Emerging artificial intelligence technologies are constantly being applied to payment scenarios, from fingerprint payment and voiceprint payment to face-swiping payment. The spread of new technologies can always exceed our expectations and quickly penetrate into all aspects of life. With stricter industry supervision and continuous iteration of smart applications, the dual role of the payment industry is ushering in a revolutionary turning point-facial payment has begun to become popular.
Thanks to the promotion of the central bank, in the past two years, aggregate payment has become a blue ocean for entrepreneurs. Scenes where Alipay and WeChat Pay share a barcode are all over the streets. The time and transaction costs saved by consumers have promoted the optimal use of social resources. 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
There are more than 70 million small and medium-sized merchants in China. Not only are they numerous and diverse, but most of them lack basic payment knowledge and computer deployment capabilities. Therefore, payment giants Alipay and WeChat Pay have opened payment platforms to service providers to provide services to merchants all over China. Mobile payment technical service support. It can be said that the prosperity of mobile payment in China is inseparable from the efforts of a large number of service providers.
Although it is the Red Sea market, the payment industry still faces challenges. It is precisely because the market is hot that it gives some institutions the opportunity to enter the payment market through improper channels. The Payment and Settlement Association also interviewed the heads of eight payment institutions in response to the chaos of illegal misappropriation of payment interfaces in the first half of the year. The macro supervision of the payment industry has become increasingly strict.
According to a third-party data report, my country's mobile payment market transaction share reached 55.4 trillion yuan in the first quarter of 2019, of which Alipay and WeChat Pay accounted for 93.7% of the market. In China's mobile payment market, every move of the two giants is leading the trend of the overall format. In the strategic layout of the giants, we can see the future of mobile payment.
Alipay has long tried to combine artificial intelligence with mobile payment, and has successively created services such as unmanned stores and smart retail for diversified offline scenarios. Among them, the application of facial payment is a vital part. Alipay launched the Dragonfly I and Dragonfly II face-scanning terminal devices in December last year and April this year, respectively. At the same time, WeChat was unwilling to do so, and launched the frog face payment terminal device in March. The symbiosis of dragonfly and "frog" also indicates the fierce competition between the two giants in the field of facial payment.