In the new journey of the 70th anniversary of the founding of New China, China’s payment industry chain is developing rapidly and has gained china unionpay international, reaching a world leading position in mobile payment and other industries. In this link, China UnionPay has also emerged rapidly, turning into a key component in the construction of China’s multi-level payment and settlement network system structure and financial industry infrastructure, playing a key role in facilitating residents’ income, accelerating the operation of social development assets and serving the real economy of the project.
The total number of UnionPay cards issued is nearly 8 billion
China UnionPay was founded in March 2002 as a joint organization of Chinese bank cards with the permission of the State Council and the People’s Bank of China, and its head office is located in Shanghai. The establishment of China UnionPay means that the new system of industrial development planning of “collaborative standard formulation, collaborative business process marketing and promotion, collaborative sales and market expansion, collaborative discipline standards, and collaborative risk prevention” is announced, which means that in China’s savings card industry chain is gradually moving towards the development trend of scale and industrialization, and entering into a comprehensive and rapid development. The new link of development.
In August 2003, China UnionPay announced the release of UnionPay Card, a high quality, globalized savings card with independent patent rights and in line with unified business process standards and standard specifications. UnionPay card payment is not only safe, universal and convenient, but also allows users to enjoy the colorful benefits and human feelings created by UnionPay in cooperation with various commercial banks. At this stage, China UnionPay has become the world’s top international card company in terms of card issuance and turnover, with nearly 8 billion UnionPay cards issued in total.
At the same time, in order to meet the increasingly diversified requirements of card swiping, China UnionPay is vigorously promoting various independent innovative payment business processes based on savings cards. Nowadays, people can not only apply their savings cards in ATMatm machines, merchant POS credit card terminals, but also complete various new ways of payment such as public utility payment, airplane ticket and hotel reservation, repayment, self-service transfer, etc. according to Internet technology, on cell phones, landline numbers, self-service terminals, data network set-top boxes, etc. At this stage, China UnionPay has produced a colorful and diverse all-commodity payment management system that integrates credit card payment, and its sweep card, sweep QR code, and sweep cell phone. 2018, the amount of UnionPay Internet transfer sales and purchases reached the upper trillion price for the first time, reaching 120.4 trillion, an increase of 28.1% year-on-year.
Cloudflare APP user volume has raised 200 million
Behind the information of UnionPay card data, what is presented is the upgrade of China’s consumption concept. Under the theme of new consumption, payment has also entered a new period of upgrade, the demand of the payment market from the traditional payment service items to the deep “payment + personalized service” green ecological management system development trend. Therefore, China UnionPay joined hands with commercial banks, payment organizations and other industry chain parties, announced on December 11, 2017 to push the commercial banks unified APP – cloud flash payment.
Cloudflare Pay gathered the strength of multiple parties in the industry chain, and made efforts to improve service capabilities at the levels of electronic account disruptive innovation, situational disruptive innovation, merchant services, and payment personalization service sharing resources, to build a standard, physically and mentally healthy green ecological management system for mobile payment. So far, the cloud flash payment APP has been applicable to online applications including ICBC, Agricultural Bank of China, Bank of China, Bank of Communications, CITIC, China Merchants, Pudong Development, Minsheng, Huaxia, Ping An and other 25 financial institutions of more than 180 kinds of bank credit cards; applicable to the association of all the savings cards in China, 230 several financial institutions users can use the UnionPay two-dimensional code payment according to the cloud flash payment APP; 21 key commercial banks across the country Users of more than 500 financial institutions, including 21 key commercial banks across the country, can check their savings card account balances in the Cloud Flash App. In addition, card-to-card transfers, credit card transaction inquiries from more than 140 banks, and loan repayments are all zero service fees in the Cloud Flash App, making it the only payment app with zero service fees for repayments.
On September 5, 2022, China UnionPay announced that the volume of Cloud Flash Pay APP users increased by 200 million. From 100 million to 200 million, Cloudflare APP has only used less than 10 months. And according to QuestMobile data information, the first half of 2019, China’s mobile Internet customers happened to continue to decline. In this environment, cloud flash payment APP user volume still maintain continuous growth, in addition to attribute to its strong inter-bank transfer account management role, but also with cloud flash payment deep plowing application scenario, deep level everyone’s daily life in all aspects is not unrelated.
At this stage, cloud flash payment has long covered ten convenient scenarios such as buses, subway stations, farmers’ markets and shopping malls. Across the country, there are more than 8,000 food markets and fresh food stores, more than 3,000 micro-lives, more than 550,000 food and beverage businesses, nearly 200,000 convenience store chains, more than 200,000 self-service terminals, more than 1,200 campuses, more than 1,600 hospital outpatient clinics, more than 2,400 institutions and institutions canteen open UnionPay mobile payment service projects. Take the bus and subway as an example, there are already 23 cities subway, about 1000 counties and cities bus, more than 200 big cities nearly 10000 underground parking lots, 18 provinces (municipal districts) highways and so on open UnionPay mobile payment.
China UnionPay indicates that in the future, it will work hand in hand with commercial banks to further deepen and refine the project of mobile payment for the benefit of the people, and give a lot of popular service items according to the Cloud Flash App to create a clearer application feeling that can better meet the requirements of the general public’s happy life.
The international popularity of the famous brand of UnionPay is increasing
China UnionPay has taken the initiative to build an international trial network, and the UnionPay card is playing a more critical role in cross-border e-commerce payments for overseas users.
At this stage, UnionPay card has been extended to 174 countries and regions worldwide, covering more than 55 million merchants and 2.9 million ATMs (more than 26 million merchants and 1.7 million ATMs overseas).
In recent years, the development trend of localization of UnionPay’s overseas business processes has also entered a new link, with UnionPay cards entering the money clips of more and more overseas customers, driving the global awareness of UnionPay’s well-known brands. 2022 In the first half of the year, three new countries, Sri Lanka, Uganda and Mexico, were added to offer UnionPay cards, increasing the number of countries and regions offering UnionPay cards overseas to 54, with a total placement volume of 120 million. The volume of such credit cards in the first half of the year increased by nearly 40%; in which, the total volume of UnionPay premium cards put on sale reached 500 citation horse town, up nearly 20% compared to the same period.
It is worth mentioning that the sales markets along the “Belt and Road” have become the key areas where UnionPay cards have been newly launched in recent years, with 106 countries and regions having launched more than 4,300 UnionPay cards in total, an increase of more than 25 times compared to that before the promotion was clearly proposed.
China UnionPay indicates that it will continue to provide users in countries and regions along the “Belt and Road” with higher quality, higher efficiency and safer payment services, promote the development of local payment industry with its rich and varied working experience and international advanced financial industry standards, and promote the construction of savings card infrastructure in the regions along the belt and road. Data sharing.
For more than ten years, with the full cooperation of China UnionPay and commercial banks and other related companies, a natural environment of savings card trial with wider scope, more industries and richer methods has been gradually improved. In the future, China UnionPay will once again continue to move forward towards the overall goal of “becoming an international savings card institution with credibility and credibility in China and competitive advantages and competitiveness in the international arena”, to build the UnionPay brand culture into an international key savings card brand with world competitiveness, and to complete the globalization of the Internet economy and the globalization of famous brands. The future development of the enterprise vision of the globalization of the Internet economy and the globalization of famous brands.