Country for PR: China
Contributor: PR Newswire Asia (China)
Thursday, July 12 2018 - 12:00
China UnionPay: China Takes the Lead in Piloting Mobile Payment, Delivering Convenience-Enhancing Solutions to Its Populace
BEIJING, July 12, 2018 /PRNewswire-AsiaNet/ --

With just a mobile phone in hand, you can hop on the subway or bus, shop in a 
supermarket or convenience store, pay for needed supplies while on campus or 
settle a traffic fine via the mobile Quick Pass function. This is now part and 
parcel of the daily routine for many people in China.

Today, mobile payments have seamlessly penetrated into every person's daily 
activities and has had a profound effect on their lives. All eyes are on China, 
as the world's most populous country has rapidly taken the lead into the era of 
mobile payment.

China enters the era of convenient mobile payment ahead of its time

A survey of 18,000 consumers across 23 countries and regions by Ipsos, a 
leading international market research firm, shows that 77% of all Chinese use 
mobile payment services, ranking the country first in the world. The 
penetration rate of mobile payment in the United States and Japan has so far 
only reached 48 percent and 27 percent respectively. Given the size of the 
Chinese population, the difference is remarkable.

Taking the daily movement of its population as an example, dramatic changes 
have been observed in the way Chinese commuters and travelers pay when they 
board a bus or subway or drive a car to get where they are going, all of which 
has been made possible by the popularity of mobile payments. Using UnionPay 
mobile payment to settle all fees that occur while in transit is now the 
commonly accepted way to get from point A to point B in more than 400 counties 
and cities across China, with the highest percentages of the population already 
doing so in Shanghai, Guangzhou, Tianjin, Hangzhou, Fuzhou and Jinan.

To cite Hubei province as just one example, car owners who have added their 
vehicle information to the UnionPay app and set up their UnionPay payment 
function as the default payment option can drive through any toll plaza along 
the highway without stopping, and the system will automatically recognize the 
license plate and submit the highway toll.

A convenient mobile payment service for all payment scenarios

With the goal of improving the quality of life through service enhancements 
that benefit every resident in China, a project to evidence the convenience of 
mobile payments under the aegis of China's central bank named the "Mobile 
payment convenience demonstration project" targets areas that are most likely 
to touch on every person's life, including what are referred to as the ten 
major payment scenarios: travel by bus or subway, food market and other local 
convenience shopping, dining, supermarket shopping, use of public services, 
self-service vending machines, on-campus activities, the college or university 
cafeteria, healthcare and settlement of traffic fines, among others. Consumers 
can settle the payment quickly and efficiently as long as they use UnionPay 
app, UnionPay mobile QuickPass and UnionPay QR code payment. 

UnionPay's convenience service network for mobile payment is now available in 
100 model cities across China, with the ability to use the payment option to 
pay for, among other things, clothing, food, accommodations, transportation, 
entertainment and shopping. The UnionPay app and UnionPay QR code payment is 
now available at more than 38,000 merchants in over 1,900 shopping malls as 
well as at 9,000 merchants on 318 college campuses. In terms of paying for 
public services, the payment option is available in over 300 cities across 
China for the settlement of more than 1,700 items including water, electricity 
and gas, while traffic violations in Tianjin and Shanghai can be settled on the 
spot with a direct payment via the UnionPay app. In the public transportation 
sector, UnionPay's mobile payment options, including the UnionPay app, has 
become the ubiquitous way to collect fares in buses, subways and taxis, to pay 
for a plane ticket and to collect highway tolls.

The "Chinese Convenience Project" promotes the universality of mobile payment

Why is China rapidly taking the lead in mobile payments?

This is mainly due to the Chinese central bank's "Mobile payment convenience 
demonstration project" as mentioned above and promoted by UnionPay and other 
major banks. The project is not just a commercial enterprise, but a project for 
the convenience of Chinese the people, with the mission of benefiting the 
populace at large under the aegis of the Chinese government and the support of 
the whole country.

For these reasons, it is not surprising that China has taken the lead in the 
mobile payment era. In the next stage of development for the world's economy, 
China is ready and willing to step up to the plate and extend these benefits to 
the people of the world.

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SOURCE  China UnionPay