Mobile payment usher in the era of technological innovation

Mobile Payment Opportunities Unlimited

Mobile payment as a Cross-border business form, its business has been carried out for quite a long time. With the increasing popularity of smartphones and 3G networks and the rich background of mobile Internet application, mobile payment has achieved rapid development, which has achieved substantial breakthroughs in terms of turnover, number of trades, and industry coverage. As a new means of payment, mobile payment improves the user's payment experience, and brings new opportunities for financial institutions, operators, third party payment companies and merchants, and gradually receives worldwide attention. In recent years, the global mobile payment industry has developed rapidly, which has achieved rapid growth in the number of users and the size of transactions. In China, mobile payment has become an industry hotspot, the market contains huge business opportunities and growth space, mobile payment has become the operator and banking industry in the eyes of the sweet cakes, the industry chain parties competing for the mobile payment market situation intensified.

Mobile Payment business model

Mobile Payment Business Application value

Mobile payment is a way for consumers to pay bills for the goods or services they consume through mobile terminals (usually mobile phones), which is generally called mobile phone, so it is also popularly known as mobile payment. Mobile payment includes two ways of close payment and remote payment.

People want to get any retail service they want at any time (anytime), anywhere (anywhere), using any available means (anyway). Download a piece of music anytime, anywhere, send a text message, read an academic paper online, read an electronic magazine, watch a movie online, etc., called "3 A" business philosophy and application. One of the main advantages of mobile commerce is to achieve anytime and anywhere business processing, showing a convenient, fast characteristics, which requires support for mobile commerce to carry out the payment should be able to deal with anytime, but also show the characteristics of convenient and quick.

Mobile Payment business model

There are four kinds of business models of mobile payment, that is, the operation mode based on the carrier of Telecom base, the operation mode taking the bank as the main body, the mode of operation with the third party payment service provider and the operation mode of the bank and the operator. No matter which business model, its main profit model is only three kinds: that is, before the user Service charge, the settlement fee and after the merchant service charge three kinds.

New trends in mobile payment

Mobile payment user turnover is growing fast

2013 will be the year of the massive outbreak of mobile payments. In recent years, due to the growth of consumer demand for mobile payment and the promotion of e-commerce, mobile Internet and rapid development, mobile payment has attracted more and more attention and strong growth trend around the world. According to Gartner's latest data, by the end of 2012, the number of subscribers to global mobile payments will reach 212 million, is 3 times times the 2009 70 million users, the annual composite growth rate of 44.73%, is expected in the next few years, the growth trend will continue, The total number of subscribers to global mobile payments will reach 384 million by 2014. As the number of users grew, the amount of global mobile payments was growing, with global mobile payments trading at $2 billion trillion by the end of 2012, while global mobile payment transactions in 2009 amounted to only $25.559 billion trillion. In 2015, global mobile payment transactions amounted to $500 million trillion, which means that the average mobile payment for 1 years per user will be over $1000 trillion.

In China, mobile payment is also facing unprecedented development opportunities, the mobile payment industry is showing rapid growth momentum. According to the People's Bank of China, as at the end of 2011, China's mobile payment customers reached 145 million households, compared with 2010 90 million households, an increase of 55 million households, the increase reached 61.11%. The rapid growth of mobile payment customers coincided with a rapid increase in the volume of mobile payments, with 247 million operations a year in 2011, up 109% per cent from the previous year. 2013 China Mobile payment customers will reach 308 million, the size of the transaction from 2011 to 74.2 billion yuan to 223 billion yuan in 2013.

Bidding for central bank payment licences

May 26, 2011, the central bank to the domestic 27 Third-party payment Enterprises issued the first batch of payment business license. In the same year August 31, the central bank announced the second batch of companies to obtain third-party payment licences, a total of 13 enterprises to obtain licences. On the last day of 2011, December 31, 61 third party payment enterprises were granted licences. June 28, 2012, including Suning Yi Bao, NetEase Treasure, including 95 received the fourth instalment of payment licences. January 6, 2013, the central Bank issued 26 third party payment licences. At this point, the central bank issued a total of six payment licences a total of 223, involving internet payment, mobile phone payment, prepaid card issuance and acceptance, POS receipts, currency exchange, fixed telephone payments, television payments, such as 7 business types. This means that the State intends to standardize the management of the third party payment industry, on the other hand, it also means that the third party payment industry will enter a more fragmented field of competition.

At the end of 2011, in the third instalment of payment licences issued by the central bank, the payment companies of the three telecommunications operators all realized "certificates of certification", respectively, mobile electronic Commerce Limited, Unicom wo Yi Network Technology Co., Ltd., Telecom Tianyi Electronic Commerce Co., Ltd., paid business scope focused on mobile phone payment, Fixed telephone payment, bank card receipt.

