for recharges. There are no discounts on phone bills and point cards, so you can earn some money).

Second, the introduction said that they have launched home card swiping machines and mobile phone card swiping machines, which are not covered by Alipay and UnionPay. You can make money by selling hardware products such as POS terminals, mobile card swiping machines, and Super Shield. .

Third, the acquiring fee: charging merchants a certain rate from users to acquire orders, this part is the main force.

One family’s opinion, for reference only.