UnionPay online payment official promotion Alipay suffered tough opponents

270 billion yuan Chinese online payment market ushered in the new predators. Headphone plug www.dgchatou.com was informed yesterday, China UnionPay has made an important strategic adjustment, the promotion of online payment services included in this year’s priorities.

UnionPay has not yet officially announced this adjustment. But the union official told reporters, a subsidiary specializing in UnionPay online payment service CHINAPAY (e-payment Service Co. Ltd.) is the recent parent company’s assistance, carry out promotional activities in key areas of the country.

last week, they held a promotion meeting in Beijing, Dangdang, NetEase, Wangfujing department store and Air China and other more than and 30 merchants sent representatives.

Chinese online payment market is explosive growth. According to iResearch consulting statistics, last year the market size of 274 billion 300 million yuan, an increase of 181% over the previous year. Alipay and caifutong and other private third party payment companies to provide payment interface for businesses and consumers, to achieve a variety of brush bank card in the online consumer, play a role of UnionPay online.

, however, although the bank UnionPay exclusive bank card interoperability in the network, but in the online long silence. CHINAPAY was founded in 2002, has been low-key operation. The companies have admitted that in terms of market share, the third party payment business leader is Alipay, the second is caifutong, third is CHINAPAY. Many well-known businesses such as Dangdang, Amazon and Jingdong mall, etc., are not currently access UnionPay online payment interface.

, deputy general manager of the Department of the market to accept the cup, said Fang Jianguo, CHINAPAY hopes to become an online payment national team. In fact, CHINAPAY is a literal translation of the English name of China, its market target is self-evident. The real trust, to union existing domestic and foreign resources, technical strength and brand influence, is not difficult to achieve striking. At present, the union offices in key provinces and cities of China, have partners in 61 overseas countries and regions, this is the waterside pavilion CHINAPAY. On the brand, the vast majority of domestic bank cards are printed UnionPay logo, part of the merchant directly to the bank as a bank credit agencies. The background, the union president Xu Luo Ren Deyuan Chinese people’s bank payment and settlement secretary, CHINAPAY chairman Liu Yongchun, former deputy director of the central bank to pay the Department of science and technology.

is facing the challenges from China UnionPay, third party payment company said, previously, in order to cultivate online consumer habits and develop the market, many private companies make great efforts and capital investment, latecomers should not simply pick peaches. CHINAPAY payment services manager Lu Yihua said that the Union will not fight a price war, not simply by means of price competition and other institutions.

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