Chapter 62 Newman’s NewPay

Unlike Confinity, NewPay has application scenarios first and then products.

Confinity is the predecessor of PayPal, co-founded by Max Levchin, Peter Thiel and others.

As for Musk, Musk did not become the founder of Paypal until March 2000. The company he founded was called an online financial services company.

After merging with Confinity, it was renamed PayPal.

Confinity first had encryption technology, which roughly allowed users to store encrypted information on handheld computers and PDAs. Then this product was called FieldLink, which used infrared ports to transfer information between products.

However, there are no application scenarios in the early stage. There are very few users who really need to encrypt information on PDA devices, and almost no one has this need.

Including a person named Marty Herman in the early founding team of Confinity, he is the inventor of public key encryption.

Now Marty Herman has been poached by Von Lewis to NewPay.

Confinity's background is entirely an information security company. They believe that their products are valuable only when applied in the field of electronic payments, so they transitioned to electronic payments.

The reason for the merger is that their products have no application scenarios.

Because von Louis works for Zhou Xin, the traditional verification code has not yet been invented, and the phenomenon of spam has not been curbed.

After the user pays another person, the money will be automatically credited to the payee's NewPay account, and the other party will receive an email notification, which is the email you just received.

After first registering a NewPay account, users who choose to use NewPay to purchase "Plants vs. Zombies" will enjoy a 20% discount.

It was already May, and Riot Games adopted the previous strategy of sending a large number of emails to users to inform them of the existence of NewPay.

From the status of a bank, Cao Yongluo estimated that electronic payment, which can replace some bank functions, must have very high value.

If Nokia Ventures and Deutsche Bank realized the potential of NewPay, they probably would not have chosen to invest in Confinity."

After Zhou Xin finished speaking, Cao Yongluo fell into thinking. He knew that Zhou Xin's ideas must be more powerful than his, and he cherished the opportunity to learn from him.

At the same time, if you recommend a new user to register NewPay, the recommended person will also receive $10.

The game forum is just a product of a niche field, and it has an upper limit.

"You can study the field of electronic payment carefully and use our products at the same time. You will have a new understanding."

At this critical time point, NewPay is likely to affect our financing.

The recipient can withdraw the money in the form of a check or make an electronic transfer to a bank account."

Zhou Xin: “We need to build a concept where you can stop playing games or reading forums, but you can’t stop shopping.

The Riot Games community has more than half a million users.

When Max fell silent, Peter on the other side of the phone was still chattering: "Any user only needs an email address and a credit card to open a NewPay account.

When Max Levchin opened NewPay's website, he realized something was wrong.

This quickly caused a sensation at the time.

Soon he received a call from Peter Thiel: "Look at the email I sent you."

NewPay’s expansion speed should not be that fast.”

Max replied: "I saw it, NewPay, I just opened their webpage."

Max covered his face with his hands. He liked Zhou Xin's products and the games designed by Zhou Xin very much, but when the other party is your direct competitor, this feeling is not good at all.

But NewPay is different. It has a very clear application scenario, which is to purchase video games.

A complete set of promotion mechanisms can quickly achieve user fission."

Today is the release day of "Plants vs. Zombies", and they have formulated a series of measures to promote NewPay.

But he couldn't judge the specific value.

Riot Games has accumulated a large amount of user email data, and it is no problem to send marketing emails to customers through this.

The consensus reached by the two is that Zhou Xin has the best vision in the Internet industry, and they need to learn each other's way of thinking.

Once you have shopping needs, electronic shopping and electronic payment can replace traditional offline shopping methods.

"Your friend Peter Thiel just transferred you some money! You now have $1 waiting for you in your NewPay account. Visit today to set up your NewPay account!"

At the same time, they have also developed a promotional reward program. They will give all newly registered users $10. All the users need to do is to register an account and link a credit card.

Peter Thiel's voice on the other end of the phone was a little anxious: "No, no, no, the person behind NewPay is Newman, the founder of Riot Games.

While experiencing NewPay, Max replied: "Aren't our negotiations with Nokia Ventures and Deutsche Bank nearing completion?

The only Chinese people who often come to Riot Games to see Zhou Xin are Cao Yongluo and Wu Shiqiang. Hu Zhengming usually doesn't come to the company to see Zhou Xin. He always waits for Zhou Xin to come to him in Berkeley.

"Their products do not require a special handheld computer or a special infrared interface, which means that no mobile device is required, only a computer can be used for online remittance operations."

But I don’t see a ceiling for electronic payments.”

Therefore, Cao Yongluo and Wu Shiqiang had a private chat. Cao Yongluo was still well-known in the circle, and Wu Shiqiang had heard of him. Therefore, Wu Shiqiang talked about almost everything about Cao Yongluo.

Without NewPay, Confinity would hold a press conference two months later, at which they would accept $3 million in venture capital from Deutsche Bank and Nokia Ventures through electronic payments.

Cao Yongluo had doubts in his heart: "Electronic payment?

Is it more important than the electronic community?

However, if computers are further popularized and electronic payment can replace some of the needs of banks in the future, then it will indeed be valuable."

Max said weakly on the other end of the phone: "Isn't this what we need to do after we get venture capital?

Their products are very similar logically to the products we designed, which means we crashed.

Peter Thiel replied: "Yes, they are also an electronic payment company, and Marty went to work there.

There are only three to four million users who own Palm handheld computers, but there are nearly 50 million users who own computers.

This market is not of the same magnitude.”

Peter was equally frustrated: "Yes, so if the number of NewPay users grows rapidly, investors will definitely consider investing in us again.

Don’t doubt the sense of smell of the vultures on Wall Street, especially if this is Newman’s NewPay.”

I'm procrastinating, I'm a lazy dog
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