Xing Baohua shook his head slightly and said, "I can't answer your questions for now. The money spent on promotion is not limited to one city or one country, but is a widespread promotion. This money will be used to promote the European and American regions."
Furthermore, the promotion strategies in Europe and America are completely different from those in Japan; it's much more expensive there. The 50 billion yen might run out quickly, requiring another round of financing. As for going public, it will happen once user penetration reaches a certain level.
Xing Baohua did not provide an answer regarding the user adoption rate.
Representatives from the Quantum Fund wanted to make a bet with Xing Baohua: what user penetration rate Xing Baohua needed to achieve when he spent 10 billion US dollars, and what percentage he needed to achieve when he spent 30 billion US dollars.
Xing Baohua simply told the other party to get lost; he had no time for a bet with them. Did they really think they couldn't make it through just because they were missing a few measly coins? Didn't they see how anxious the other venture capitalists who didn't get their shares were?
Take it or leave it. If you want to gamble, wait for the opportunity to play with you properly.
Thus, a $50 billion angel round of financing ended, attracting reports from major financial media outlets around the world. After the financing, π Group will continue to burn money, this time leading the world in stimulating consumption to revitalize the sluggish economic market.
If we're talking about truly meritorious deeds, we have to look to Xing Baohua, who enabled ordinary people to buy their desired items for less money.
But just then, several companies on the Japanese side seemed to have found a loophole. They collectively acted as compradors, using personal accounts to purchase goods or raw materials for the company.
Why does this happen? In areas where π Payment's sales representatives can't reach, merchants can register themselves. As long as their products are found by customers, orders can be placed and transactions can be completed.
Both parties will profit in the first transaction: the buyer gets a discount, the seller gets a subsidy, and π Payment will lose money.
However, with the increased transaction volume, after detailed calculations, buyers found that they had saved a significant amount of money compared to the original price after the discount, especially in terms of taxes.
One, two, three, and that's how it started.
Larger transaction volumes mean larger subsidies. However, this also leads to an ever-growing pool of funds within π Payment.
Don't underestimate the amount of money locked up for three days. As time goes on, the amount continues to grow, from 100 million a day to more than 1 billion a day.
Taking advantage of this time difference to allocate several hundred million yuan will not have any impact on the overall payment.
At this point, all the shareholders understood Xing Baohua's intentions. With a little mental calculation, they could tell that this was a super-large market worth trillions of yuan.
Burning through tens of billions in the early stages is quite easy, and it might not even be possible, even if it takes two or three hundred billion. As long as the global market is established, it will become a super international bank, and could even break down the cumbersome clearing functions between banks in different countries.
This would establish a standard for currency clearing between countries, and Pi would be used as a digital currency pegged to the US dollar.
Americans are happy, and so are the people on Wall Street.
The Japanese were frustrated. In the beginning, the currency was the Japanese Yuan, but how did it suddenly become the US Dollar?
There's nothing we can do; the US dollar is so powerful that it's become a globally popular currency. Xing Baohua wants to peg it to the national currency, but is that even possible?
You should take a look at the faces of Americans.
Once the European and American markets are established, the support of banks in those countries will be needed to link local bank cards. Fortunately, the Wall Street players are coming in, and they all want to support their own banks. Moreover, linking bank cards is also beneficial to them.
In this way, settlements between banks were uniformly settled in US dollars through the π payment method, which required a three-day settlement period.
One advantage here is that it avoids the problem of exchange rate differences.
Three days can help avoid large fluctuations in foreign exchange rates, regardless of whether the price goes up or down, the calculation is based on the price three days ago.
This is a huge advantage; if used well, it can make money; if used poorly, it can have the opposite effect, which is its biggest drawback.
Fortunately, everyone can accept this model.
Xing Baohua carved out a new financial path by using consumer shopping as a means of business.
Fortunately, it wasn't his exclusive business; friends and enemies alike were all on the same side, forming a vast financial empire.
Shopping? I only make a little money from that!
The real goal is to connect financial channels.
Insurance, funds, foreign exchange, precious metals, stocks—invest in everything that's worth investing in.
Finally, let's offer a credit loan. First, let the shareholder banks participate, taking a cut. For credit cards applied for through the π payment platform, we need to give them a certain percentage of the commission.
That's not all. If you use a credit card, you have to pay it back, right? You also have to use π Pay to pay it back, and they only charge a 0.1% service fee.
They thought that was the end of it. After the users applied for credit cards for all the shareholders, they could see the users' basic information through the backend data. For high-quality customers, they would open an extra loan channel for them.
The most profitable business in the world isn't swindling or cheating, but lending.
Everyone says banks make money, but how do they make money? They make money by lending money, and if you can't repay it, they take your assets and auction them off. That's the kind of money they make.
I remember a previous report about a young man who had a rather unfortunate experience. He made a down payment on an apartment, totaling over 900,000 yuan, got into a fight after drinking too much, and ended up in jail for three years.
After being released, he discovered that the bank had sued and auctioned off his house. The auction itself wasn't the problem; he just needed to settle the accounts. However, the auction price was over 600,000 yuan. Adding three years' interest to that 900,000 yuan, the total came to over 100,000 yuan. In the end, the young man found that he had lost his house and now owed the bank nearly 400,000 yuan.
He even felt that the way he came out was a bit wrong. How was this account calculated?
This is the downside of not understanding the rules. If someone legally uses all the rules of the game to play against you, how can you possibly win?
My dear reader, there's more to this chapter! Please click the next page to continue reading—even more exciting content awaits!
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