China's "banking" in the field of offline payment, China UnionPay, is about to launch a storm on online payments.
On the morning of December 18, 2015, China UnionPay announced on the official website that it will cooperate with Apple to launch Apple Pay in China. Apple CEO Tim Cook also uploaded a 6-second video on Sina Weibo that morning, demonstrating that offline mobile payment via Apple's mobile phone is “as simple as that†and confirmed cooperation with China UnionPay. At noon that day, China UnionPay also announced that it will achieve the same cooperation with Samsung Pay.
The "China Business News" reporter was informed that in fact, not only Apple Pay and Samsung Pay, Huawei Pay in the Android camp, etc., will also become a partner of China UnionPay.
A person from China UnionPay Co., Ltd. told reporters that UnionPay is building a closed-loop mobile payment service. At the B end, which is the merchant side, UnionPay and its partners have launched the Internet POS campaign – the traditional POS that will be used by offline merchants. The machine is replaced by a smart POS that supports UnionPay NFC "Cloud Flash Pay"; on the C side, by cooperating with mobile phone giants such as Apple, Samsung, Huawei, etc., mobile phone users only need to use the UnionPay card account with Apple Pay and Samsung Pay built in the mobile phone. The Huawei Pay client is bound to be able to pay close to the smart POS machine in the application scenario and implement a "flash".
People close to China UnionPay said that with the rapid development of O2O, the application of the scan code payment represented by Alipay and WeChat payment is more and more widely used in the online scene. The goal of China UnionPay is based on the "cloud flash payment" of NFC payment. The era of mobile payment and Alipay, WeChat payment "three-point world."
Embracing "thighs"
Why is UnionPay's cooperation with Apple and Samsung in the payment field so attractive?
According to IDC's global smartphone shipments in the third quarter of 2015, Samsung ranked first with 23.8%, and Apple ranked second with 13.5%.
Even in the more competitive Chinese smartphone market, Apple and Samsung will rank second and fourth with 11.0% and 7.7% respectively, according to the latest forecast from Sino.
According to other data, in China, the number of UnionPay cards has exceeded 5 billion. In 2014, the scale of cross-bank transactions of UnionPay cards exceeded 40 trillion yuan. In 2015, it is likely to exceed 50 trillion yuan.
By cooperating with the top three mobile phone manufacturers in the world, UnionPay has laid a solid foundation for online payment. By working with UnionPay, Apple Pay and Samsung Pay will also be able to easily connect hundreds of millions of China UnionPay card users.
However, Apple Pay’s choice to cooperate with UnionPay on its entry into China is a boon.
Apple launched Apple Pay in October 2010 and is built into iPhone 6, iPhone 6s, iPad Air and Apple Watch, and can be used in the United States, the United Kingdom, Canada, Australia and other countries.
After the launch of Apple Pay, Tim Cook had a meeting with Ma Yun, Chairman of the Board of Directors of Alibaba Group. Their photo was also rumored online. It is widely speculated that Apple Pay may take Alipay into China.
Cai Chongxin, executive vice chairman of Alibaba's board of directors, also revealed in an interview with The Wall Street Journal in November 2014 that Ali is indeed negotiating with Apple. The entry point is Apple Pay. The possible cooperation method is Alipay account and background service access. Apple Pay, when users use Apple Pay, they can directly call their Alipay account. But since then, the voice of Apple Pay and Alipay has gradually become quiet.
By April 2015, when the new version of the operating system iOS 8.3 was released, Apple re-issued the information and Apple Pay would support the China UnionPay system. In May, Tim Cook visited China, one of which was to negotiate with China UnionPay. However, according to related reports, the negotiations ended in disappointment because Apple was asking too much for the profit distribution problem. Now that the cooperation is finally reached, the industry expects that Apple has made concessions.
Although it has already reached a cooperation with UnionPay, Apple Pay still needs to be tested and certified by the regulatory authorities, so it will not be commercially available in the Chinese market as early as the beginning of 2016.
In contrast to Apple, Samsung Electronics announced in 2014 that it has cooperated with China UnionPay on NFC payments and has launched a number of NFC-enabled mobile phones. However, Samsung Pay is actually the footsteps of Apple Pay. It was only listed in the US and South Korea in September 2015. In China, through the cooperation with UnionPay, Samsung Pay will be synchronized with Apple Pay.
A person from Samsung Electronics Greater China said that unlike Apple Pay, "Samsung Pay not only supports NFC mobile payment, but also supports magnetic stripe card mobile payment, so almost all POS machines in China can support the use of Samsung Pay."
