In the two-dimensional code market, the first to start is Alipay and Tenpay, which account for the largest share of the third-party payment market in China. Since the payment of the QR code, there have been reports of the Trojan virus in the QR code scanning and the consumer’s scanning of the QR code. There is a big security risk in the mobile phone scanning code. The criminals implanted the Trojan virus in the QR code, which is difficult for consumers to identify. In the case of such unsafe payment, in mid-March this year, the central bank issued an urgent document and suspended the second. Face-to-face payment services such as dimension payment.
In early August, the Postal Savings Bank launched the QR code business, which largely solved the security problem of the previous QR code payment. The QR code payment issued by the Postal Savings Bank is closed, and each link is controlled in the postal storage system, including the generation of QR code, confirmation of scanning code, payment, etc., all through the system of the Postal Savings Bank. In theory, this payment method will be accepted and accepted. At the same time that the Postal Savings Bank restarts the QR code payment, other banks are quietly preparing for the cake. The mobile phone bank APP also embeds the QR code function. For example, major banks such as ICBC, Agricultural Bank of China, China Construction Bank, and Postal Store display the payment function of supporting QR code. Other banks also support QR code transfer and withdrawal. How far can the bank pay for QR code? Can you catch up with the POS?
The pos machine is an important financial electronic payment device, which is mainly used for card card holders' credit card consumption and transfer. The main body of the market demand and the main body of the distribution are commercial banks and China UnionPay. At present, both commercial banks and China UnionPay have purchased POS machines from relevant equipment suppliers through tendering, and then installed them for free in shopping malls, supermarkets or individual merchants, and from the POS machine credit card consumption amount according to the agreed ratio (about 1%) A handling fee is charged. According to the “2014-2018 China Financial Machinery Industry Development Prospect Forecast and Investment Strategic Planning Analysis Report†released by Prospective Industry Research Institute, in recent years, China's POS terminal ownership has been growing at a high speed. The number of POS terminals increased from 1,845,100 in 2008 to 1,063,100 in 2013, an increase of 4.76 times, and the average annual growth rate reached 41.94%. In 2013, the number of POS terminals in China reached 10.6231 million units, an increase of 49.37% over the same period last year.
Chart 1: Changes in the number of connected POS terminals in China in 2008-2013 (unit: 10,000 units, %)
From the POS machine to open the consumption amount, in 2013, China's total consumption of POS machines through the two parts of UnionPay and non-Union Union reached 31.83 trillion yuan, an increase of 52.81%. From 2008 to 2013, the total consumption of POS machines in China increased from 3.95 trillion yuan to 31.83 trillion yuan, with an average annual compound growth rate of 51.81%.
Chart 2: Changes in total POS credit card consumption in China from 2008 to 2013 (unit: trillion yuan, %)
The above data shows that with the rapid spread of pay card-based debit cards and the rapid expansion of credit card holders in recent years, Chinese POS machine credit card consumption has become the main method of payment in residential consumption. It has gradually spread from the consumption of urban residents to the consumption of rural residents. Whether it is the open-ended two-dimensional code payment or the closed two-dimensional code payment launched by the current postal storage, there is no stable customer group, and the consumers who use the two-dimensional code payment belong to the young family, the customer group. The scope is not as wide as the POS customer group. Therefore, if the QR code wants to catch up with the POS machine, it will be difficult to achieve in the short term.
In addition, the forward-looking industry research institute believes that even if the QR code issued by the Postal Savings Bank has higher security, the QR code payment issued by the Postal Savings Bank is proprietary to the Postal Savings Bank, that is, the mobile banking client of the Postal Service. effective. This "bundling" type of marketing, while solving a large security problem, has raised the threshold for users to pay for QR codes, that is, users can only perform QR code scanning payment by downloading the Postal Bank client. At the same time, the QR code payment of the Postal Savings Bank still has drawbacks such as insufficient optimization of the client, poor user experience, and many obstacles to the payment process. If these problems can not be effectively solved, over time, it will cause a rejection of the user, resulting in the loss of customers. These are the issues that must be considered at the moment when the QR code payment by the Postal Savings Bank.
At present, the bank's two-dimensional code payment is only in the trial promotion stage, and has not been accepted by the public. There may still be some technical or other security issues. Therefore, how far the bank can pay for QR code depends on the policy orientation of the next policy, the level of payment technology of the bank's QR code, and the convenience and other experience factors brought to the user.
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