Rebirth: Starting with 10 Billion Us Dollars

14: Chapter 14: Adding More Red Envelopes to Disrupt the SituationTaking a ride requires payment, and mobile hailing naturally requires mobile payment. This was inherently the perfect opportunity to promote mobile payment, yet Penguin completely missed it. Otherwise, they wouldn’t have meekly accepted Chen Mo’s two-yuan transaction fee per ride, instead becoming the supplicant party.

Without the traffic support from Fetion, Penguin had long lost the confidence to compete in the payment market, even losing the desire to research it.

In this era, technological development has always been driven by demand first, which then creates the market, followed by R&D investment. Those demands artificially hyped by capital are ultimately just a game of hot potato—seeing who is left holding the last one.

As for Alibaba, even if they saw the potential of the payment market, they would absolutely not alert Penguin. Instead, they would be delighted to see Penguin and Tianxing fight more fiercely, as the feud between Tianxing and Alibaba was far less deep than that between Penguin and Alibaba.

Meanwhile, after Ride-hailing service’s order volume through the Fetion portal broke one million, Chen Mo immediately made his move, using his usual tactic: distributing red packets.

If passengers used the Ride-hailing service Fetion Mini Program to hail a ride, instead of paying directly, they would scan the driver’s Fetion QR code to pay. The passenger would get a one-yuan discount, and the driver would receive a one-yuan cash reward.

Chen Mo had directly embedded this QR code into the Mini Program. When the cooperation agreement was signed, Fetion held all the rights to interpretation. Never mind adding a QR code; even changing the program itself, Ride-hailing service and Penguin would be powerless.

When Penguin learned of this, they were furious to the point their teeth ached.

The two-yuan transaction fee per ride was paid by them, yet Chen Mo used that money to promote his own payment system—clearly a case of getting something for nothing!

What made them even more incensed was that they only realized now that Chen Mo also needed Ride-hailing service to help promote the payment system, finally giving them capital to negotiate again.

As expected, as soon as Fetion introduced the two-yuan red packet subsidy, the balance between Ride-hailing service and Fast Ride was instantly broken.

In 2012, one yuan could buy two steamed buns. Drivers benefited even more; thirty rides a day meant thirty yuan, and nearly nine hundred in a month. In a smaller city, that was almost equivalent to a regular salary.

Instantly, all the drivers only accepted Ride-hailing service orders, and Fast Ride was completely ignored. Most passengers had Fetion on their phones, making it convenient to use Ride-hailing service too. Fast Ride’s order volume instantly plummeted by more than half.

How could Alibaba tolerate this? Fast Ride immediately upped the subsidy, directly adding three yuan—one yuan more than Fetion—and required payment via the Alipay QR code to claim it.

This immediately caused both drivers and passengers to flock back to Fast Ride, and Ride-hailing service’s order volume began to drop.

Within two days, Ride-hailing service’s CEO, Cheng Wei, followed by Penguin Director Peng Jian, rushed anxiously to Tianxing Technology.

In Chen Mo’s office, the floor-to-ceiling window was open, and the hot wind of the Magic City rolled in with the bustling traffic below. Chen Mo leaned back in his chair, looking at the two anxious men before him with a slight sneer playing on his lips.

He knew clearly in his heart: the last time Brother Ma came personally, he knew he was going to be fleeced, so he acted magnanimous and didn’t haggle. This time, sending a director meant they were here to bargain. This kind of matter would lower Brother Ma’s standing.

”Mr. Chen, you must increase the subsidy amount!” Cheng Wei spoke first, sweat already beading on his forehead.

”Fast Ride added three yuan; if we don’t match it, we’ll lose all our orders!”

Peng Jian took over, looking serious, completely disregarding Cheng Wei’s feelings: ”Mr. Chen, you know clearly that the prospects of the mobile payment market are far greater than the ride-hailing market. This is a surefire profit-making business! Right now, you, Tianxing Technology, are the biggest beneficiary of promoting payment. You can’t expect us, Penguin, to foot the entire subsidy bill, can you?”

What he said was true. The payment market seemed risk-free. Even just earning interest on the money users stored in it would be a huge sum, not to mention gaining control over abundant cash flow.

If Fetion didn’t have such a massive advantage now, and the cost to defeat it was too high, Penguin would have wanted to revive WeChat and fight back.

