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Unionpay Speeds Up Overseas Layout &Nbsp, And Escalates Against VISA.

2011/8/3 9:32:00 61

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The confrontation between China UnionPay and VISA has gone from behind the scenes to the stage.

August 1st, 2, China

UnionPay

The third largest debit card network operators NYCE and the global acquirer Elavon signed an agreement respectively, and gradually opened the latter's regional UnionPay card.

Since the dispute on whether to open up a clearing channel for RMB pactions in China has entered the panel of experts, the China UnionPay has obviously accelerated the expansion of overseas channels for the UnionPay card.

Unlike before, the China UnionPay began to emphasize the demand for "UnionPay single identity card".

Insiders say that once the confrontation between UnionPay and VISA is on the table, it will be hard to say who wins.

Beacon fire

In June 2010, VISA sent a letter to its global member organization, requesting that, from August 1st of that year, when accepting the mainland dual currency credit card with VISA logo outside China, no matter whether it was credit card consumption or ATM withdrawals, it must not take the clearing channel of China UnionPay. Otherwise, VISA will severely punish the acquiring bank.

"All eyes can see that VISA is ready to occupy the market this time," a state-owned business.

Bank

Senior bank card experts say UnionPay has expanded abroad very rapidly these years, and the money earned in the domestic market has been subsidized by overseas channels.

"When VISA first came to the mainland of China, he wanted to make the mainland connection through the UnionPay.

However, the mainland policy does not allow the international card organizations to liberalize RMB pactions, and VISA's huge investment in the mainland of China does not mean that there is no return.

Not only so, the expansion of the UnionPay overseas has threatened the market base of VISA, which can't be seen for the listed companies like VISA. "

A wave is not yet smooth.

In June of this year, the China UnionPay announced that it had agreed to cooperate with MasterCard to carry out offshore Internet payment business so as to enable the UnionPay card to be accepted by overseas MasterCard payment gateway on overseas online merchants.

In addition, the two sides continue to expand the scope of cooperation and explore new cooperative projects in the field of innovation payment.

In July 22nd, VISA also held a press conference in Shanghai to highlight the launch of a cross channel digital wallet, which will be released in North America this autumn.

On this platform, users can store VISA and non VISA.

account

Payment information, using a login account to enter all payment channels.

This is obviously very attractive to high-end customers who are relatively frequent both at home and abroad.

The appeal of "62"

In the eyes of the industry, VISA has launched a cross channel digital wallet following the high profile of the UnionPay. Obviously, it is necessary to deploy the UnionPay in advance in the field of no card payment.

Compared with VISA's experience in the field of no card payment, the way of UnionPay has just begun.

Li Juan, director of innovation business in VISA, China, said in an interview with the media that China has begun to explore the business of mobile payment and so on. VISA started 4-5 years ago. "Now we have just solved the" communication command dispute ". After that, there are a series of problems, such as the security system, the structure of near-field payment, standardization and so on.

At present, VISA and some domestic operators and mobile device manufacturers are also exploring opportunities for cooperation.

"It should be said that the thought of the UnionPay is right.

No card payment, whether online payment or mobile payment, is the inevitable trend of the future development of the payment industry.

When communication technology and network technology are relatively mature, the opportunity to open up the market is very important, "the senior bank card holder said.

Compared with online channels based on "BIN (issuing card identification code"), there is obviously room for offline channels.

In September 16, 2010, the US Congress put forward to the WTO that China violated its commitments to its trading partners and did not open up RMB clearing and clearing channels in China.

In February this year, the dispute was unsuccessfully negotiated and formally entered the expert group's ruling stage. According to the WTO dispute settlement mechanism (DSM), the dispute will be resolved in 18 months.

Just after February of this year, China UnionPay accelerated the development of overseas POS and ATM machines.

Moreover, the above acceptance has highlighted the demand for "card only" bank card with "silver link" logo and card number at the beginning of 62.

In this regard, people close to China UnionPay said that the practice of the UnionPay was based on the cardholder's point of view. "After all, Chinese tourists can save about 1% to 2% of the total paction cost of currency conversion with overseas UnionPay cards, which is a real benefit."