As of the first quarter of 2015, there were over 5.7 million non-connected POS terminals.
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The industry believes that 2015 is a crucial year for the explosive growth of financial IC cards. Since the release of the first bank card by the Bank in 1985, the popularization of bank cards in China has been carried out for 30 years and has undergone earth-shaking changes. In the early days, the people's living standards were low, the consumption concept was traditional, the means of payment was single, and the cash payment was mostly zero. The bank card was not accepted by the public. With the growth of the national economy and the development of communication networks, bank cards have gradually entered the lives of ordinary people; however, each bank has its own system, and the merchant counters have to place POS machines with various lines of identification, which brings a lot to both parties. trouble. Until 2002, China UnionPay was established, standardized and unified China's bank card system, and in August 2003 launched the "62" BIN number of UnionPay standard cards, filling the gap in the domestic bank card market for a long time without independent brand cards. Realizing the goal of “one card in hand, going all over China†is a milestone.
From January 1, 2015, in economically developed regions and key cooperative industries, bank cards issued by commercial banks with RMB settlement accounts should be financial IC cards. As one of the most important functions and features of financial IC cards, “Flash Pay†is also opening up the whole “core†world of Chinese consumer spending.
In the era of "Internet +", Flash pays to lead "consumption + life"
Driven by the "Internet +" outlet, UnionPay financial IC cards have entered the new era of "payment + consumption + life" in line with the trend of the times. "Payment +" is an extension of the payment function and the areas involved will be broader. Its application scenario is more abundant. From online to offline, from the cloud to consumer terminals, to lifestyle, financial IC cards have opened up the entire channel of mobile phones, consumption and life, including supermarkets, shopping malls, restaurants, entertainment and parking lots, bus systems, and farmers. The non-receiving payment layout of the market and smart parks has matured. Compared with the scanning code settlement method from online to offline, UnionPay “flash payment†is not only convenient and safe, but also does not need to consume Wifi or international roaming traffic. The emergence of the “Payment+†platform has really simplified the payment process, saving time and convenience, and improving the quality of modern life.
Payment also becomes "wearable"
All kinds of intelligent software and hardware represented by wearable devices are opening up people's smart life, and payment is no exception. Not long ago, Industrial Bank jointly released the "Xing Power" credit card bracelet. In addition to the card-swapping function, it can also realize the credit card credit exchange through cloud data sharing, which is healthy and happy, and brings more safety and convenience to users. , a quality payment experience.
China UnionPay experts said that financial IC cards will be experiencing explosive growth in the next few years. "The development of the financial smart card industry is inseparable from industry cooperation and application. After several years of development, financial smart cards are increasingly used in social security, public transport, medical care, education, electric power, railway and other industries. In the future, UnionPay will continue and cooperate. Partners, play a superior resource, explore a variety of cooperation models, and cooperate in more industry sectors to provide cardholders with more inclusive services."