Mobile payment industry will grow fast

Mobile payment is at the initial stage in China. China's mobile phone users have exceeded 800 million, is the world's largest mobile market. After several years of development, in terms of user size and application areas, China's mobile payment industry is still in its infancy, the development potential is enormous. Mobile phone remote payment from the previous SMS upgrade to the current WAP and application, the current growth is rapid, in this piece of business is also the most intense competition; while the mobile phone on site payment due to the lack of harmonization of technical standards and norms, it is not in the domestic large-scale popularization, just in the pilot phase. At present, China's mobile phone payment of about 20 million users, of which the use of on-site payment of less than 500,000 users, low permeability.　　We believe that with the improvement of the overall financial payment environment, mobile phone payment in the next two years will usher in rapid growth. Mobile phone on-site payment technology has two major camps. China Mobile and the Chinese UnionPay two camp standards are not unified, both want to dominate the entire industrial chain. China Mobile main push is the standard of 2.4G, while the Chinese UnionPay main push standard frequency in 13.56MHz. The unification of the technical standards makes the whole industry unable to pay for the large-scale promotion of the field payment.　　At present, the Government has been coordinating two camps, on-site payment standards are being developed. We believe that the government's co-ordination will make the mobile phone on-site payment standards soon. China UnionPay has launched a "mobile payment industry Alliance" with 18 national and regional commercial banks, such as ICBC, ABC, CCB, Bank of Communications, China Unicom, two telecom operators, as well as a number of mobile phone manufacturers and other related enterprises and institutions. China Mobile also joined the alliance.　　We believe that under the government's coordination, two standards may become national standards. The promotion of mobile phone on-site payment needs to solve several aspects such as terminal transformation and user habits.　　Now the standard hasn't been decided yet, mobile phone terminal renovation and on-site payment acceptance of environmental reform has not been carried out on a large scale, the domestic industry card many, the standard is not uniform, the need for operators to integrate; There is the user's habit must be cultivated, the current use of mobile phone to pay the number of users have a lot of room for improvement Combined with the position of the listed companies in the mobile payment industry chain and the company's competitiveness, we give national technology, the South-day information, the extension of the information "buy" rating, to give ZTE, the East letter peace, Heng Bao shares, long Electric technology, Newland, the certificate of electricity, the guardian of "overweight" rating. Jin Yuan Securities