In 2017, China’s mobile payment habits may begin to restructure

In the past year, mobile payment has undergone new changes. The most notable feature is that mobile phone manufacturers are actively constructing payment systems. It has added more selectivity to Alipay and WeChat payments that traditionally dominate China's mobile payment system. At the same time, the innovation and diversification of mobile payment methods have brought new demands and opportunities. In 2017, mobile payments will be more convenient and more popular, and will certainly lead to the re-construction of past mobile payment habits.

Comprehensive upgrade of technology to promote mobile payment to mobile phone manufacturers

When it comes to China's mobile payment, I believe that people's first reaction is Alipay or WeChat. These two payment platforms have indeed played an important role in the mobile payment life of Chinese people in the past few years, whether it is offline scanning or online payment. These two payment platforms are of great significance to the popularity of mobile payment methods. However, in 2016, mobile phone equipment manufacturers such as Apple and Samsung joined mobile payment, which added a new choice to people's payment behavior. Among them, the popularity of technology has become a key factor. For these mobile phone manufacturers, NFC chips have become the mainstream solution for mobile payment, and are becoming popular. Following Apple and Samsung, Chinese smartphone brands such as Huawei, Xiaomi and Meizu are In 2016, NFC-enabled smartphones were also released, which will further promote the rapid spread of mobile payment technology. TrendForce estimates that more than 60% of smartphones sold in 2017 will have NFC capabilities. The security and convenience of this technology will quickly change the consumer's payment habits. At the same time, more than 50% of smartphones sold in 2017 will have fingerprint recognition, and more high-end phones will be equipped with iris recognition technology. Obviously, the application and popularity of these new technologies will change people's payment habits. And in 2017, perhaps these technologies will become "standard" for mobile phones.

Mobile phone manufacturers compete for huge market for mobile payment

Market research firm TrendForce also predicts that the global mobile payment market will reach $780 billion by the end of 2017, an increase of 25.8% compared with 2016. In the first half of 2016, Samsung's Samsung Pay and Apple's Apple Pay continued to set off a mobile payment trend. As a mobile payment platform that combines intelligence and convenience, no matter where the user is, they only need to take out the mobile phone and easily complete the payment in a few simple steps. Subsequently, Huawei Pay and Xiaomi Mobile MI Pay were also launched. Among the many vendors, Kelly Hsieh, senior research director at TrendForce, said: "Apple and Samsung are the most advantageous among smartphone manufacturers who are actively building mobile payment technologies."

Convenient and extensive will pay for mobile phone mobile

If the mobile phone manufacturers that entered the mobile payment field in 2016 are only a small test, then 2017 will obviously be an important flowering result and a key period for cultivating the market. In an era of advocating "lazy" and "convenient", it can simplify the user's perspective, even if it is a step, it may win a new market space for itself. In this regard, Samsung Pay has an advantage over Apple's Apple Pay: Samsung Pay has three advantages: wide, convenient and secure. Samsung Pay supports innovative MST (Magnetic Signal Security Transmission) technology combined with NFC technology. It can be used not only for NFC terminal POS machines, but also for magnetic card type POS machines without NFC function, so it can be used in most offline businesses with POS machines; in terms of convenience, Samsung Pay is not only a lock screen, On the black screen or the main screen, the consumer can slide up from the bottom of the Home button to call up the bank card, and then, through fingerprint authentication, the authentication is successful and then enter the payment state. At this time, the mobile phone is close to the card slot area of ​​the payment terminal or the NFC reader. In the area, you can complete the payment; in terms of security, Samsung Pay relies on fingerprint authentication, payment token (Token) and Samsung's unique Knox technology to ensure the user's payment security. Compared with Samsung Pay, Apple's Apple Pay is only a big difference in terms of extensiveness. Since only NFC terminal POS machines are supported, most of the magnetic card POS machines on the market cannot be overwritten and become Apple Pay. A big dilemma. In comparison, these advantages, combined with Samsung Pay and Alipay, greatly simplify the operation steps of Alipay, more convenient for the use of Alipay application groups, further enhanced, and will no doubt be Samsung Pay At the end of last year, after Samsung Pay's support for the traffic card swiping service, its advantage is even better than Huawei's Huawei Pay, which supports the transportation card service. Xiaomi's MI Pay has an advantage in this respect, without starting the Samsung Pay application. Easy to swipe, Huawei Pay and MI Pay have to make an extra operation to select or wake up the traffic card. For those who take public transportation, the meaning of one or two fewer steps is self-evident.

Samsung Pay will lead the restructuring of mobile payment habits

In summary, the change in mobile payment in 2017 is an inevitable trend, and mobile phone manufacturers will become the protagonist of this change process. First, more convenient and more extensive mobile payment applications will take the lead; secondly, cross-platform payment capabilities will gather more users; once again, online and offline integration will also become an important factor. In these respects, the first two Samsung Pay are far ahead, and it is foreseeable that the realization of online payment will not be long. By then, a new era of mobile payment will be opened. Of course, what we call refactoring is not to replace or negate the current mobile payment methods. On the contrary, it is in line with the current mobile payment methods and simplifies and upgrades them. For example, Samsung Pay and Alipay have greatly reduced the steps of Alipay users and helped to improve the traditional experience of Alipay, a payment application.