Two-dimensional code to suspend the Hundred Days regeneration game

Reporter Zhong Hui Shenzhen reported

After the central bank suspended the payment of QR codes for more than three months, the CUP side, along with the third-party payment such as Alipay and TenPay, cooperated with the regulatory authorities such as the Central Bank and Payment Clearing House to discuss or formulate the two-dimensional code payment standard, and on the other hand also started its own layout Two-dimensional code payment.

The 21st Century Business Herald reported exclusively that UnionPay's two-dimensional code payment system solution consists of two parts, one is online payment and the second is offline payment; the latter is attached to UnionPay's original offline receipt Layout system, instead of credit card swipe code. In the application scenario, UnionPay's offline two-dimensional code payment and Alipay, TenPay's scanning process exactly the opposite, that is, consumer mobile terminals generate bank card information, two-dimensional code, the merchant to scan code to complete the transfer of financial information and Pay.

Because of this, some people in the industry believe that the major difference between the two-dimensional code payment of Unionpay model and Alipay and Tenpay mode lies in that the nature of the payment is offline payment. Instead, the "swipe code" is used instead of the "swipe card" A natural technological upgrade.

To put it simply, the CUP move to change the space in time, just to adapt to the fashionable "two-dimensional" view, nor the central bank's real bottom line.

According to the reporter's investigation, after the pre-technology research and development, the UnionPay two-dimensional code payment system has been completed and is currently being discussed with the bank to promote cooperation.

"Several areas have been reported to the local People's Bank, but now the central bank is not yet clear on the two-dimensional code payment, the current mainland can not be formally promoted, can only be done outside." An authoritative source approaching UnionPay 21 Century Economic Reporter said.

A BOC Hong Kong head confirmed this to reporters: "We have promoted in Hong Kong and are now upgrading the offline POSS system, which has not been formally applied. Where we have the qualifications of acquiring business overseas, we will update next Promote. "

Two-dimensional code to pay UnionPay mode

Online and window scan code payment, the UnionPay model is mainly for online or window publicity platform to provide customers with payment solutions in the form of solutions.

"Internet online payment itself has a jump function, but in addition there is also need to have a different way of verification, the original is verified by SMS, we can now verify by scanning code. The two-dimensional code only transmits funds payment information, Platform will not grasp the consumer's full identity information. "The above authoritative sources close to UnionPay said.

UnionPay's two-dimensional code payment model is the most significant breakthrough in offline scanning code payment. This model is based on the pay-as-you-go payment system under the Bank of China UnionPay (CUP), and the merchant terminal is offline to upgrade its original POSS machine receipt system and implanted the function of scanning two-dimensional code. On the consumer side, In the form of a plug-in, a two-dimensional code generation system is developed. The plug-in is embedded in the mobile Internet terminals of banks and finally generates a two-dimension code reflecting bank card information in a bank terminal.

"The two-dimensional code reflects the bank card information with the IC card technology is similar to the principle of talkingData digital technology to achieve a virtual encryption information, rather than all the information on the bank card; after scanning the system can only read the payment required Of the encrypted funds information, all other information only the issuing bank can grasp. "Authorities close to the UnionPay to 21st Century Business Herald said," UnionPay is currently doing is a kind of ability to service, not mobile client terminal, you must cooperate with the bank, Implanted in the form of plug-in banks of mobile banking. "

In fact, commercial banks are also considering their own independent two-dimensional code payment system, such as CITIC Bank's disparate payment. "The bank's own code can only identify itself. Different banks have different standards and do not know each other's codes. Anyone involved in the QR code exchange scenario (that is, the issuing bank and acquirer are not the same bank) must have their own system To unify, this system is compatible with the bank's code. "The above said.

He also said that with the promotion of two-dimensional code payment, in the future, UnionPay will also unify the development of APP for mobile terminals, and may bind multiple bank cards, "equivalent to a mobile electronic wallet filled with many bank cards. The payment scenario no longer exists With credit card, but choose any one bank card to generate two-dimensional code and through the merchant's terminal code scanning can complete the payment of funds information transfer, enter the password and then confirm you can complete the payment. "

According to the reporter, the two-dimensional code payment system under the Bank of China UnionPay has been developed. Some regions have filed reports with the People's Bank of China. Since the central bank has yet to make a clear attitude toward the payment of two-dimensional code, it has not yet been promoted in the Mainland. However, Receiving organizations to discuss future cooperation and promotion matters; outside China UnionPay has started through the local cooperation receipt agencies to promote.

