State-size payment platform successive moves the third party to pay the melee

At a time when visa and China UnionPay are blocking and fighting back, a domestic-foreign tussle over third-party payments is being stretched at all levels. At a time when private third party payment companies were Shinma for financial licences, China UnionPay announced that it would co-operate with PayPal so that users of China UnionPay would be paid to buy and settle overseas websites. More sources said that the central bank's second generation of payment system Super NET Silver or will be launched this August.

Thus, China UnionPay and Super Net silver as the representative of the "national team" and Alipay, Tenpay and other private Third-party payment platform for competition between the war from the domestic burning all the way abroad. At the same time, the domestic corps in the internal fighting, but also against foreign troops.

State-size payment platform successive moves

This huge market cake, not only be coveted by international payment organizations, UnionPay, China Mobile and other countries, such as Alipay, Tenpay and other private payment enterprises in the fierce competition for the war also from the domestic fuel to foreign countries.

At present, the domestic electronic payment market is divided into three major camps. One is the different mode of Third-party payment platform, such as Alipay, Tenpay, hundred pay, fast money, Yeepay payment, the second is the bank as the representative of the net silver and China UnionPay Chinapay, the third is the mobile payment business, such as China Mobile telecom operators. Recently, it has been reported that ebay's payment platform PayPal will work with China UnionPay, the Chinese electronic payment service provider, so that Chinese UnionPay users can buy and settle overseas websites so that Chinese consumers will be able to shop and pay their money from overseas merchants.

At the same time, people close to the situation said the central bank plans to formally launch the second generation of payment system in August Network banking interconnection application system. Users log in to any bank of the net silver, can 24 hours real-time operation, including other banking network bank business, most of the business, no longer because of the different card issuing banks to make the scope of business Limited. "The second generation payment system saves the complex path process of trans-bank transfer and improves the efficiency of net-bank use," the industry agrees.

Recently, Visa tried to block the double identification card in the overseas to take UnionPay Channel News uproar, UnionPay also through commercial banks to appeal to the cardholder to use a single logo UnionPay card. As a result of the handling fee concessions, UnionPay card in overseas consumption advantages to pay UnionPay enough confidence. People said that the use of a single logo UnionPay card outside the country, you can directly achieve local currency consumption or withdrawal, renminbi account deduction, free of the transaction amount of 1%-2% currency conversion fee.

Cake Big competition Crowd

According to public data, the 2009 China Third party payment market annual transaction size has reached 600 billion yuan. According to the consultation data, 2009, Alipay's market accounted for 49.8%, Tenpay 20.6%, UnionPay 14.2%, Fast money 4.1%. Plans to enter the payment market and China Mobile, this March, China Mobile announced a huge 39.8 billion yuan subscription to the Pudong Development Bank 20% stake, the sword refers to mobile payment. By 2012, China's electronic payment industry will be trading at an extra 2 trillion yuan, he predicts. The huge cake also will attract more and more entrants, the market smoke.

Mr, director of China Pay System Research Center, Southwest University of Finance and economics the current competition situation of domestic payment industry points out that the super net silver has certain influence on the Third-party payment enterprises, and the bank will speed up the competition of customers. But that does not mean that the prospects for third-party payments are bleak, and that small and medium-sized businesses that lack credibility will cling to the platform. Banks and third party payments are still a competing relationship, with their respective markets. (Wang)