The UnionPay launched the cloud flash payment red packet activity shows that this year-end activity cloud flash payment APP prepared to open the door red packet, daily sign-in red packet, inviting friends and relatives red packet, initiating transfer red packet four major Chinese New Year red packet, the user can get up to 2018 yuan per day.

Previously, Alipay and WeChat both rolled up their sleeves to prepare for a big battle in the red packets during the Spring Festival, and now UnionPay, which has the background of the national team, has joined the party, which has also given many people more expectations.

Cloud flash payment is a unified brand created by UnionPay specifically for the mobile Internet. China UnionPay is a joint Chinese bank card organization approved by the People's Bank of China.

In fact, UnionPay has been in the mobile payment space for a long time. As the? national team? player, China UnionPay had launched a set of mobile payment programs based on financial IC card chips as early as 2006. However, telecom operators and the financial industry each proposed a set of NFC standards, and the two sides were at loggerheads until 2012, when the financial industry system was established as the national standard. Since then, China UnionPay has gradually become the main promoter of NFC.

Good things come in threes.In 2017, UnionPay officially launched UnionPay QR code payment in conjunction with commercial banks, and hand in hand with industry parties*** with the release of a unified App?cloud flash payment? According to the latest data released by UnionPay, throughout 2017, the number of UnionPay mobile flash payment transactions increased continuously at a faster rate month-on-month, and with the ? The launch of the cloud flash payment?APP, the number of UnionPay QR code transactions in December 2017 increased dramatically by more than four times compared to June.

The report card is also really eye-opening. UnionPay transaction data show that the UnionPay network transfer transaction amounted to 93.9 trillion yuan in 2017, up 28.8% year-on-year.

Industry insiders said that such a rapid development of the results also seems to be declaring that the mobile payment on Alipay, WeChat hold each other's situation is about to break, mobile payment will later show a three-legged situation.

Imaginative potential

It is fair to say that in recent years in the field of mobile payment, Alipay, WeChat momentum, both sides spared no effort to run. But one of the general rules of the Internet industry is that wild growth is only suitable for the primary stage, and a little inattention to the company's position in the industry will change.

It is obvious that with the development of UnionPay in mobile payments, the previous model of wild expansion of mobile payments will no longer be applicable, and even the UnionPay's continuous force is an important force to change the current pattern of mobile payments.

Of course, these three offer similar mobile payment services, but there are still relatively significant differences between the three. And those differences are basically reflected in the features of their respective products.

WeChat Pay's signature service is? Hongbao? , which allows users to hand out red envelopes to friends in social WeChat groups, is a product of WeChat's social communication mobile app. Users who have registered their bank account information are able to enjoy lifestyle services such as paying bills and making payments to stores through the continued use of their phones.

Alipay, by contrast, grew out of an expansion of services designed to facilitate payments from online shopping site Alibaba. Alipay has become more than just an escrow payment service that allows consumers to pay sellers after confirming they have received goods or services. Similarly, Alipay is expanding its service to other transactions outside Alibaba's site, including offline payments like utility bills.

UnionPay launched its QR code payment standard in May 2017 as China's officially recognized credit and debit card network company. Alipay and WeChat Pay currently dominate the field, but UnionPay's entry is bound to drive up the entire QR code payment landscape, with UnionPay's own technological breakthroughs and cooperation at the regulatory level. This potential should give a major boost to UnionPay's future valuation.

The huge advantage of the national team background

WeChat, Alipay, as a third-party payment, in the use of bank cards and regulation is destined to limit the limitations of the two.

As a non-banking financial service provider, Alipay had avoided regulatory restrictions for a long time and was able to extend its services beyond its borders. However, in late 2016, Alipay was required to close all of its offshore financial accounts, which had a considerable impact on its Southeast Asian operations.

And it is WeChat's own social attributes that are most used overseas. In terms of mobile payments, WeChat Pay has established external partners to ****together develop overseas markets. In South Africa, WeChat Pay has launched an international payment solution, and users can now use WeChat Wallet to send and receive money, as well as withdraw cash from ATMs. But it is also far behind UnionPay's partners in terms of the number of countries it works with.

As of June 2017, UnionPay's network spreads across China's cities and towns and has been extended to 160 countries and regions outside Asia, Europe, the Americas, Oceania and Africa.

UnionPay compared to the other two to see, UnionPay's huge number of users also laid its future ? A brother? position. So far, China's UnionPay card issuance has totaled more than 5.4 billion cards, with more than 38 billion transactions on UnionPay cards in 2016 alone, according to the data.

UnionPay's focus has also become more focused on cardholders traveling abroad.In 2015, the U.S. attracted more than 2.5 million Chinese tourists, who spent more than $40 billion there***. By developing partnerships in the U.S., UnionPay has been able to successfully penetrate the U.S. market and, in turn, increase its overseas market share.

UnionPay has said that the acceptance network of UnionPay cards in the United States is becoming more complete. At present, almost all ATMs in the U.S. can use UnionPay cards to withdraw cash, and more than 80% of merchants can brush the UnionPay credit card payment. The acceptance rate of UnionPay cards in well-known shopping centers and outlet districts in New York, Hawaii, San Francisco, Los Angeles, Orlando and Chicago generally exceeds 90%

UnionPay's international layout

UnionPay began to take steps toward internationalization in 2004, and at the end of 2012, UnionPay International Limited (Liability), a company that had been brewing for a long time, officially opened its doors in Shanghai, as part of China's UnionPay. (CUP International) was officially opened in Shanghai at the end of 2012, as a subsidiary of China UnionPay, which will be responsible for specializing in China UnionPay's international business.

UnionPay's layout on internationalization is not comparable to any other product from the current point of view. UnionPay has essentially achieved global coverage today.

Data shows that the overseas acceptance network of UnionPay cards has covered more than 160 countries and regions. Hong Kong and Macao, Mongolia, Cuba and the United Arab Emirates have basically realized full acceptance, 80% of merchants in Northeast Asia can use UnionPay cards, the acceptance coverage rate of merchants in Southeast Asia exceeds 70%, more than 80% of merchants in the United States are able to brush UnionPay credit cards, half of the merchants in Europe that can use bankcards can support the consumption of UnionPay cards, and 90% of the ATMs in Australia and 75% of the merchants can also use UnionPay cards.

Additional information shows that there are more than 10 million online merchants outside China that accept UnionPay cards, and the card has gradually taken advantage of them in areas such as education payment and airline booking. More than 2,000 schools outside China support online payment of tuition fees with UnionPay cards, and the official websites of nearly 40 international airlines support online ticketing with UnionPay cards.

The relevant person in charge of UnionPay International said that a series of innovative products such as UnionPay online payment, UnionPay cell phone flash payment, UnionPay QR code, and UnionPay wallet products are ushering in richer cross-border application scenarios.

It is also true that since the beginning of 2018, UnionPay International and Huawei signed a cooperation agreement, the two sides on *** together to promote the globalization of Huawei Pay, speed up the landing outside the country to reach cooperation, is also seen as the outside world as an important step in the layout of the internationalization of UnionPay.

Standard Bank of South Africa and UnionPay International reached a cooperation agreement in Johannesburg, South Africa, the latter will use the resources of Standard Bank to promote the UnionPay card payment services in the African market, Standard Bank has become the first financial institution in South Africa to issue the qualification of the UnionPay card.

From the point of view of UnionPay's action, UnionPay's strategic advantage is its huge outbound Chinese cardholder accounts, coupled with its innate? national team? advantage, as well as UnionPay's layout in mobile payments, whoever ignores UnionPay in the future will only have to suffer the consequences