Apple Pay'S Entry Into China Is The Rhythm Of The Mess With The Unionpay.

In the fierce competition of mobile payment, the presence of China UnionPay has always been very low.

Analysts believe that for Chinese users, subsidies and preferences are still highly valued. If Apple and UnionPay fail to prepare for hundreds of millions of subsidies, even if they are in hand, it is hard to shake the existing market structure.

The combination of apple and UnionPay with Alipay and WeChat is essentially the competition between the hardware ecological chain and the mobile Internet.

This not only tests hardware products, but also tests the ability of system development and operation.

No hardware vendor can do that except apple.

This year is bound to be a year of mobile payment industry entering the outbreak period.

The vigorous red packets war has just ended, and WeChat announces cash withdrawals.

At the same time, Apple Pay also announced its entry into China in a high-profile manner.

In February 15th, WeChat of GF and Construction Bank also announced that Apple Pay will be launched at 5 a.m. on February 18th.

Reporters found in Apple's official website that the first 19 bank partners to support Apple's Apple Pay include bank of China, Agricultural Bank of China, ICBC, China Merchants Bank, Bank of communications and other mainstream banks.

Unlike WeChat and Alipay, Apple's mobile payment does not need to open any APP, but is designed by NFC antenna. As long as the terminal product is near the POS terminal of the UnionPay cloud flash, the fingerprint can be completed at the same time.

Apple Corp expects to launch Apple Pay in the second half of this year or in Hongkong, Singapore and Spain.

Analysts believe that the simplification of the Apple Pay process is conducive to improving the frequency of usage. However, because of its relatively high demand for terminal devices, the user base that can be covered will not be too large in the short term.

It will attract some users online, but in the field of online payment, Apple Pay will not challenge Alipay and WeChat.

However, Apple Pay's entry into China has undoubtedly played an exemplary role in other hardware manufacturers.

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Against the background of the ceiling, mobile terminal manufacturers may compete to develop mobile payment business, and the industry is expected to enter the outbreak period.

Insiders pointed out that the combination of apple and UnionPay and Alipay, WeChat, in essence, is the competition between the hardware ecological chain and the mobile Internet.

This not only tests hardware products, but also tests the ability of system development and operation.

No hardware vendor can do that except apple.

As Apple's mobile payment service, Apple Pay first launched in the US in October 2014, landed in the UK in July 2015, and launched in Australia and Canada in November.

China is the fifth country to support Apple Pay online.

Last December, apple official said it would cooperate with China UnionPay to land in the Chinese market, but has not disclosed any specific information.

Until February 18th, the service will be officially launched. Compared with the official high profile of the UnionPay, apple official remained silent and did not accept the twenty-first Century economic report reporter's interview.

It is understood that users can load debit cards or credit cards to Apple terminals such as iPhone, Apple Watch and iPad.

Not only can it be consumed online on POS, but also can be paid online in APP mall.

Carrefour China chief marketing officer Yu Ying, in an interview with the twenty-first Century economic news reporter, revealed that Carrefour stores will be connected to Apple Pay for the first time on the 19 day.

"Apple Pay will also take part in a series of preferential activities of the UnionPay, because it mainly relies on the channels of UnionPay."

However, the three parties of China UnionPay, apple and merchants did not disclose more details about the specific fees.

According to the notice issued by the national development and Reform Commission on the optimization and adjustment of bank card handling fees, there are four kinds of bank card fee handling standards, including "meals and entertainment" fees, 1.25%; general merchandise, wholesale and other "general" fees; 0.78%; supermarkets, hydropower, gas and other "people's livelihood" fees 0.38%; public hospitals and public schools and other public service fees are collected according to the cost of service, issuing card service fees, and bank card clearing organizations.

Both were 0.

The issuing banks, receiving institutions and pfer agencies are generally allocated according to the ratio of 7:2:1, that is, the card issuing bank obtains 70% of the settlement fees of commercial bank cards, 20% of the receiving institutions, and 10% of the Union's pfer agencies.

Although the proceeds of UnionPay will be eaten up by Apple's participation, cooperation with apple is still the best choice for mobile payment.

Wang Yunhui, a senior TMT observer, told reporters that in this cooperation, China UnionPay, the biggest beneficiary of the cooperation, is to promote cloud flashover business with the help of Apple users and strong influence.

The subsequent contention for offline businesses is not so much about Apple and BAT in the mobile payment market. It's better than the UnionPay and the third party payment platform.

The high attention of the market and users has laid a good mass foundation for Apple Pay's entry into China.

From the point of view of past technology, the payment mode of WeChat and Alipay has been separated from the receiving party, pfer agency and issuing bank.

This made them face the competitive pressure from China UnionPay and other banking institutions from the beginning of their birth.

Apple Corp has achieved win-win results through unique technology.

Public reports show that

The use of "Tokenization" technology, the bank card information into a string (Token) exists in the phone.

Whenever the user pays, the mobile phone is regenerated into a random Token and a set of dynamic security codes through the Token, and the bank is then restored to the bank card through the Token service, so as to return the authorization to complete the payment.

This process does not touch the interests of any party in the traditional payment system.

This is also an important reason why the GFA and the Construction Bank and the China UnionPay are highly informed to users.

"In addition, Apple has also solved the problem of expanding its local offline scene through the UnionPay, which is also a very valuable breakthrough.

Wang Yunhui added.

However, the newly arrived Apple wants to pay for it from Alipay and WeChat, which is not easy.

At present, online payment is almost monopolized by Alipay. Alipay and WeChat have basically partitioned the whole market in the field of mobile payment.

Public data show that in the two quarter of 2015, the third party mobile payment market in China reached 3 trillion and 500 billion yuan, with a growth rate of 22.81%.

Behind the huge market increment, in fact, BAT and other giants are driven by a large number of subsidies, festivals, red envelopes and other activities. These marketing initiatives have gradually cultivated consumers' mobile payment habits.

Taking the red envelopes war on New Year's Eve as an example, the amount of red envelopes issued by Alipay that night was nearly 800 million yuan, while the QQ released data showed that 308 million users participated in the robbing and robbing of red envelopes and 2 billion 234 million red envelopes.