For a long time
When users shop offline
WeChat and Alipay cannot scan each other
When shopping online
Settlement in Taobao shopping cart
Cannot use WeChat Pay, UnionPay Cloud QuickPass
But now, this situation is being rewritten
Alipay announced today that it is cooperating with and China UnionPay to promote online and offline multi-scenario payment interconnection under the principle of safety and order.
At present, 85% of Taobao's shops already support consumers to pay through cloud flash payment. Users who install the Cloud QuickPass app can directly choose "Cloud QuickPass" to pay at the Alipay cashier after submitting an order on Taobao Shopping.
At present, in Beijing, Tianjin, Guangzhou, Shenzhen, Chengdu, Chongqing, Xi'an and other cities across the country have achieved mutual recognition of collection code scanning, and plans to cover all cities across the country in March next year.
On September 30, the day before the National Day holiday, WeChat Pay announced that it has officially realized the mutual recognition and scanning of offline barcodes with the UnionPay Cloud QuickPass APP.
users can scan the WeChat payment code through the Cloud QuickPass APP to complete payment in provincial capitals across the country. In addition, the cloud QuickPass app fully supports the top-up services of Q coins, QQ music and Tencent Video.
Previously, the barrier between Alipay and WeChat Pay has been slowly opened. Many applications under Ali have access to WeChat Pay. Are you hungry, Youku, Damai, Koala, Shuqi and other "Ali" APP users can already use WeChat Pay when making payments .
In addition, the Douyin payment officially launched in January this year, in addition to supporting Douyin payment, you can also use Alipay and WeChat payment; JD’s payment methods include JD Pay, WeChat Pay, Cloud QuickPass, Apple pay and Find a WeChat friend to pay on your behalf; in the Meituan App,The payment interface display includes Meituan Pay, Alipay, WeChat Pay, Apple pay, etc.
Netizens who suffer from various payment methods
are very welcome to the "breaking the wall" of the giants!
There is no "wall" in the 1 billion mobile payment market?
Recently, under the coordination and rectification of relevant departments, major domestic platforms are gradually lifting restrictions and achieving interoperability. For example, Tencent's QQ and WeChat have opened external links before. Now it has come to the step of integration of payment methods.
In fact, the call for bar code interconnection has been around for a long time. As early as 2016, UnionPay cooperated with a number of banks to launch the UnionPay QR code payment standard. However, due to the sensitive market share involved, the standards among UnionPay, banks, Alipay, and WeChat payment have not been opened up.
In the "FinTech Development Plan (2019-2121)" issued by the Central Bank in August 2019, clearly designed the interconnection of two-dimensional payment (barcode payment): "Promote the interconnection of barcode payment, unified Barcode payment coding rules, establish a bar code payment interconnection technology system, break through the barriers of bar code payment services, and realize the mutual recognition and scanning of barcode identities of different APPs and merchants.” Since the above-mentioned plan is a three-year period, it means that barcode payments will be made by 2021 at the latest. Interconnection will be realized.
According to public data, the current active users of Alipay and WeChat have reached 1 billion. According to the official data of Cloud QuickPass in August 2020, the number of users is close to 400 million. These three payment methods account for more than 90%. They open payment channels to each other, which means that the Internet platform's control of payment tools will change.
When the Internet "demolition of the wall" is in progress
The interconnection of payment barcodes means more flexible and free payment methods, and it is also the biggest change to break the last monopoly barrier of payment.
However, since payment interoperability is still in its infancy, users may still choose WeChat Pay and Alipay for a long period of time in the future.
But in any case, as Internet institutions such as Alibaba, Tencent, Meituan, Pinduoduo, Douyin and other Internet institutions open up to mainstream payment tools, a large interconnection network has basically formed, and the walls between Internet platforms are being removed .
This article is integrated from Brokerage China, Daily Economic News, Sina Weibo , etc.
Editor: Yan Ping
Editor: Cheng Chen
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