During a recent visit to China, Apple CEO Tim Cook said Apple is moving forward with talks to roll out Apple Pay in partnership with regional banks and perhaps e-commerce giant Alibaba Group.
Apple has been courting banks in China since last year, trying to get them on board with the company’s new payment system, but so far most of that work has proved fruitless. UnionPay, the only bank allowed to make interbank bank payments in China, has yet to sign up for Apple Pay, and talks with eight other banks have gone nowhere as well. In a country that’s eager for Apple products this is especially troubling. Why all the pushback? According to MarketWatch, Chinese banks believe Apple is simply asking too much money for its mobile payment transactions. [Read more…]
The third-party payment industry led by internet payment, mobile payment, prepaid card, POS (Point of Sale), etc. has continued to flourish since 2014, with market transaction scale hitting RMB23.3 trillion, a year-on-year increase of 35.47%, and 270 licensed companies (as of April 10, 2015), of which, Beijing has the largest number of 58. [Read more…]
LG Uplus announced today that it will offer a new mobile payment service in China in collaboration with KB Kookmin Card and China Union Pay. When customers download Union Pay-branded mobile credit cards, they can make payments through near field communication (NFC) in China and Korea, starting in July, 2015.
Union Pay has set up the NFC payment terminal at more than 5 million stores in China. The cooperation with Union Pay is essential for entering the payment industry in China. [Read more…]
Development Trend and Investment Prospects of China Mobile Payment Market, 2014-2018 primarily analyzes market status and business performance of major domestic enterprises in the Chinese mobile payment industry, and offers advice for investors.
With the increasing of mobile phone users and mobile phone network users, the growth of mobile shopping has reached 400%. An increasing number of users want to place orders and make payment through mobile phones, and such awareness is rising. At present, participants of mobile phone payments include banks, mobile operators, China Unionpay and third party payment companies, which are actively developing mobile payment transaction. [Read more…]
Alipay is a Chinese Mobile Payments company, and provides a number of products and services:
Cross-border Website Payment
1. Real time payment solution:
Chinese buyers purchase products or services from merchants ’website and make a payment in RMB. Alipay will deduct the payment from the buyers’ account in real-time.
Alipay collects payment (RMB) from shoppers to BUY foreign currency, and will then remit the sum to receiving bank account of merchants in settlement. At the moment, we support the settlement of 12 foreign currencies. [Read more…]
Trunkbow International Holdings Limited, a provider of Mobile Payment Solutions (“MPS”) and Mobile Value Added Solutions (“MVAS”) in China, today announced that it has entered into a partnership agreement with China UnionPay (“UnionPay”), China’s leading bankcard association, for the development and marketing of the Trunkbow UnionPay mobile payment applet.
Under the agreement, Trunkbow is developing a UnionPay-certified plug-in applet that will enable m-commerce transactions through UnionPay’s clearing system. The companies expect to launch this applet to merchants in January 2012.
In addition to development and aftermarket support of the applet, the companies will work together to develop and expand the Trunkbow UnionPay merchant network, and market the m-commerce solution to China’s nearly 1 billion mobile phone users.
Trunkbow will receive a percentage of the gross value of each transaction processed through the applet, as negotiated with individual merchants. The Company expects its per-transaction fees to range from 0.4% to 2.4%, depending on the merchant and type of transaction.
“This partnership will provide us with meaningful financial contributions through revenue sharing with both China UnionPay and individual merchants. It represents an important strategic milestone for our MPS business, as it marks the implementation of our MPS technology into a nationwide inter-bank transaction clearing system that processed RMB 11.2 trillion in transactions in 2010,” said Mr. Qiang Li, CEO of Trunkbow. “Smart phone adoption and mobile application use are growing rapidly in China, with tech-savvy consumers migrating to m-commerce in growing numbers. The Trunkbow UnionPay applet can be integrated into an individual mobile application or app store, and provides a new, extremely convenient payment option for consumers. With a defensible first mover advantage and strong partnerships with China’s three wireless carriers and leading clearing house, we are well positioned to capture share in this emerging market.”
Mr. Li added, “The nationwide roll-out of the Trunkbow UnionPay mobile payment applet greatly enhances our merchant acquisition capabilities. Our POS-based MPS platform is active in 24 provinces through all three wireless carriers, and the Bestpay mobile application is being rolled out to China Telecom’s 28 million 3G smart phone users. The addition of the UnionPay mobile applet and rapidly growing number of m-commerce end-users make the benefits of MPS technology, and our solution in particular, increasingly attractive to merchants as an alternative to card-based transactions. Having taken this important step to expand our MPS footprint, we plan to aggressively ramp our merchant acquisition efforts through the establishment of partnerships with online and offline retailers, service providers and other merchants. We believe that this strategy will help Trunkbow build a solid recurring revenue base, resulting in greater stability and visibility in our MPS business, while giving us access to a virtually limitless market.”
The Trunkbow UnionPay mobile payment applet can be incorporated into any existing mobile application to facilitate simple, secure online payments from a user’s mobile phone. Representative transactions include the payment of utility and other bills, purchase of lottery, movie and event tickets, online gaming credits, e-books as well as physical goods from online and brick-and-mortar merchants utilizing the applet.
