So there is still no definite answer for the future reconstruction of the commercial value of the payment industry, but everyone does have high expectations for face payment. From a macro point of view, after the payment behavior has experienced "cash payment-POS payment-mobile phone scan code payment", it has indeed reached the stage of evolving "new species".
At the same time, 2019 is also considered by the industry to be the first year of facial payment. Both Alipay and WeChat have launched their respective facial recognition devices "Dragonfly" and "Frog", which ignited the industry's popularity. Subsequently, UnionPay also launched the "Blue Whale" payment product, which pushed the competition in this field to a new height.
There are similar views in the facial payment industry report released by iiMedia. The report shows that China’s facial payment users will reach 118 million in 2019, and will exceed 760 million by 2022, which will replace the QR code payment. Main payment method. Face-swiping payment, smart medical care, smart campus, smart bank, catering, supermarket, hotel, non-sense parking lot, various scene solutions, software customization development, payment equipment wholesale, please Baidu "Zhangyou Electronic Wei" for details
Some industry insiders believe that in order to cope with the commercial depreciation impact of bar code interoperability, Alipay and WeChat will find another way to guard their B-side merchant resources, and they will inevitably promote face payment and reconstruct their own payment business. value. After receiving the QR code benefits, UnionPay will also pursue the victory and strive to occupy a place in the field of facial payment.
In fact, this is back to the relationship between the "separation of each party" of the QR code and the aggregate payment. The three giants of Alipay, WeChat, and UnionPay have already entered the game to pay by face, and banks and Internet giants are also eager to try. However, each face-swiping payment terminal is not compatible with other payment methods, which will still cause problems for merchants with multiple clearing systems.
Specifically, Jing Cheng, who has been engaged in the payment industry for many years, believes that “the current facial aggregate payment is still realized on the basis of the QR code aggregate payment, and the payment is still based on the account base, but the face payment is based on the original account. Basically, an account base is derived." The payer must perform the account binding operation before making the first payment. For Alipay and WeChat, the third-party payment account they provide is bound, and the change balance and bank card are associated with it. For UnionPay, the binding is the bank card issued by the bank. Furthermore, the facial payment launched by Alipay and WeChat is still based on the basic logic of the previous QR code aggregation payment. There has not been a fundamental change in the underlying layer, but the aggregation of facial payment will give rise to new market demand.
As the various companies in the field of face-swiping payment, aggregate payment service providers will also gain new vitality, and can take the opportunity to promote face-swiping payment to fully cover the offline market ecology and reconstruct the value of their payment service providers. It should be pointed out that the above-mentioned "Blue Whale" is an aggregation terminal launched by UnionPay, which can accept UnionPay facial payment and WeChat facial payment. In addition, it also supports QR code payment from mainstream wallets on the market. Perhaps in the future face-swiping market, there will be aggregate payment products that support Alipay's face-swiping payment.