Alipay and WeChat payment ushered in a rival. On May 27th, China UnionPay teamed up with more than 40 commercial banks to launch UnionPay cloud flash payment QR code products. Cardholders can realize UnionPay cloud flash payment code payment through bank APP. Prior to this, UnionPay launched NFC to enter the mobile payment market, but the results were not satisfactory. UnionPay hopes to reverse its unfavorable situation in the mobile payment battlefield. "It should be pushed at the same time on both sides, that is to say, cloud flash payment includes NFC payment, and also includes QR code payment. UnionPay focuses on cloud flash payment, instead of pushing this, it does not push that, it is a set of work. Arrangement." On June 1, a senior member of the UnionPay, who did not want to be named, told Times. The quarterly monitoring report of China's third-party payment mobile payment market released by Analysys in the fourth quarter of 2016 shows that in the mobile payment market, the market share of Alipay and Tenpay, represented by WeChat payment, reached 91.12%. , occupying an absolute dominant position, while UnionPay is 0.83%. Xue Hongyan, director of the Internet Finance Center of Suning Financial Research Institute, told the Times: On the whole, the competitiveness of the UnionPay's two-dimensional code can not be underestimated, and the offline scanning code payment market is indeed likely to usher in a new change. †On May 31, Zeng Gang, director of the Research Office of the Institute of Finance of the Chinese Academy of Social Sciences, told the Times Weekly reporter whether China UnionPay can integrate resources in the existing mechanism system, how much strength can be promoted, and whether the scene combination and convenience can A bigger breakthrough is the necessary condition for achieving overtaking. The market share of QR code payment is over 90% As early as December 2015, China UnionPay launched a cloud flash payment based on NFC-based HCE and Token technology. Compared with the QR code, it does not need to be connected to the network and does not need to be swept. The user only needs to directly light up the screen and wave the mobile phone on the POS machine equipped with the cloud flash payment identifier. After entering the password, the payment is completed. According to the report of China Unilateral Payment Mobile Payment Market Quarterly Monitoring Report for the First Quarter of 2017 released by Analysys, Alipay and Tenpay, represented by WeChat Pay, have a market share of 93.21% in the mobile payment market in the first quarter of this year, occupying Absolutely dominant position. Seeing that most of the country has fallen into the hands of others, China UnionPay has to re-examine the original strategy. Due to the large number of users of Alipay and WeChat, the popularity rate is high, and NFC has high hardware requirements and few payment scenarios. The usage rate of QR code payment has been significantly ahead of NFC mobile phone payment. The above-mentioned insiders of UnionPay said to Times Jun: The first is that the application scenario is different. Like the NFC mode, it has its convenience in public transportation and other transportation fields. Second, from the perspective of security, the security of NFC is much higher than that of the two-dimensional code. †Zeng Gang told Time Zhou Jun that the trend of the two-dimensional code and the NFC model has become a reality. UnionPay abandoned the original development direction is not a contradiction, but a commercial decision on market changes. On May 27th, China UnionPay held a press conference in Beijing, and more than 40 commercial banks officially launched two-dimensional code payment products. Another 60 commercial banks are stepping up testing and will soon be opened. Other major banks will also basically realize this year. All opened. Ge Huayong, chairman of China UnionPay, said that for merchants, UnionPay standard QR code products provide more payment portals to facilitate direct interaction between merchants and cardholders; for cardholders, UnionPay standard QR codes The product offers more payment options to effectively meet the needs of more convenient and safe and secure payment. In addition to access to commercial banks, non-bank institutions can access according to relevant regulations, such as Jingdong Finance and Meituan, which are currently online. At the beginning of this year, Jingdong Finance and China UnionPay signed a comprehensive strategic cooperation agreement. Time Jun learned from Jingdong Finance that in this cooperation, Jingdong Payment realized the interconnection of two-dimensional code business by adopting the UnionPay unified