2012 China Third party payment market licence pattern basically determines, after payment license issuance, the third party pays the profession to appear the pluralistic development tendency, each family pays the enterprise to start the multiple service layout, the Internet payment, the mobile payment, the bank card receipts and so on many business have begun to develop, and mutually supplements. At the same time, the emerging niche market continues to expand and deepen, insurance, funds, non-tax, universities, cross-border payments and other emerging markets are constantly open up, as well as the traditional retail and manufacturing demand for the continuous excavation of the third party payment market provides a growth base.

Mobile Payment Application Scenario Segmentation

Mobile payments from both sides of the transaction in terms of space, in different application scenarios subdivided into mobile remote payments, mobile near-field payments and mobile remote and near-field switching three of ways.

Mobile Remote Payment

Mobile remote payment is mainly applied to online E-commerce site shopping and consumption, such as Alipay Mobile client. There are now nearly 4 million downloads of clients. Alipay has close to 200,000 pens for wireless payment days. Mobile phone Alipay currently has 40 million users, and PC computer online payment ratio of 1:9. At the same time, Taobao in 2008 with its products and technology in the congenital advantages and portability, the introduction of mobile phone version of Taobao, officially blown into the Wireless retail area assembly number. December 15, 2009, Taobao launched three custom mobile phones and mobile phone client High-profile launch, but also to fill the domestic mobile e-commerce field of space, so that anytime and anywhere the mobile payment added more application scenarios. The average mobile Taobao completes 83,000 transactions per hour, selling 155,000 items. 2012 "Double 11" mobile phone taobao turnover reached 930 million.

Mobile Near-field payment

Mobile Near-field payment (nfc,near field communication), mainly used for offline real-time transactions. The two parties can transfer the ownership of electronic money by the non-contact point-to-point data transmission between short distance electronic devices. Therefore, the mobile near-field payment needs of the hardware equipment must include the NFC payment function of the mobile phone and has NFC billing function of the POS machine.

Mobile remote and near-field payment switching

Mobile remote and near-field payment switching is mainly applied to online and offline shopping and consumption as well as customers ' free dispatch and management of their financial accounts. Online to Offline, that is, offline business opportunities and the Internet together, the Internet has become an offline trading front of the O2O. New payment solutions aimed at O2O market such as NFC, two-dimensional code payment, bar code payment, voice payment, shake and roll payment and other new technologies, new programs emerge, flourish.

ETC payment

As a special mobile payment service, the traffic and parking service transactions are mainly applied to the payment scenes of vehicles in the course of driving. No Parking fee system (ETC, Electronic toll Collection), through the use of RFID technology to achieve the vehicle through the toll station, the computer can automatically read the car IC card stored in the vehicle inherent information (such as vehicle type, owner, license plate number, etc.), road running information, Levy status information and so on, and in accordance with established fee standards, through the calculation, from the IC card or bank account automatically deducted this road (parking) tolls, this has become a domestic and international efforts to develop and popularize the popularization of a road, bridge, tunnel, parking garage, such as mobile electronic toll system.

Mobile Internet two-dimensional code payment

Two-dimensional code into the line under the key entry

The new opportunity for the birth of mobile Internet is O2O, the two-dimensional code will be the key entrance of line. As a forerunner of the era of Internet of things, two-dimensional code, as a simple tool that carries information for querying or identifying, is a bridge to connect many information in the future, and it also brings many environmental protection and convenient application value. Change from one-dimensional barcode to two-dimensional code, combined Wi-Fi and mobile applications. Two-dimensional code for Mobile E-commerce provides a low-cost, fast entrance, for the offline merchant, advertising marketing industry, the threshold of innovation to reduce, in the long run, in fact, is a business value closely related to the information program; At the same time, two-dimensional code to make mobile E-commerce more simple, just a sweep, you can enter the shopping page. Two-dimensional code to promote the combination of brand advertising and mobile shopping: Enterprises in the brand ads embedded two-dimensional code, consumers see ads can immediately scan two-dimensional code for mobile shopping, anytime, anywhere shopping, to achieve "camp and sales integration", greatly enhance the marketing effect. At the same time, two-dimensional code based on the characteristics of mobile phone camera to solve the mobile shopping three problems, promote the conversion rate: mobile Internet competition focused on the entrance, two-dimensional code is the user quickly access to the mobile Internet portal, solve the problem of mobile phone input and operation problems; Through the two-dimensional code to the line of merchandise information directly connected to the Internet; information recognition, two-dimensional code in the distribution of lottery tickets and discount code is also valuable, but also as a temporary mark of identification. Two-dimensional code is just a door, a broader space in the background, the cloud, and with E-commerce partners in the creative and Lenovo.

Two-dimensional code payment application start expansion

With the application of two-dimensional code in the popularization of life, two-dimensional code more and more by the favor of the electric business. At present, Alipay company announced the introduction of custom two-dimensional code collection business, all Alipay users can be paid by Alipay free "to pay me" two-dimensional code consumers simply open Payment PO Mobile Client Scan code function, and take a two-dimensional code, you can jump to the payment page, after the successful payment, Money will be directly to the two-dimensional code-bound Alipay account, the payee will receive SMS and client notification. Users can also upload their own avatar photos and set up the payee name, so that the two-dimensional code more personalized. This is also an important reason to appeal to young consumers. In the past one months, with Alipay cashier has become a lot of spontaneous choice, the current national 11 cities, "smart Team", Nanning, "the Most Tide Acid shop" and Guangdong's more than 2000 "beautiful good" stores, has begun to support the payment of two-dimensional payment treasure. In addition, Alipay also quietly tested the sound wave payment method used to identify coupons in Hangzhou fruit stall. The use of two-dimensional code, sound waves and other payment methods, no longer need to worry about the needs to prepare zero cash, and do not worry about the receipt of counterfeit money, and real-time control of sales.