Source: PR Newswire
99Bill, China’s leading independent third-party payment service provider, joined with its partners recently in Beijing to launch its new ’99Bill+’ payment platform and announce its strategy for mobile payments. The event was attended by over 100 guests, including banking partners, operators, device manufacturers, merchant partners, as well as industry analysts and the media.
’99Bill+’ is a collaborative and open platform that integrates the company’s existing expert personnel, products and services, which help customers improve capital efficiency, with the addition, or ‘+’, of participation by partners, merchants and users. Through an open and collaborative platform, ’99Bill+’ offers a seamless linking of the end-user’s back-end payment system and 99Bill’s front-end e-commerce platform. This enables clients to embed all kinds of new and innovative applications aimed at improving user experience and speeding up the growth of their business. The following are a few facts about each of our three ‘+’ factors:
- Partners: 99Bill has put great emphasis on developing its industry chain and has over 80 banking or financial institutions with over 300 access points.
- Merchants: 99Bill has over 1.1 million merchant partners that span 20 industries, including travel business, insurance, online shopping, logistics, clothing and education, etc.. 99Bill was the first to provide these merchant partners with innovative services like no-card credit card payment, large-amount online payment support and IVR voice payment.
- Users: The ’99Bill+’ platform is meant to be a quick and easy tool that covers all kinds of payment devices and media used across a range of payment scenarios so that users have the best experience possible when making a transaction.
With the growth of 3G, a great deal of e-commerce has gone mobile. Recognizing this trend, 99Bill has reallocated resources to form a new strategy that puts each of the ‘+ factors’ of ’99Bill+’ at its core – partners, merchants and users – integrating them into a mobile payment ecosystem that provides overarching support for all their needs.
During the announcement, 99Bill also revealed a new mobile payment product that supports multiple operating systems and turns the user’s mobile phone into a portable POS device to carry out remote payment, mobile receipt of incoming funds, management of incoming funds for SMEs and P2P payments. At the same time, 99Bill released a new form of ‘mobile payment middleware’ that can be seamlessly integrated into client applications, allowing users to finish payment on the same interface as the initial purchase was made, which greatly simplifies the payment process and results in more successful payments.
99Bill CEO Oliver Kwan said, “e-Commerce is driving the development of specialization and cooperation throughout the entire industry chain. This will ultimately lower costs and improve the level of service. It has also resulted in the emergence of an open, integrated and coordinated industry ecosystem in which 99Bill is using its technological advantages, in partnership with others in the industry, to develop innovative financial services that can better serve our clients.”
Analysts see 99Bill’s decision to launch ’99Bill+’ platform with mobile payment strategy at this time as a clear signal that the company has shown clear core competitiveness and positioning that puts it in a leading position in the e-payment industry since 99Bill won multiple PBoC payment licenses.
Source: PR Newswire
B.Shark, a Chinese company offering worldwide mobile payment solutions, is expanding its market to Thailand. The company’s mobile payment API covers the three major operators in Thailand: AIS, DTAC and TrueMove.
The number of mobile subscribers in Thailand exceeds 70 million, which is greater than the population–so each subscriber has more than one mobile phone on average.
According to the latest figures,the average revenue per user (ARPU) for Thailand operators has a fairly wide range. DTAC, which focuses on high-level business subscribers, has the highest ARPU at 286 THB, followed by AIS at 232 THB, and TrueMove at 112 THB. Most subscribers in Thailand will charge 50 THB each time, and the lowest value recharge card is 20 THB.
In terms of value-added services, the most popular content is music, especially the local music created by Thailand’s popular music singers. The second most popular content is mobile wallpaper. Smart phone owners are frequent users of social network applications. When it comes to games, Texas Poker is one of the most popular.
Chinese mobile payment solution provider, B.Shark, has already launched its global mobile payment API, supporting China-Phone OS, Android OS and also web-based computer social games. The API covers the three mobile operators in Thailand. All mobile game developers and mobile phone producers are free to download the API and integrate with their games or application.
Years ago, operator billing was only applied for value-added services such as ringtones, ring back tones, wallpaper, news, music, and the like. Later it was applied to other fields such as mobile games, game tools and the mobile application market. Now, operator billing is extending to more and more fields, including physical goods payments. B.Shark, a Chinese company offering worldwide mobile payment solutions, now plans to extend its offerings to physical goods payment.
Operators are concerned about being a communication/data channel only, so some operators are reducing operator revenue share, especially reducing their own revenue share when it comes to physical goods payments. That is to say, when customers pay for physical goods via operator billing, merchants will receive a higher revenue share than for virtual goods. This strategy will increase the competitive power of operators when competing with banks.
“B.Shark will launch a physical goods payment solution with the cooperation of an overseas e-commerce platform,” according to the marketing director of B.Shark.
Other mobile payment companies, such as Paypal, Boku and Zong, are also planning to cooperate with e-commerce platforms in the field of physical goods payments.