In the future, the restructuring of the commercial value of the payment industry will be on the face. The industry has an affirmative answer. Everyone really has high expectations for the 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. Alipay and WeChat both launched their corresponding facial recognition devices, Dragonfly and Frog, and ignited the industry's enthusiasm. Subsequently, UnionPay also launched Blue Whale, a facial payment product, pushing the competition in this field to a new climax.
There are similar views in the face payment industry report released by iiMedia. The report shows that China’s face payment users will reach 118 million in 2019, and will exceed 760 million by 2022, which will replace the scan 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
In order to cope with the commercial depreciation impact of bar code interoperability, Alipay and WeChat will definitely find another way to guard their B-end merchant resources, and will inevitably promote facial payment and reconstruct the commercial value of their own payment services. After receiving the QR code benefits, UnionPay will also take advantage of the victory and strive to occupy a place in the field of facial payment. In fact, this is back to the previous relationship between the separation of parties in the QR code and the aggregate payment. The three giants of Alipay, WeChat, and UnionPay have already entered the round of face-to-face payment, and future 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.
For Alipay and WeChat, it is the third-party payment account they provide, which is associated with the change balance and bank card. For UnionPay, the binding is the bank card issued by the bank. Furthermore, Alipay and WeChat’s face-to-face payment is still based on the basic logic of the previous QR code aggregation payment, and there is no fundamental change in the underlying layer, but the aggregation of face-to-face payment will generate new market demand.
As each face-to-face payment field is squeezed, aggregate payment service providers will also gain new vitality. They can take the opportunity to promote face-to-face payment to fully cover the offline market ecology and reconstruct the value of their payment service providers. It should be pointed out that Blue Whale is an aggregation terminal launched by UnionPay, which can accept UnionPay face payment and WeChat face payment. In addition, it also supports scan code payment of mainstream wallets in the market. Perhaps in the future face-swiping market, there will also be aggregate payment products that support Alipay's face-swiping payment.