Tencent Tenpay is seizing the opportunity to break through 300 million of micro-trust users, to promote wealth and micro-letter cooperation. Micro-letter will be identified by two-dimensional code, based on lbs merchants and users to establish contact, form an "acquaintance" form of SNS, and then guide the O2O business. The future will also be with the micro-letter shake function combination, two-dimensional code scanning and payment combination, can achieve "that is to buy", shooting merchandise two-dimensional code can be purchased and paid. Micro-letter Tenpay will create a micro-life payment concept, a mobile phone around the world will become a reality, Tenpay will rely on micro-letter, targeted to develop a variety of payment methods and scenarios. This payment scenario and pattern will be used for dinner, KTV and other collective activities. You can also transfer money directly to your friends through a micro-letter. Micro-Life Membership card can be business concessions, and timely payment, eliminating the positioning, queuing and other links. At present, micro-life and thousands of brands have established cooperation, including SIP, Starbucks, Shanghai DQ stores. Users use micro-letter scanning merchant two-dimensional code can be opened "micro-life" electronic Membership card, access to business concessions.

In July 2011, shop 1th took the lead in Guangzhou Metro to launch two-dimensional code "virtual supermarket", by using two-dimensional code software to scan two-dimensional code to achieve mobile shopping.

In a few major telecom infrastructure operators are focused on the mobile internet at the moment, the two-dimensional code of the mobile Internet portal has become the focus of seizing business opportunities.

Influence of mobile payment on all sides of industrial chain

Mobile payment as a future development strategy

Mobile payment is not only a revolutionary innovation in the field of Internet, but also a revolutionary innovation in the field of finance, and every innovation is the redistribution of market and the redistribution of benefits, which is directly related to the vital interests of all parties in the industrial chain. The Parties are well aware of the importance of preemption and overall planning in mobile payments. Whether it is involved in E-commerce, or Layout mobile payment, its essence is to stabilize customers, bonding customers, customer service. Therefore, mobile payment has become a strategic component of the overall development of the industrial chain.

2013 is the key year of mobile payment

2013 is the most crucial year for China Mobile to pay development. On the one hand, the State has promulgated relevant policies, set clear mobile standards, promote the formation of a unified service management platform, and actively create a benign competition environment to ensure the healthy development of mobile payment industry; On the other hand, the participation of the Asian gradually increased in technology, capital, personnel and other aspects of investment Strive to occupy the dominant position of the market in the initial stage; mobile payment is widely used in many scenarios, such as remote and near-field, while users ' awareness and penetration of mobile payment are gradually increasing. Under the Joint action of Government, enterprise and user, it is believed that China Mobile payment industry is expected to achieve a breakthrough in the next 3 years, will be in the number of customers, turnover, product categories to be innovative high, to achieve large-scale industrial action.

In the next 3 years, the industry model of mobile payment industry will be clearer. The construction of the mobile payment ecosystem will recall the pace and continue to be perfected, competition and cooperation will become the theme of the industry. Financial institutions, operators, third-party payments and other parties will be more and more industrial integration, play their own advantages, continuous improvement, positive innovation, together to provide users with fast and convenient mobile payment services.

Opportunities and challenges coexist

Mobile payment is a huge industry, the whole mobile payment value chain includes the mobile operators, payment service providers (such as banks, UnionPay, etc.), application providers (public transport, campus, utilities, etc.), equipment providers (terminal manufacturers, card suppliers, chip providers, etc.), system integrators, businesses and end-users and other aspects. The participants will face many decisions and challenges: how to choose Partners, how to avoid risks in future business development, how to take the leading position in competition and cooperation, expand more application scenarios, develop new products, enhance enterprise competitiveness and maintain sustainable development; How to build a mobile payment ecosystem Mutual benefit, positive and steady and orderly advance the industrialization process. These issues are closely related to the mobile payment industry chain, but also related to the development of the whole mobile payment industry.

In the real market, because of the different industrial links to the impact of the industrial chain, so there will be a huge difference in the proportion of interests, with a strong impact on the status of the link will be competing to increase the power of the industrial discourse, in the future market occupies a leading strategic position. The successful operation mode should be to make full use of all the links in the industrial value chain, share the benefits and balance the cooperation, and finally build up a mature business cooperation mechanism.

This is an era in which opportunities and challenges coexist. Believe that in the efforts of all parties, the mobile payment industry will soon usher in a mature period, each party can quickly grow, harvest mobile payment growth of the fruit.