UnionPay Mobile Pay card issuance exceeds 76 million - bus and subway transactions account increased 40%

Recently, UnionPay released the "2020 China Bank Card Industry Development Report", which details the development and trend of bank cards and the payment industry.

Among them, mobile QuickPass is an emerging payment method based on NFC technology. In recent years, the transaction scale of online and offline scenarios has been increasing, and it has developed into one of the mainstream products of mobile payment. It is understood that as of the end of 2019, mainstream mobile phone manufacturers such as Huawei, OPPO, vivo, Xiaomi, Apple, Samsung, and Meizu have all realized the commercial release of mobile Pay products.

According to the report, as of the end of 2019, the cumulative number of UnionPay mobile QuickPass cards issued has exceeded 76 million. In 2019, there were more than 700 million mobile QuickPass transactions with a transaction value of nearly 300 billion yuan, an increase of nearly 50% over the same period last year.

Judging from the usage of different models, Apple Pay has net additional issuance of millions of cards, and the number of transactions and value increased by nearly 30% and 15% year-on-year, respectively. Offline transactions accounted for the total number of transactions and transaction value. The proportions are about 70% and 84% respectively.

The net increase in the number of cards issued by Android Mobile QuickPass was nearly 10 million, and the number of transactions and transaction value increased by approximately 160% and 72% year-on-year respectively. Offline transactions accounted for approximately 84% and 97% of the total transaction number and value, respectively.

From the perspective of mobile QuickPass’s major net increase in tied cards, Huawei Pay ranked first in the share of tied cards, and the increase accounted for about 47% of the overall net increase in tied cards.

From the perspective of sub-scenarios, buses and subways account for 40% of the overall transaction volume of mobile QuickPass, and the transaction volume of scenes such as supermarket convenience stores and public payment accounts for the second and third places.

In terms of product and function expansion, mainstream models of Android mobile phone manufacturers such as Huawei, Xiaomi, OPPO, and Samsung have fully supported the "card-code integration" function, promoting mobile Pay products to support more than 90% of mobile phone users. It is reported that the UnionPay QR code function of Apple mobile phones will also be launched soon, and will also support the function of card code integration.

In addition to the combination of card and code, UnionPay has also launched a variety of innovative payment products such as mobile POS and touch.

As of the end of 2019, Huawei P series, MATE series, Honor series, Xiaomi Mix2S, Mi9 and other mobile phone models support UnionPay mobile POS function. Moreover, in 2019, China UnionPay continued to improve the security and reliability of its acquiring services on the basis of its original mobile POS products, and independently developed a mobile POS swiping behavior trajectory perception system and a mobile POS see card swiping system to conduct mobile POS transactions. The security monitoring of the card swiping process is carried out in the link to effectively identify the potential risk of fraudulent use.

In addition, the “UnionPay Touch” label payment product uses the contact between the mobile phone and the embedded NFC tag to exchange information, which reduces the merchant’s acceptance cost for mobile QuickPass, and has high security attributes such as tamper-proof and anti-copy. Provide safe and convenient collection services for small and micro merchants. As of the end of 2019, the cumulative number of merchants supporting one-touch payment has exceeded 150,000, and there are more than 20 banks and third-party acquirers.

此外,可穿戴也是一个重要的付款supplement to UnionPay mobile QuickPass. At present, four mainstream device brands including Huawei, Xiaomi, Apple, and Samsung all support wearable mobile wallets, such as Swatch, Lakala, GARMIN, and go out to ask questions. Brands such as Huami and Huami also have corresponding wearable payment products.

The above products related to UnionPay mobile QuickPass and wearable payment need to pass the China UnionPay mobile payment product certification, to examine whether the contactless functions of mobile phone products meet the UnionPay IC card specifications and mobile payment technical specifications, while paying attention to product performance and compatibility. As of the end of 2019, a total of 157 products have passed the certification and are within the validity period of the certification, including 134 mobile QuickPass mobile phones, 22 wearable devices, and 1 other innovative product. Therefore, in general, mobile phones supporting NFC function are still the main form of mobile payment product certification.

In addition, it is worth noting that in addition to mobile flash payment, mobile phone traffic card functions have also been rapidly developed. Not long ago, Apple Pay added support for the Beijing-Tianjin-Hebei Interconnection Card, Shenzhen Tong, and Yangcheng Tong, and the number of transportation cards supported has reached 4; domestic mobile phone manufacturers are the first to go, and Huawei Pay and other transportation cards support up to 40 Zhang, Shao's also supports more than a dozen cities, and with the blessing of "Transportation Union", it can access more than 270 cities across the country.