China's economic growth slows down, online payment industry patterns transform dark warfare upgrades

China's economic growth slowed under pressure from weak exports and a housing slump, the country is committed to encouraging consumption, expanding domestic demand and taking e-commerce as a new growth point, while 60% of banking operations have shifted from traditional outlets to electronic banks.

According to Iris Consulting statistics, 2011 China's Internet payment industry overall transaction size reached 2.2038 trillion yuan, an increase of 118.1%. In the market pattern, Alipay, Tenpay, UnionPay online payment are listed in the first three places.

Alipay, Tenpay and UnionPay online payments were introduced in 2011 to "fast pay", improving and improving payment success rates and user experience. Alipay also acquired Bianca payments to enhance its overall service level in the aviation market segment. and "UnionPay online payment" to achieve the railway, highway, aviation three major transport online ticket coverage, expand Cross-border Network Shopping, insurance, communications, FMCG and other fields. Tenpay continued to accelerate cooperation in the areas of traditional group buying, gaming and other financial fields, such as funds and insurance, with notable results.

Some analysts pointed out that, because the gateway fee profit space is small, only through value-added services to increase revenue, so online payment enterprises are speeding up from the gateway to service-oriented enterprises, more and more online payment operators will aim at the market segments, differentiated development has become a trend.

Alipay took six years to occupy today's market share, and although UnionPay is the oldest in the online payment field, it is a belated catch-up. Still, some bankers believe that the advantage of "UnionPay online payments" is that access to the platform is equivalent to the 2.7 billion card holders of the UnionPay card instantly become a customer can reach, which is undoubtedly very attractive to the electric business. This is not only the traditional financial service system to pay treasure as the representative of the new payment model of "self-immunization and repair", but also its construction of a new financial services system inevitable.