Positive confrontation: Samsung payment layout China market and Apple pk battle curtain opened [Full text]
2024-05-31 17:05:59
Market analysis In recent years, China's mobile payment market entered a rapid growth period. According to statistics from the Analysys think tank, the size of the third-party mobile payment market in China reached 1,632.6 billion yuan in 2015, and the mobile payment scale has exceeded the PC-side payment for the first time.
The mobile payment market is becoming the main battlefield for all parties. The data shows that in 2015, the third-party mobile payment transaction scale market share, Alipay topped 72.9%, and TenPay (WeChat+Hand Q) ranked second with 17.4%. In addition, UnionPay Commerce, Lakala, Baidu Wallet, Yibao Payment, Quick Cash, Ping An Fu, Jingdong Payment, and Lianlian Payment also occupy a certain market share.
Samsung Pay Enters China's Payment Market Positive PK Apple
According to the latest annual report released by Analysys, the third-party payment mobile payment market in China had a year-on-year growth rate of 104.2% in 2015. At the same time, the scale of mobile payment exceeded that of PC-side payment for the first time. Faced with a huge market space, high-end smart phones have entered the Chinese mobile payment market. On March 21st, Samsung announced that Samsung Pay officially entered the Chinese mobile payment market, while positively releasing PK Apple’s previously released Apple Pay.
According to the industry, Apple Pay has taken the lead in the Chinese market in terms of time. However, Samsung Samsung's Samsung Pay can be used for both NFC terminal POS machines and magnetic card POS machines without NFC capabilities. The lower end application business is more than Apple's Apple Pay. The industry expects that with the layout of offline business promotion, both parties will have a hard-fought contest in the Chinese market.
Data: The Chinese market has doubled in growth
According to the latest annual report published by Analysys, China's third-party payment mobile payment market reached 1636.2 billion yuan in 2015, a year-on-year growth rate of 104.2%. At the same time, since the second quarter of 2015, the scale of mobile payments exceeded for the first time PC-side payments, and the gap gradually widened. A report released by Juniper Research, a market research firm, predicts that 148 million consumers worldwide will use contactless payment this year. Mobile wallets will be the main growth driver. About 70% of new users using contactless payment methods are Apple and Samsung pay consumers.
Facing China's huge mobile payment market, on March 21, Samsung Electronics launched a new flagship mobile phone with the mobile payment function Galaxy S7 and Galaxy S7 edge, and announced that Samsung Pay entered the Chinese market. It is reported that on December 18, 2015, Samsung Electronics and China UnionPay announced that they have reached a Samsung Pay cooperation. In the first half of 2016, Chinese users can use Samsung payment directly to pay for more than 6 million POS machines with flash payment function. In the global market, Samsung’s Samsung Pay officially launched in Korea on August 20, 2015, and officially launched in the United States on September 28, 2015. In 6 months, Samsung Pay has registered 5 million users in South Korea and the United States, and the transaction volume has exceeded 500 million U.S. dollars.
Apple, Samsung enter the game or break the existing pattern of domestic payment market
At present, the field of domestic mobile payment has formed a confrontation between Alipay and WeChat. For many netizens, the main payment method for offline payment is Alipay and WeChat payment QR code payment. The successive payment of Apple Payments and Samsung Smart Payments is expected to break the existing pattern of domestic third-party payment market.
Apple paid to land in China on February 18th and is currently supported by nearly 20 banks in China. According to data from China Merchants Bank, in the two days prior to Apple’s payment online, 3 million bank cards were bound by Apple. Relevant person in charge of Samsung recently stated in Shanghai that Samsung Zhifu has received support from seven banks in the public measurement phase in mainland China and that more banks will join in the future.
In the view of the industry, China UnionPay has launched relevant NFC products in 2012 for the near field payment technology adopted by Apple Payments and Samsung Zhifu. However, due to the stringent requirements of hardware devices for NFC payment and the long industrial chain, it is necessary to have The NFC-enabled mobile phones, POS machines, and merchants have relatively high development costs, which has led to the failure to achieve widespread adoption in the country.
Industry: Both sides will have a "hard battle"
In February of this year, Apple's Apple Pay entered the Chinese market earlier than Samsung's Samsung Pay. However, in actual use, many consumers stated that Apple's Apple Pay cannot be used in many offline malls and the experience is not good. It is understood that the latecomer Samsung Pay supports innovative MST (magnetic signal security transmission) technology, combined with NFC technology, can be used for NFC terminal POS machines, can also be used for magnetic card POS machines without NFC function, which can be in the vast majority There is a POS machine for offline business use. Market research company Forrester's data shows that in the global market, the market share of Samsung and Apple in 2015 was 24.8% and 17.5% respectively. The industry said that in the Chinese market, with more offline businesses joining the ranks of mobile payments, under the pressure of Alipay and Tenpay, the market competition between Samsung and Apple will become increasingly fierce.
