Previously, the functions of WeChat payment and financial management were mainly undertaken by Licaitong. Licaitong provides four major investment functions: money fund, stable debt base, insurance products and brokerage products. In terms of monetary fund, it is connected with fund companies such as E Fund, Harvest, ICBC, Huaxia, Penghua, Huitianfu, Nanfang, China Merchants and Guo Fu. The annualized rate of return of money funds provided by these fund companies in recent 7 days is basically between 3.02% and 3.2%.
However, the biggest problem of Licaitong is that it cannot be used flexibly after the transfer of funds. When using WeChat to pay, the funds in Licaitong cannot be automatically transferred out for payment, so the funds must be transferred out of Licaitong first, and this operation is currently limited in terms of quota and time.
Therefore, the lack of flexibility has always been a major defect of WeChat payment in small change financing, and the advent of change pass can be said to completely make up for this defect.
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Fund sales organizations provide sales services of money fund products, and fund companies provide operation and management services of money funds. Users transfer funds to the card, that is, buy their own money fund products and enjoy the money fund income. See the subscription page for the product names of the corresponding sales organizations and monetary funds.
In the process of fund sales, fund sales agencies provide investors with services such as fund product promotion, account opening, subscription, subscription, redemption and transaction information inquiry. Sales organizations do not directly provide fund products and do not participate in product investment and operation.
As the provider of fund products, fund companies manage fund operation activities such as fund product raising, fund asset investment and income distribution according to the relevant requirements of laws and regulations.
When users buy related money fund products by changing coupons, they need to carefully read the fund contract, prospectus and other product-related materials, carefully understand the investment risks of the products, fully consider their own risk tolerance, and make investment decisions independently.