"Domestic promotion also has to see the attitude of the central bank, CUP short-term promotion is not anxious, or else give people an excuse, but plunged into another dilemma." The above authoritarian approaching UnionPay said.

Game between parties

Although two-dimensional code payment has been suspended by the Central Bank, given the convenience brought by its technology for the payment scenario, there will be huge market potential in the future and the issue of regulatory liberalization will not be long-term in the long run. The game between the parties is fierce.

A third-party acquirer believes that the two-dimensional code payment model of UnionPay has not opened up a new mode of payment. The essence of the payment is offline payment. Instead of using the "swipe code" instead of the "swipe card" process, from the perspective of the UnionPay From the point of view, it is a natural technology upgrade, "just like swiping a magnetic stripe card to a brush IC card, and then to the NFC near field contact"; and TenPay and Alipay two-dimensional code payment mode, The method of dimension code converts the original offline payment into online payment, realizes O2O closed loop, and takes the channel of third-party internet payment.

The game behind the parties is driven by interests. In fact, the UnionPay QR code payment mode did not break the original offline credit card payment "Issuing Bank: Receiving Institution: UnionPay = 7: 2: 1" rate sharing mechanism, and TenPay, Alipay QR code The payment mode is based on online payment, the issuing bank interface costs low or even free, online payment is set aside the role of offline acquirers.

On April 22, at the 6th China Mobile Payment Industry Forum, Li Xiaofeng, director of the Leading Group Office of the Central Bank's Financial IC Card Advancing Work, said: "The two-dimensional code is inexpensive but not secure to use. On the acquisition, is extended gray area regulatory arbitrage, so no password authentication QR code technology can not be trusted as a large-scale online payment technology to promote.

"I think the reason why the central bank suspended the surface payment of two-dimensional code is to pay for the security problem. The deeper reason is that the mode of TenPay and Alipay breaks the ecological environment of the original offline credit card payment and they have replaced the role of UnionPay and acquiring agency. Divided into a greatly compressed card issuing bank. "The above third-party acquirers to 21st Century Business Herald reporter said.

The authoritative sources approaching UnionPay believe that the offline payment system of UnionPay has been tested in practice. The two-dimensional code payment belongs to the payment method with password verification and there is no regulatory arbitrage issue and should be widely promoted.

Although UnionPay's two-dimensional code payment has not opened up another payment scenario, the security issues caused by the two-dimensional code technology still remain unsolved.

"Compared with the payment system, two-dimensional code technology security is a minor problem. Two-dimensional code is only a medium, magnetic stripe cards also have security issues, the standard is fixed. Now the Internet payment has not been a unified standard to establish standards Previously, it was pointless to talk about the technical standard of two-dimensional code. "The above-mentioned personages told the 21st Century Economic Reporter.

"I think there is no difference between the two technologies in terms of the security of the QR code technology." A head of the retail unit of a stock-market bank commented on the two models of UnionPay and Alipay and TenPay, and said: "In payment mode and application scenario On each have their own advantages, not to mention who subvert the final trend is that we live together, complement each other, our banks do not care about this. As for the sharing of interests is the issue of negotiation, Alipay and TenPay interface, we are not Free, divided into high and low have to bank strength to theory. Specific business, we have talks, and ultimately to wait until the central bank set a standard to say what to do.

In response to the suspension of the two-dimensional code payment in late March, the central bank expressed the hope that all relevant parties will actively cooperate with each other and form a unified standard as soon as possible in respect of technical rules, technical standards and especially safety control standards. Under this standard, Gradually and steadily to promote.

According to the reporter, since April, the central bank has discussed with the payment and settlement association, the Ministry of Industry and Information Technology, the bank card testing center and the third-party payment institutions such as UnionPay, Alipay and TenPay to discuss the two-dimensional code payment standards. However, for the final formulation of the standard, Perfection and launch still no timetable. (Editor Han Ruiyun)