For the cooperation between Apple, Samsung and UnionPay, Analyst Ma said that “UnionPay has a large number of POS machines with NFC functions, and Apple and Samsung have a large number of mobile phone users. The cooperation between the two parties can quickly improve the industrial ecology of NFC payment. ""
The aforementioned people close to China UnionPay also believe that "Apple and Samsung have an advantage in the C-end. UnionPay has an advantage in the B-end line merchants and offline payment terminals. Each leg and the other leg of the other party can move in China. The payment market runs faster."
According to the reporter, among the local mobile phone manufacturers, the first one to announce support for NFC mobile payment is Lenovo. The first release of compatible NFC mobile payment is Huawei Pay, but Lenovo’s NFC payment mobile phone release has been delayed, and Huawei has not China UnionPay submitted mobile phone evaluation certification. The industry expects that after Samsung, Huawei and UnionPay reach a cooperation, Huawei Pay will also accelerate the commercial process.
The test of "three points in the world"
Working with strong partners will help UnionPay break through the “fortress†that Alipay and Tenpay hold in the field of mobile payments, but it remains to be seen whether UnionPay will finally be able to do so.
According to the latest data from Analysys think tank, on the PC side, Alipay, UnionPay and Tenpay have been in the third-party payment Internet transfer trading market in China “three-point world†– in the third quarter of 2015, respectively, 36.73%, 34.93%, 12.87% of the shares accounted for the top three; but in China's third-party mobile payment market, Alipay and Tenpay are “shuangxiong†– in the third quarter of 2015, they accounted for 71.51% and 15.99% respectively, and the share of UnionPay was very small. , only 0.49%.
In the future, Chinese users' mobile phones will have built-in clients such as Apple Pay, Samsung Pay, and Huawei Pay, but users can still download Alipay and WeChat. Then, can UnionPay successfully challenge the leading position of Alipay and Tenpay? The people in the payment industry surveyed believe that this will depend on the convenience and security of NFC payments, as well as the strength of UnionPay in subsidies and promotion.
In the online payment scenario, Alipay's transaction process is: the user opens the mobile phone, opens the Alipay client, opens the "payment code", and the merchant salesperson scans the scanner to complete the payment. WeChat payment, which is also a “scan code paymentâ€, has to go through a similar process.
From the current public information, Apple Pay implements the offline mobile payment step: the iPhone is close to the POS machine that supports NFC "cloud flash payment", and the finger touches the Touch ID to complete the payment through identity verification. Samsung Pay's steps are: the bottom edge of the phone slides up, the fingerprint is unlocked, and the POS machine supporting NFC "Cloud Flash Pay" completes the transaction.
Both Apple Pay and Samsung Pay can complete the payment without “waking up†the phone and without using the mobile phone. “It’s like the bus card, which is better in convenience.†The aforementioned China UnionPay Co., Ltd. said.
However, whether users can use Apple Pay or Samsung Pay in more offline scenarios depends on the promotion of Internet POS machines with NFC "Cloud Flash Pay".
Weizhi Panorama is the first NFC "Cloud Flash Pay" POS machine manufacturer to receive UnionPay certification. The company's CEO Li Yan told reporters that Internet POS is the revolutionary significance of the iPhone in the field of POS, so this is a In the open field, more manufacturers will enter in the future, and everyone will quickly promote the upgrading of traditional POS machines.
It is understood that the Internet POS machine launched by Weizhi Panorama in 2015 has reached the scale of 50,000 units in 150 days, and has reached 100,000 units. It is expected to reach 600,000 units in 2016. "The next three to five years will be the cycle of traditional POS to Internet POS iteration. At present, the number of POS machines in China is more than 16 million, and the scale may reach 30 million in the future." Li Yan told reporters.
Li Yan also said that although it is a partner of UnionPay, in fact, Internet POS machines can "run" various applications, including Alipay, WeChat, etc., so who will win more users will ultimately be determined by the market; but technically speaking The competition between UnionPay and Alipay and Tenpay is actually a competition between NFC payment and “scan code paymentâ€, and NFC is recognized as a safer payment technology.
However, not advanced technology can eventually become a winner in the market. Based on the subsidy-based “red envelope war†and various O2O promotion activities, Alipay and Tenpay have bundled a large number of bank accounts, and the applications in the online mobile payment scenario are becoming more and more extensive. The plan is to cut into the offline mobile payment field in China. Although UnionPay has launched promotion activities in Chengdu and other places, the strength and effectiveness of its promotion have yet to be tested by the market.
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