standard. At present, nearly 240 million active users of Jingdong can seamlessly cut into any other online and offline payment scenarios that support the UnionPay system through the Jingdong mobile APP or the Jingdong financial APP. In Chen Shengqiang's view, UnionPay used to establish a ubiquitous online and offline payment acceptance network. Now, through the UnionPay QR code, banks and payment institutions can connect to all consumption scenarios at one time, shortening the distance between banks and payment institutions and consumer scenes. , reducing the cost of the industry to accept the rationale. In addition, UnionPay International is actively promoting the QR code business of Hong Kong, Singapore, Thailand, Indonesia, South Korea, Australia and other domestic cardholders. Overtaking is not easy to rely on these advantages, can China UnionPay shake the status of WeChat payment and Alipay's two giants to achieve overtaking? "Can you bend over and overtake? It is still difficult to make a conclusion. In theory, it can be done well. UnionPay has the advantage of UnionPay and supports many banks. This means that whether it is a carrier, a payment terminal or a cooperative merchant, UnionPay actually There are huge resources." Zeng Gang told the Times Weekly reporter. Xue Hongyan also expressed certain confidence. In his view, there are two main obstacles to the competition of payment instruments, one is the customer base and the other is the access scenario. "From these two aspects, the UnionPay QR code is comparable to the third-party payment giant, and even better." According to Times Jun, in terms of acceptance, nearly 600,000 merchants in the country have already supported cloud flash payment for QR code payment. About 2.66 million merchants have opened the UnionPay cloud flash payment QR code service, and 36 provinces and autonomous regions have also created 40 well-known business districts facilitate cardholders to understand and use the cloud flash payment QR code. "But the current trend has been difficult to reverse." Zeng Gang told the Times Weekly reporter: "Under this market competition, as an important player in the payment industry, UnionPay must catch up and actually adapt to consumption. Adjustments made to pay for changes in habits." "No matter whether it is cloud flash payment or mobile phone Pay, it is not accepted by users. The reason is not difficult to explain. In the case that the third-party payment tool has accessed enough offline scenes, the user's scanning code payment habit has been initially developed. Even if it has technical advantages and strong support groups, UnionPay's cloud flash payment products underestimate the user's enthusiasm for 'accepting new standards'." Xue Hongyan analyzed the time. Ge Huayong also admits: "In the process of product promotion and user habit cultivation, there will be many challenges." In Xue Hongyan's view, since users need to complete payment through the bank APP, they will eventually have to test the bank's ability to conduct customer operations. In addition to the short-term benefits, UnionPay and the bank can fundamentally improve users' contact with silver for two-dimensional. The stickiness of the code can be a challenge. If China UnionPay wants to form a three-pronged market structure, it still needs time to test. Facial Tissue,Facial Tissue Paper,Facial Tissue Bulk,Thick Tissue Paper DONGGUAN YEE HUP TRADING CO,.LTD , https://www.dgyeehupack.com
Xue Hongyan, director of the Internet Finance Center of Suning Financial Research Institute, told the Times Weekly reporter: "Overall, the competitiveness of the UnionPay's two-dimensional code is not to be underestimated. The offline scanning code payment market is indeed likely to usher in a new change."
In fact, for the huge mobile payment market, China UnionPay has been around for a long time.
With the successive appearances of Apple Pay, Samsung Pay, Huawei Pay and Xiaomi Pay, China UnionPay wanted to take advantage of NFC Cloud Flash in terms of security and convenience, and joined forces with the mobile phone brands to enter the mobile payment market. Regrettably, UnionPay's NFC payment did not set off too much water, and it was not a good one.
In the speech of the day, Jingdong Financial CEO Chen Shengqiang believes that UnionPay restructured the payment market. Based on the opening of the UnionPay acceptance side, as a member institution of UnionPay, banks, JD Finance and other third-party payment institutions, etc., can invest more resources such as manpower, capital and flow into product innovation and user experience, and establish core competitiveness.
Changing the user's payment habits is also a huge problem.