Face-swiping makes the payment ecosystem return to the hardware era. The production, sales, laying, and maintenance of face-swiping payment devices involve a lot of costs. Objectively, there are problems such as high risk of cargo pressure, difficulty in later service, and high cost of local delivery. The model is heavy and the benefit is low, resulting in The willingness of banks and most small and medium-sized payment institutions to enter the market to pay with their faces is much weaker overall.
As UnionPay enters the game with a high profile, 2019 is also a year when Alipay and WeChat Pay have invested heavily in the deployment of the facial payment track. Beginning in 2014, Alipay and WeChat Pay have successively started the research and development of facial payment and conducted commercial exploration. 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
In 2018, Alipay announced that it would popularize self-service cashier + face payment solutions in various business scenarios in the next year, and launched the lightweight face payment terminal Dragonfly, which will carry out large-scale commercial promotion of face payment. In 2019 On March 19th, WeChat Pay displayed the lightweight face-scanning payment terminal Frog at the Service Provider Conference, and launched the double-sided screen Frog Pro in less than half a year.
When the giants are catching up with me, the second-tier Internet camps such as JD.com and Meituan are also eager to try, and try to use facial payment applications in some offline retail scenarios, but from the scale of the landing scene and market acceptance ,General effect. For most banks, their own account popularity is low, talent reserves are small, and capital use decision-making process is long, which also leads to a wait-and-see situation.
The entry of UnionPay has brought new variables to this market. Because of the two identities of the clearing entity and the bank card brand, UnionPay naturally has the basis for cooperation between banks and payment institutions. UnionPay takes the lead in formulating standards, docking cooperation, and landing services, which is already a mature cooperation model. In the past few years, UnionPay has actively promoted the mobile payment market through its cloud QuickPass App. The popularity of accounts has gradually increased and the industrial ecology has gradually formed.
According to the data released by the cloud QuickPass, the cloud QuickPass supports the binding of all domestic bank cards. Cardholders of more than 230 banks can use the UnionPay QR code to pay through the QuickPass App, including 21 major commercial banks. Cardholders of more than 500 banks can check the balance of their debit card in the QuickPass App. In addition, in the Cloud QuickPass App, card-to-card transfers, credit card bill inquiries from more than 140 banks, and repayments are all zero handling fees. In September of this year, it officially announced that the number of its APP cloud QuickPass users exceeded 200 million.