Chen Mo heard this, shook his head, and replied firmly without leaving any room for negotiation: ”I’m sorry, this is all I can do. Before long, I will have to cancel this two-yuan red packet subsidy. As for the payment market, if you think it’s good, feel free to enter and compete; I won’t stop you.”

Peng Jian was instantly stunned, his eyes wide: ”Mr. Chen, you plan to cancel the subsidy?”

He was calculating the figures in his head: Ride-hailing service currently had nearly two million orders daily, seventy percent of which came from the Fetion portal. The transaction fees alone amounted to over three million yuan for Chen Mo daily, nearly one hundred million in a month.

Fortunately, Chen Mo was using this money for red packets, easing Ride-hailing service’s pressure. If Chen Mo withdrew the subsidy, Penguin would have to cover these two yuan themselves, otherwise Ride-hailing service would immediately be crushed by Fast Ride!

”What? This is my money. I can give it out as I please and withdraw it as I please. Do I need to report to you?”

Chen Mo raised an eyebrow, his tone slightly lighter but carrying unquestionable dominance. ”Right now, you are the ones competing with Alibaba, not me, Tianxing Technology. Why should I spend my money for you?”

Cheng Wei anxiously rubbed his hands: ”Mr. Chen, if you withdraw the subsidy, the promotion of Fetion Payment will also be affected. Fast Ride is currently pushing Alipay hard; we can’t afford to lose!”

”Lose?” Chen Mo smiled, picking up the Fetion Payment data report from the table and shaking it. ”I was just letting everyone get familiar with the QR code payment method. Now that Alibaba is helping to promote it, the effect is the same. The payment market is huge; I’m not greedy enough to want to swallow it all myself, nor would the state allow it. To put it plainly, I just added fuel to your subsidy war. Now that the fire is blazing hot enough, it’s natural for me to withdraw.”

Peng Jian wanted to say more, but Chen Mo waved his hand, his eyes showing no patience whatsoever. ”That’s all I have to say. If you can accept it, continue the cooperation. If not, you are free to leave. The doors of my Tianxing Technology are not a place for haggling.”

He knew perfectly well that the payment market would ultimately only leave room for two non-official players. Between Penguin, Alibaba, and Tianxing, one was bound to exit.

Without WeChat, Penguin was a toothless tiger. If a choice had to be made, allying with Alibaba to push Penguin out would be the easiest path.

After speaking, Chen Mo called out, ”Zhang Kai! See our guests out.”

Zhang Kai immediately entered and made a gesture to usher them out. Cheng Wei and Peng Jian’s faces turned pale and then ashen. They wanted to say something but were suppressed by Chen Mo’s imposing aura, eventually leaving crestfallen.

The only reason Chen Mo met them personally was because of the several million yuan in transaction fees per day. Otherwise, Penguin sending just anyone wouldn’t warrant his appearance.

The next day, Chen Mo kept his word and immediately canceled the two-yuan red packet subsidy for Ride-hailing service.

Penguin had no choice but to cover the cost themselves. Whether they intended to fight Alibaba to the death or show off their strength in front of Chen Mo, they not only covered those two yuan but also added another two yuan on WeChat and Penguin Messenger. In total, using these two apps for rides yielded a six-yuan red packet, double what Alibaba offered.

Only then did netizens realize that WeChat hadn’t completely died yet. However, even more people didn’t even know what WeChat was.

At its peak, WeChat only had one hundred million users. Now, with fewer than fifty million remaining, it had long since lost its momentum.

Penguin’s increased subsidy pushed the ride-hailing war into a white-hot frenzy. Drivers on every street corner were muttering about Ride-hailing service’s six-yuan red packet and Fast Ride’s four-yuan red packet. Passengers chose whichever offered more subsidy, paying no mind to the capital struggle raging behind the scenes.

Chen Mo stood before the floor-to-ceiling window in his office, looking at the lively street scene below, a faint smile on his lips.

This was the exact effect he wanted. The fiercer the fight between Penguin and Alibaba, the faster the adoption rate of Fetion Payment and Alipay would be. By the time they ran out of money, they would discover that the payment market had already been largely carved up, and Penguin, ultimately, lacked the confidence to contend with Tianxing and Alibaba.

As for WeChat, no matter how much Penguin tried to prop it up, it couldn’t make any waves under the crushing pressure of Fetion.

What Chen Mo truly guarded against now was the entire Penguin conglomerate, as the payment market cake could not accommodate three players; one would inevitably leave. And Penguin, having lost WeChat, was undoubtedly the softest target.