China UnionPay related people listed the four major competitiveness of the product: First, mobile POS is a software product, which can be lower in price than traditional hardware computerised cash register, and may also reduce maintenance costs by employing the upkeep system of cell phone manufacturers; The POS app runs on the TEE+SE platform, so Android may be opened for easy integration with various application scenarios. Third, because the QR code trade also conducts on the TEE+SE safety platform, the security is greater; Mobile phones will be utilized by everybody, and training costs are low.
Two of those"TEE+SE" cited are two safety technologies, and they are"escort" for mobile phone POS, which also continues the design of UnionPay in this regard. Earlier, many insiders told the Beijing Business Daily that the safety and advantage of UnionPay NFC technology has been"always on". According to the statistics, the total fraud rate of UnionPay online in 2017 has been 1.36BP, that was significantly lower than the international and Asia-Pacific average. The annual fraud rate in 2017 was only 0.18BP.
Along with technical assistance, UnionPay also has stricter settings on human standards. As stated by the above-mentioned important person introduction, the cell phone POS can be opened to micro and small retailers, but based on the different data submitted while the retailer opens, it has different degrees, corresponding to distinct transaction limits, along with the opening needs a strict review process, and the person cannot Open it will.
Based on Xue Hongyan, director of the Internet Finance Center of Suning Financial Research Institute, the cell phone POS product released by UnionPay has enabled the wise phone to possess POS function, which frees the POS acquiring business from the reliance on the exclusive POS machine and lessens the layout and upkeep of the scene. The price can be more easily penetrated into various offline scenes, starting up a broad market space for POS acquiring company.
Actually, direct POS receipt through mobile phones is the ultimate fantasy of the payment market. From the traditional"many" POS machines which were recognizable to individuals, to the matchbox-sized cell phone card subscribers in recent years, the quantity of POS machines has become smaller and observable to the naked eye.
This reflects the increasing demands of individuals on the convenience experience. At precisely the same time, safety performance has always been among the most important factors. The item is still an external device. After linking the mobile telephone, the mobile phone can realize the bank card receipt. The retail price is only tens of yuan into many. The handiest thing is that lots of manufacturers' equipment can submit an application for an ID card and a bank savings card.
However, the low threshold also gives the criminals a opportunity to make the most of those. When many merchants sell products, they directly use"cash-out" as a selling point, claiming that"charge card cashing, low commission, handy and quick".
Since then, the payment pro has introduced a product that directly inserts the card slot into the mobile phone, but all these products will need to pass the UnionPay certification, along with the cell phone replacement rate is extremely fast, and it is essentially hard to pass the CUP certification practice, and new models will appear. Coupled with the absence of information security at the moment, such products have not ended. Xue Hongyan explained that all kinds of cell phone POS products on the market were essentially intelligent upgrades to classic POS machines. They did not fix the problem of POS business reliance on machines that are exclusive, and it wasn't revolutionary.
He analyzed that in terms of functional positioning, the cell phone POS product established by UnionPay is not to replace the smart POS machine, but a mathematical instrument to help the POS acquiring business sink to various scenes that must not be dealt with by smart POS machines. Go in. Therefore, the competing goods of cellular POS products are not wise POS machines, but payment methods like offline code payment, transport and even cash trades. Compared with these payment tools, mobile POS does not have any problem in terms of receipt efficiency and risk control. Even with technical smart POS machines, it isn't expected to put pressure on small dual-free wind control through a well-equipped risk control system, like the retailer grading system along with the real-time risk control plan.
But, some insiders have reservations about the evolution of cellular POS. According to industry insiders, UnionPay's cellular POS is a counter-attack product developed for the offline under-acquisition environment, which is being eroded by WeChat payment and Alipay. By way of instance, the current fast payment code of WeChat, both parties only need a wise phone to finish, without the need for different devices. However, WeChat payment and Alipay can easily occupy the industry not only because of the payment function, but also the extensive service provided by the 2 users makes the mobile phone POS difficult to compete.
Another payment business individual told the Beijing Business Daily that at present, the program scenarios of mobile POS are extremely restricted. Due to the lower and reduced cost of POS machines in recent years, combined with the growth of two-way payment, many retailers can buy a scanning code device for payment of over 200 yuan. The size of the POS machine is already large, and the installation is near saturation. In cases like this, there are not many scenes which have to utilize the cell phone POS. For instance, going to the countryside, it is inconvenient to bring a large POS machine, so you can decide on the mobile phone POS. The UnionPay also said in the introduction that the acquiring institution can use the cell phone POS A broader small micro market, rural market, international market, etc..
"If a mobile phone is connected with all the POS acquiring function and frequently scans the code, it is going to have to be questioned if the use of different functions will be affected. At the exact same time, be wary of it becoming a brand new jelqing tool" The above-mentioned payment industry further said that cellular POS The launch of the POS device makers will also form a competition to some degree.
The 2017 fiscal report published by many POS manufacturers has proven a clear differentiation. The firms with rapid transformation have claimed positive growth in earnings and net gain. The net profit of several companies that have not caught up with the rate has dropped by almost 50 percent. The industry believes that the production of POS equipment itself includes a historical burden supporting the development of the payment market.
These are the reasons not to optimistic regarding the prospects of cell phone POS development. However, UnionPay also said from the product positioning debut that mobile phone manufacturers will have the opportunity to take part in the formerly closed businesses such as POS, and re-energize the POS marketplace. Consumers may complete payments anywhere, anytime, even in the way that they enjoy, and their function transitions with retailers will become easier. For preventing cashing, UnionPay said that UnionPay will take steps to prevent it by adopting real-time hazard control and"low-level retailers' low quota" measures.
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