What is Hefubao? Hefubao Review, Features

Hefubao was founded in 2014 and is committed to helping enterprises solve problems in fund collection and payment, account management, and fund compliance in one stop.

About Hefubao

As a provider of aggregated payment technology, Hefubao has integrated the mainstream payment channels in China to achieve one-stop management of payment methods. As a service provider for banks, Hefubao builds a data exchange bridge between enterprises and banks through its own payment system, ensuring the consistency of account information between the financial system and the bank's comprehensive business system.

Corporate Culture

• Responsibility is the distinctive feature of Hefubao.
• Rigorousness is Hefubao’s attitude.
• Innovation is the driving force of Hefubao.
• Transcendence is the purpose of Hefubao.

Products and Services

1. Aggregate Payment

Aggregate payment integrates multiple payment methods including online banking, quick payment, payment on behalf of others, collection on behalf of others, WeChat, Alipay (H5/WAP/official account/mini program), etc., to provide merchants with a more convenient and efficient payment experience.

1. Payment scenario application form

H5 page, APP, stand-up payment, WeChat official account, WeChat applet, mobile web page, PC web page, scan code payment, smart POS.

2. Mainstream payment channels

WeChat, Alipay, JD.com, and UnionPay omni-channel.

3. Mainstream payment products

B2C online banking payment, B2B corporate payment, collection on behalf of others, payment on behalf of others, online banking, bank quick payment, WeChat APP/main scan/scanned/official account/mini program payment, Alipay APP/main scan/scanned/window/H5 payment, UnionPay H5/Cloud QuickPass scan code/cardless payment/payment on behalf of others/B2B, QQ wallet.

2. Account splitting system

Easily manage transactions and accounts across the entire platform, and efficiently clear accounts for multi-level merchants.

1. Features

Efficient, flexible, convenient and fast.

2. Usage scenarios

Applicable to account management, settlement configuration, financial reconciliation, etc. of complex multi-level merchants.

3. Advantages

Compliance with regulatory requirements, flexible access, financial empowerment, efficient and flexible account splitting, reduced reconciliation dimensions, and multi-industry solutions.

4. Cooperation process

Confirm cooperation, qualification review, sign agreement, open account, system development and testing, and platform parameter configuration and launch.

3. Intelligent Clearing

Smart clearing products classify, manage in layers and calculate by item the funds in customer settlement accounts, so as to comprehensively and accurately grasp the payment of counterparties, the flow of funds in various branches and the collection of funds by dealers. A variety of detailed accounting ledgers are opened under a single account to record information such as income and expenditure details and deposit balances. The clearing sub-accounts do not participate in the internal accounting of the bank.

1. Product advantages

Sub-accounts can make external payments, support multiple channels, provide convenient inquiries, have flexible authority control, and can open and clear sub-accounts by themselves.

2. Scope of application

• Enterprises, institutions and government agencies that do not have legal person status and have independent accounting needs;
• For enterprises with many internal organizations, separate settlement and accounting are carried out to facilitate internal management;
• There are many downstream buyers, and accurate matching is required to ensure fast delivery, while facilitating accounting and reconciliation for internal finance;
• There are many non-independent legal entities under the company and they are widely distributed in different regions. The headquarters company acts as an agent for settlement and conducts real-name collection and payment.
• Large markets or business districts that require secondary clearing of POS payments from individual stores.

4. Enterprise Payment

Merchants entrust banks to pay funds in their bank accounts to designated bank accounts. This product supports payments from large numbers of corporate and personal accounts. It can greatly save the financial costs of enterprises and improve business processing efficiency. It provides enterprises with a safe, fast and reliable payment experience.

1. Product Features

• Usage: It supports merchants to log in to the backend and can also be managed on their own platform through the API interface.
• Payment method: The merchant backend or API supports single payment or batch payment, and merchants can use it as needed.
• Payment compounding: batch payment review function to avoid remittance errors and improve the security of fund withdrawal.
• Detailed query: Provides functions such as payment order query, account detail query and statement acquisition.
• Supported banks: Support all domestic banks with UnionPay logo.
• Supported account types: debit card, corporate account.
• Transaction limit: The single transaction limit is divided into two ranges, 0.01-50,000 yuan/more than 50,000 yuan.

2. Advantages

High success rate, real-time payment, various forms, real-time feedback, limit advantages, and abundant channels.

3. Cooperation process

Negotiation of cooperation intention, review of electronic materials, test connection, issuance of formal parameters, and project launch.

V. Fund Supervision

The fund flow process requires multiple step-by-step reviews by banks and customers before the payment can be completed in the fund supervision scenario. We provide four supervision modes: information service, bank supervision, third-party supervision, and bank supervision + third-party supervision; multiple customer service channels; and a set of in-house service processes to provide customers with a variety of fund supervision solutions.

1. Product highlights

• Blockchain (private chain) technology can be deployed, which is more secure, private, trustworthy and has faster transaction speed;
• Online and offline channels are compatible, ensuring the safety of transaction funds while improving the timeliness of fund circulation and enhancing customer experience;
• Organic integration of bank supervision and customer supervision: Multiple supervision modes are integrated into a set of supervision service systems that are compatible with multiple service scenarios;
• One-to-many account project system, customers can set up ledger management and separate accounting under the supervision account according to their own needs such as fund purpose and fund nature, without having to open a separate account for each project;
• We adapt to the financial needs of emerging mobile and platform-based industries, take into account the needs of traditional industry customers, and truly meet the diverse needs of customers from the customer's perspective.

2. Business Process

6. Payment System

1. Aggregate payment system

Aggregate the payment capabilities of multiple banks and third-party payment platforms, provide multi-channel payment methods, simplify merchants' payment docking, and unify management; system functions include application management, merchant management, bank management, settlement management, transaction management, account management, system management, bank-enterprise direct connection, agent management, mobile payment and other functions.

2. Third-party payment system

The payment clearing and settlement system developed for the Internet third-party payment platform is safe, convenient, and fully functional. The product is positioned in various payment scenarios such as B2C and B2B. The product backend can flexibly connect to multiple banks and third-party payment companies, and the frontend supports a multi-level merchant system. The payment gateway supports multiple payment methods such as account payment, quick payment, online banking payment, credit payment, QR code payment, and agency transfer.

3. Product advantages

Easy access, powerful functions, safe and stable.

4. Cooperation process