"China UnionPay Express" unifies the entrances of various banks, which is not the first time that UnionPay has released a big move. During the "Double Twelve" period of 20 15, UnionPay joined more than 20 banks to launch the China UnionPay Kuaijietong payment brand. 20 16, respectively, launched two-dimensional code payment products; 2065438+In May 2007, UnionPay and more than 40 commercial banks launched UnionPay China UnionPay Express Pass QR code products, and cardholders can realize UnionPay China UnionPay Express Pass Code payment through the bank APP. Now all the entrances of banks are integrated with China UnionPay Express APP.
UnionPay said that "China UnionPay Express" is a public platform to provide entrance services for banks. It does not exclude bank apps, but complements and guides each other with bank apps.
Three characteristics of China unionpay express APP:
First of all, in addition to code scanning, China UnionPay Express also provides various ways such as flash payment, face-to-face transfer/remote transfer payment and online payment, which provides users with more choices. The "China UnionPay Express" APP can support the one-stop opening of related services of cooperative banks. The first batch of supporting banks for mobile payment include five major banks, China Merchants Bank, Industrial Bank and Bank of Beijing. In the other three ways, the supported banks are all participating banks in the UnionPay system, and face-to-face code scanning/remote transfer can realize inter-bank real-time payment.
Secondly, the APP realizes the merger of bank card management portals. In addition to the payment function, it also supports bank card services such as debit card balance inquiry, transaction details inquiry, inter-bank transaction notice, credit card bill inquiry and credit card repayment. It is especially convenient for consumers who hold multiple bank cards.
The duopoly UnionPay market is far behind. Data from various aspects show that UnionPay's position in the mobile payment market is really embarrassing.
According to the market share of third-party mobile payment in the second quarter of 20 17 released by iResearch, Alipay accounted for 54.5%, Tenpay accounted for 39.8%, and the sum of other payment companies' shares was 5.8%. In the market share of third-party Internet payment transactions, Alipay accounts for 3 1.5%, Tenpay accounts for 19.3%, and UnionPay accounts for 16.7%. In the field of big finance, the advantages of banks in some personal businesses are no longer obvious. According to the 20 17 survey report of electronic banking in China, 65% of the surveyed users use AliPay as the common channel when handling transfer and remittance, while the proportion of users who frequently choose online banking and mobile banking is 5 1% and 44% respectively. The conversion rates of Alipay, online banking and mobile banking are 87%, 8 1% and 84% respectively. When handling payment business, 80% of users are used to using Alipay, and the common conversion rate of online banking and mobile banking is 76%, and the customer stickiness is slightly lower than Alipay channel. The report also shows that when online payment is needed, 84% and 65% of users choose Alipay or WeChat payment respectively, and 33% and 23% of users choose online banking or mobile banking respectively. On the whole, China UnionPay Express, a full-featured APP, is an opponent that cannot be ignored for Alipay and WeChat. Only WeChat and Alipay have seized more than 90% of the mobile payment market share. It is absolutely difficult for UnionPay to turn losses into profits. It takes time to observe and all parties concerned need to continue to exert their efforts.