The Communications Information Daily reported today that at the Huawei Pay two-year-old celebration, Huawei Pay will join hands with China UnionPay to focus on financial, urban transportation, non-sense parking, school-enterprise parks and other scenarios. At the same time, it will launch UnionPay. Touch "NFC tag payment products. The cooperation between Huawei and UnionPay, although unable to shake the position of Alipay and WeChat payment in the field of mobile payment, is still a strong competitor for the market.
With the booming mobile payment market, UnionPay, another protagonist of this event, has already carried out a number of countermeasures, but it is inevitably affected by mobile payments. The future B-end (enterprise) market may Become the new direction of UnionPay.
Mobile payment market ushers in a strong competitor
Speaking of China's mobile payment, this has not only become a business card proud of the Chinese people, but its convenience has also made foreigners feel very happy. In recent years, mobile payment has also been selected as one of China's "new four major inventions." According to Analysys released "China's third-party mobile payment market monitoring report for the first quarter of 2018" data, Alipay and WeChat payment have occupied most of the domestic mobile payment market, of which Alipay occupied the top spot with 53.76% market share, ranking The second Tencent Financial (WeChat Pay) market share is 38.95%, and the total share of the two is 92.71%. It can be said that China's mobile payment market is now the world of Alipay and WeChat payment, which have already occupied an absolute market advantage. In this context, Huawei and UnionPay have cooperated with each other and are still regarded as a strong competitor in the mobile payment market for cards and Alipay, and the reasons for this, Huawei and UnionPay's own strength should not be underestimated.
Huawei began to enter the mobile payment field, Alipay WeChat panic?
Huawei is a leader in domestic mobile phones, and its mobile phone sales have achieved fruitful results both at home and abroad. According to data released by IDC in early August, Huawei's mobile phone shipments reached 54.2 million units in the second quarter, surpassing Apple as the world's number one mobile phone brand. At the same time, Huawei's application market data shows that Huawei's wallet installations reached 2.7 billion, which laid a good foundation for Huawei to impact the mobile payment market. The advantages of UnionPay in the field of electronic payment need not be said. As the only bank card organization in China, electronic payment itself is the basis of UnionPay business.
Duopoly and bank payment hurt each other
The mobile payment market is a golden treasure, attracting major Internet companies to rush, BAT will not let go of this important market. Ali's Alipay, with the boom of e-commerce, quickly expanded in the mobile payment market. Since 2008, it has expanded its business scope and accessed public utility services, which has been widely recognized by users. In recent years, under the new retail trend, Alipay The continuous development of offline subsidy activities has further established its dominant position. WeChat payment has used WeChat's extensive influence to enter the market. With huge subsidies and social promotion, it has quickly become another spot in the mobile payment market. In the early years, Baidu also launched a layout in the mobile payment market and released products such as Baidu wallet. However, with the increasing consolidation of Alipay and WeChat payment status, Baidu's development in the mobile payment market is gradually decreasing. Today, with the growing position in the domestic mobile payment market, Alipay and WeChat Pay have begun to focus on the overseas travel market.
What we must admit is that with the growing prosperity of mobile payment, UnionPay, which is mainly based on bank card business, will inevitably have an impact. In particular, the payment agencies have adopted a "direct connection" mode, bypassing UnionPay, and even more Let UnionPay appear more passive in the mobile payment market. At the same time, when Alipay and WeChat payment are booming, UnionPay is also eyeing this market. In the past few years, UnionPay has never given up the mobile payment market, promoted payment products including UnionPay wallets, and launched a number of powerful impacts on the mobile payment market through large-scale subsidies.
There is still room for competition in the B market.
It is difficult to shake the status of Alipay and WeChat payment, but Huawei and UnionPay are not without development opportunities. The B-side (enterprise) market is still a good field. Nowadays, the C-side (personal) market has been deeply explored by Alipay and WeChat payment. In the face of these two giants, there is limited opportunity to spur the C-end market, but the B-end market is different. Enterprise users have high requirements for the amount of payment and the security of payment methods. If you can get through the upstream and downstream of the industry and combine the funds, payment, settlement, and value-added financial services of enterprises, it is not a new opportunity in the mobile payment market. Moreover, the bank itself pays the scene itself, and it has a natural advantage in the resources and services of the corporate customers. Overall, Huawei continues to improve its own ecological service scenarios, use the advantages of mobile phones, expand the richer payment possibilities, and also occupy a certain position in the mobile payment market, and UnionPay also has great development potential in the B-end market.
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