Years ago, traditional POS machines only provided basic processing that were more convenient than cash transactions, but provided little help when it came to sales analysis. Smart POS started gaining traction in 2014 and grew rapidly as merchants juggled many different payment channels. A smart POS can process QR code, bank card, Quick Pass, as well as analyze business data, maintain membership details and combine online–offline sales. In December, UnionPay and Alipay both launched new acquiring products.

On December 11th, 2017, China Union Pay (CUP), together with over 30 commercial banks and payment institutions, launched a new version of its mobile payment APP, QuickPass (云闪付), starting a new battle in the mobile payment industry.

The RuPay is an initiative by the National Payments Corporation of India (NPCI). It is intended to provide a domestic alternative to the global MasterCard and Visa card payment systems. It will also allow NPCI to consolidate various payment systems in India. It is directly comparable to its Chinese counterpart, China UnionPay, which has been highly successful and is a world leader in payment systems.

The recent wave of Alipay partnerships with merchant acquirers has spanned the globe. With the common goal of letting Chinese tourists pay with Alipay, one of their favorite payment methods, Ant Financial has partnered with Wirecard in Germany, Ingenico in France and First Data in the US.

The recent announcement that Canadian merchants will now accept UnionPay’s mobile QuickPass payment, along with Ingenico partnering with Alipay to provide mobile payments in Europe, highlight that huge strides are being made by both UnionPay and Alipay to infiltrate Western markets and that these efforts are being supported by the Western payments industry.

China is pushing its card industry towards tokenization as it seeks to make digital payments more secure on the Mainland. Banks and payment service providers (PSP) are required to use tokenization to process transaction data by the end of this year, according to Chinese business publication National Business Daily, citing a notice from China’s central bank.

The long expected payment system of smartphone producer Xiaomi has finally entered the market. By cooperating with China’s dominant card-payment processor China UnionPay, users can now make purchases by using their phone and Xiaomi Pay through China UnionPays’ Quickpass system. The company’s latest offering comes as the third-party mobile payment market continues to grow tremendously. According to research firm Analysys Mason, the market valuation was set at 16 trillion yuan in 2015. This has attracted not only Chinese companies such as Huawei and Xiaomi, but foreign companies, as well.

Although UnionPay is known for its control of the domestic Chinese payment market, it also has over 50 million cards issued overseas. So in other words, a China UnionPay branded card issued by a foreign bank in a foreign country and a foreign currency. In its international push, UnionPay would like its cards to be used both online and offline. Foreign cardholders are increasingly using them for paying at POS and for ATM cash withdrawal, however, there was never a compelling case to use UnionPay cards online, where established card brands like Visa and MasterCard dominate.

In January 2015, UnionPay Smart, a China UnionPay company specialized in business intelligence, customer profiling and online marketing, announced an agreement with Isobar China, a part of global Top-5 advertising conglomerate Dentsu Aegis. Together with Isobar China, UnionPay Smart will build a data management platform (DMP) targeting online advertising.

The US online payment service provider PayPal has big plans for helping merchants and customers worldwide. Earlier this week, it has announced his partnership with the most popular payment card in China UnionPay to provide Chinese cross-border shoppers with an easier way to complete their transactions via UnionPay Online payments. The ability to make purchases using UnionPay cards has been one of the most requested features from Chinese customers.

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