After the star effect of Apple Pay, the wave of domestic payment technology innovations has become more turbulent, and commercial banks have begun to join in high-profile; the bar code payment that was stagnant a few months ago due to policy uncertainty has also re-emerged.
On November 6, Agricultural Bank of China released a variety of new payment products such as mobile payment, variable code payment, mobile phone POS, etc. in Shanghai, and QR code barcode payment is also listed. This is the first publicity of WeChat payment and commercial bank promotion.
At the press conference, the staff of the Agricultural Bank of China demonstrated the scene of bar code payment by taking the order payment as an example. Catering merchants use the tablet PC developed by ABC to apply “PAD order food treasureâ€, and place an order directly on the electronic menu, and then generate a QR code. Consumers can use the mobile phone WeChat "sweep" to complete the payment in WeChat wallet.
“We hope to achieve a seamless win-win situation between bank resources, merchant resources and cardholder services through innovative technical means,†said Li Wei, director of the Agricultural Bank’s retail business. “ABC will use Internet thinking and technology. Promote all-round innovation of bank card payment channels, services and functions around the two major markets of cities and counties, merchants and cardholders."
Qi Zhijun, deputy general manager of Tencent's WeChat payment joint product division, believes that the most important change brought by the new generation of payment tools is the experience. The familiar scenes in the past will be affected more and more, and new changes will occur.
He said that through new technology, payment is more than just tools, but also has the characteristics of mobile Internet and social. WeChat is a complete account system. Through cooperation with ABC, each touch is a kind of connection, which can collect users. Users and enterprises have a platform for real connection and communication, and can also share information. Go out, continue to spread, and generate social functions. Payment is a closed-loop tool for digitizing customers. As long as the enterprise keeps the payment data as much as possible and then associates it with the user's WeChat account, it will generate big data.
Among the innovative payment products issued by the Agricultural Bank, there are both bar code payment based on Internet payment technology and products based on hardware technology. For example, “mobile payment†relies on China Mobile's mobile wallet, which can be used on POS machines with UnionPay flash payment function, behind the same NFC (Near Field Wireless Communication) technology as Apple Pay; mobile phone POS uses mobile phone as the receiving terminal. To achieve electronic signature, the cost is about 30% of the average POS machine.
The China Payments Clearing Development Report (2014) issued by the Institute of Finance of the Chinese Academy of Social Sciences pointed out that payment terminals have always been an eternal topic of innovation in the field of payment. Whoever has terminal technology will occupy the initiative of development and will certainly present in the future. The pattern of “no terminal payment, strong terminal paymentâ€. In the long run, the future payment terminal system will be a dual-generation era dominated by mobile phones and computers. Television and telephone will only play a complementary role. Traditional terminals such as ATMs and POS machines may be gradually marginalized in the payment field. Even eliminated.
“Now consumers are used to brushing POD machines. What will be brushed in ten years? Physical cards are no longer necessary in the payment process. With the emergence of new technologies, cardholders’ spending habits are changing. A comment from a payment industry.
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