Following Apple and Samsung, on March 21, China UnionPay and Huawei jointly announced that they have reached a consensus on continuing the mobile payment business cooperation relationship and jointly promoted the HuaweiPay service based on security chip on Huawei mobile devices.
Since 2016, more and more “Pay†has been vying to set up the mobile payment market.
According to relevant sources, in the future, Huawei mobile phone users can use UnionPay cards to verify and activate “air card issuance†on mobile devices, and they can enjoy the two main non-contact payments and online remote payment of UnionPay “Cloud Flash Paymentâ€. Payment function.
"In cooperation with Huawei, we will promote more domestic mobile phone manufacturers to participate in the development of the mobile payment industry through benchmarking." Cui Hongfeng, executive vice president of UnionPay, said.
Many industry insiders also pointed out to reporters that as a local brand, HuaweiPay has a certain advantage. At the same time, with the addition of various "pay", NFC payment function will become the standard for future mobile phones.
Domestic Pay is late
The entry of ApplePay and SamsungPay has completely ignited the enthusiasm of the major mobile phone manufacturers in China for NFC payment technology.
On March 21, China UnionPay and Huawei Company reached a HuaweiPay cooperation. Specifically, UnionPay cardholders will be able to securely manage and use UnionPay cards on mobile phones with HuaweiPay capabilities. In the future, Huawei mobile phone users can enjoy the two main payment functions of UnionPay “Cloud Flash Payment†offline offline payment and online remote payment on mobile devices.
“With the continuous development of mobile phone functions, mobile payment will become one of the important functions of smart phones. The combination of mobile phones and UnionPay cards will play a very important role in improving the ease of use and security of payment and the diversity of future services. Great role." Yu Chengdong, senior vice president of Huawei.
The reporter learned that HuaweiPay also adopted the international leading payment tokenization (Token) technology.
The so-called Token technology, token technology, converts the bank card number into a virtual account of the electronic token, and does not save the customer's bank card information. No need to connect to the Internet, open any app, save any user information, pay in the lock screen state, and it is safer and more convenient than the QR code scanning technology. Once the phone is lost, the financial institution only needs to reassign the customer an electronic token without having to reissue the card.
In fact, compared to ApplePay, SamsungPay, HuaweiPay seems to be a bit late.
Some insiders admit that even so, HuaweiPay as a local brand still has certain advantages.
Chen Li, an assistant analyst at the China Internet E-commerce Research Center, told reporters that for domestic smartphone manufacturers such as Huawei and Xiaomi, they hope to establish their own mobile payment ecosystem, which can accumulate user payment data and generate other financial innovations. Service, and for Apple, the main reason for the near-field payment is to promote sales, there is no data precipitation.
Mobile payment or open "3.0 era"
In addition to Huawei Pay, domestic mobile phone operator Xiaomi also released a new Xiaomi mobile phone 5 that supports NFC payment (near-field payment) on February 24 this year.
"ApplePay with UnionPay is expected to evoke NFC mobile payment needs that have been sleeping for many years. The NFC payment function will become the standard for future mobile phones. The hardware and software vendors in the overall industry chain will benefit from it." Guojin Securities reported.
Hao Zhuyu, an analyst at the Financial Research Center of Analysys think tank, said earlier: "On the one hand, mobile phone manufacturers have users. On the other hand, banks are also willing to promote this. Through cooperation with mobile phone manufacturers and banks, it can be said that they always think Promote NFC's UnionPay and find a suitable way."
Li Xiaofeng, director of the Central Bank's Financial Information Institute, also pointed out that NFC and mobile payment are a community of the same fate. Foreign Apple, Samsung, domestic Huawei and ZTE have gradually become the new main force in the NFC mobile payment market. Traditional logic believes that operators and banks are the key. In fact, mobile phone manufacturers are more important.
According to the StrategyAnalyTIcs report, more than 100 million people worldwide will use NFC mobile payment to purchase this year, and the amount of transactions through NFC mobile payment will increase from $30 billion in 2016 to $45 billion in 2017 and 700 in 2018. One hundred million U.S. dollars.
Cao Lei, director of the China E-Commerce Research Center, pointed out that in the past few years, the development of mobile payment has experienced the “1.0 era†represented by Alipay. Then, the social payment represented by WeChat payment broke the situation of Alipay, and mobile payment entered the “2.0 eraâ€. Although NFC (Near Field Communication) with intelligent hardware has been developed for 10 years, it has been tepid because of many factors. ApplePay is an opportunity to develop mobile payment, and mobile payment is expected to open the "3.0 era."
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