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UnionPay research on new mobile POS standard

payment schemes emerge in endlessly

zhuyedong, CEO of IT service provider Zhongke Jincai, told that recently, the company will launch a card reader payment scheme based on audio socket with China UnionPay, that is, mobile POS, which will install the POS device laid by UnionPay or bank offline on the, forming a new payment scheme

on August 7, we asked relevant people from commercial banks and China UnionPay about this. UnionPay is indeed studying this latest payment scheme, but at present, in terms of security and convenience, this scheme is mainly applicable to the cleaning of the installation surface without foreign matters for individual users. Once large-scale merchant applications are involved, how to solve the relevant security and standard problems is still under study

doubts about the business model

before the introduction of the mobile POS scheme, there were four main application modes in the payment field, namely SIM card, SD card, film, NFC, etc. different modes depended on different specific media

especially in June this year, China Mobile (Weibo) and UnionPay ended the long-lasting dispute over technical standards (13.56MHz and 2.4G). After signing the cooperation framework agreement, the market is more looking forward to the full launch of UnionPay standard commercial

however, the new mobile POS scheme temporarily stabilized the spot of imported ore ports on the 2nd, which was first launched by UnionPay rather than operators. If you don't emphasize, it is generally for 14 μ The market is quite unexpected

according to the advantages and disadvantages of the above schemes, the cost of replacing SIM cards and SD cards that support payment is low, but it requires the cooperation of banks, operators, UnionPay and other parties to replace NFC, and the cost is high

since UnionPay already has SD cards and other cost-effective payment schemes, it should be reasonable for operators to follow up and launch a low-cost scheme to cope with the competition. However, unlike the outside world, this mobile POS scheme is still launched by UnionPay and relevant third parties, and operators cannot share it

in the mobile POS scheme, operators are only a channel, charging traffic fees, and there is no commission on transaction revenue. Relevant people told

the person in charge of a bank's payment project also believes that the business model may not be clear, and the operators are not doing much in the payment field at present

Mobile POS seems to solve the problem of convenience and cost of payment. The cost of mobile card reader is significantly lower than that of pos. in the future, users can complete payment as long as they install a card reader in their own audio socket and swipe their UnionPay card

but the biggest doubts come from security and application space. The above-mentioned bankers believe that if you swipe your card on your own, ordinary users will rest assured, but if you swipe your card on a merchant, whether the security can pass is a major obstacle. In addition, whether the cost of this card reader is paid by the user, the acquiring bank, UnionPay, or a third party has not been determined

banks have many concerns

in the view of the above-mentioned bank principals, the mechanism of issuing, transferring and acquiring shares between banks and UnionPay in the traditional payment field is not necessarily applicable in the field of mobile POS. Even if it is applicable, it may not be successful in application until the security and other problems are solved, so they choose to wait and see

in fact, the pace of banks has been slow in the payment field where thunder and rain are small. Most banks are still willing to focus on the banking stage rather than enter the payment stage

Bank of Ningbo recently launched its iPhone based bank and set up a new technology department to support its business. Wang Yongjie, assistant to the president of the bank, said that if a customer is asked to make a simple transaction, the average cost that the bank needs to bear will be about 4 yuan. If customers use the bank more to complete basic businesses such as transfer, inquiry and remittance, it will reduce the pressure on the bank

as for whether payment products will be launched in the future, Wang Yongjie said that this is a long-term arrangement, and banking services should be provided first in the short term

Bank of Ningbo has revealed the true ideas of most banks at present. Compared with the continuous innovation of UnionPay and other institutions in the payment field, banks are still worried about whether to enter the field of large-scale payment

in that sentence, the business model in this field is not completely clear. It is hard to say whether mobile POS will eventually be an innovative product or just a flash in the pan. The above-mentioned person in charge of the bank believes that

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