How to deal with domestic manufacturers in the face of foreign payment market competition?
In the face of Apple, Samsung in the domestic mobile payment market to attack the city, domestic mobile phone manufacturers are not far behind, including Huawei, millet, domestic mobile phone manufacturers NFC payment programs are in preparation for the war. Research institutions expect NFC payment to become the flagship smartphone standard in 2016, which will encourage all parties in the industry chain to regain confidence and accelerate the improvement of the NFC environment.
Cao Lei, director of the China Electronic Commerce Research Center, believes that China’s mobile payment industry has experienced “1.0 era†of APP (application) payment represented by Alipay, and “2.0 era†of social payment represented by WeChat payment. Today, it is based on smart hardware ( Smart phones, smart wearable devices, etc.) pay for the terminal's NFC near-field payment, and mobile payment is expected to open the "3.0 era."
Conclusion:
China Merchants Securities Research Report believes that there is a trend of no card payment in the future, and the dispute over mobile payment is more important in the dispute between the scene (business) and the entry dispute (user). At present, Apple's Samsung has joined the domestic market, injecting a new force for the domestic payment market, but also for domestic mobile phone manufacturers to have greater pressure, and this will also be more able to stimulate domestic mobile phone manufacturers in the field of payment innovation, in the face of The competition of foreign manufacturers is also constantly working hard. In comparison, in terms of scenarios and portals, China UnionPay has still to be improved compared with Alipay and Tenpay.
Chen Li, an analyst at the China Electronic Commerce Research Center, said that the domestic mobile payment pattern has been formed. In the payment business chain, Alipay and TenPay have done quite well and user habits have been formed. Currently, the online market is saturated. For Alipay, Tenpay, and China UnionPay, the offline market will become the focus of competition for all parties.
The mobile payment market is becoming the main battlefield for all parties. The data shows that in 2015, the third-party mobile payment transaction scale market share, Alipay topped 72.9%, and TenPay (WeChat+Hand Q) ranked second with 17.4%. In addition, UnionPay Commerce, Lakala, Baidu Wallet, Yibao Payment, Quick Cash, Ping An Fu, Jingdong Payment, and Lianlian Payment also occupy a certain market share.
Samsung Pay Enters China's Payment Market Positive PK Apple
According to the latest annual report released by Analysys, the third-party payment mobile payment market in China had a year-on-year growth rate of 104.2% in 2015. At the same time, the scale of mobile payment exceeded that of PC-side payment for the first time. Faced with a huge market space, high-end smart phones have entered the Chinese mobile payment market. On March 21st, Samsung announced that Samsung Pay officially entered the Chinese mobile payment market, while positively releasing PK Apple’s previously released Apple Pay.
According to the industry, Apple Pay has taken the lead in the Chinese market in terms of time. However, Samsung Samsung's Samsung Pay can be used for both NFC terminal POS machines and magnetic card POS machines without NFC capabilities. The lower end application business is more than Apple's Apple Pay. The industry expects that with the layout of offline business promotion, both parties will have a hard-fought contest in the Chinese market.
Data: The Chinese market has doubled in growth
According to the latest annual report published by Analysys, China's third-party payment mobile payment market reached 1636.2 billion yuan in 2015, a year-on-year growth rate of 104.2%. At the same time, since the second quarter of 2015, the scale of mobile payments exceeded for the first time PC-side payments, and the gap gradually widened. A report released by Juniper Research, a market research firm, predicts that 148 million consumers worldwide will use contactless payment this year. Mobile wallets will be the main growth driver. About 70% of new users using contactless payment methods are Apple and Samsung pay consumers.
Facing China's huge mobile payment market, on March 21, Samsung Electronics launched a new flagship mobile phone with the mobile payment function Galaxy S7 and Galaxy S7 edge, and announced that Samsung Pay entered the Chinese market. It is reported that on December 18, 2015, Samsung Electronics and China UnionPay announced that they have reached a Samsung Pay cooperation. In the first half of 2016, Chinese users can use Samsung payment directly to pay for more than 6 million POS machines with flash payment function. In the global market, Samsung’s Samsung Pay officially launched in Korea on August 20, 2015, and officially launched in the United States on September 28, 2015. In 6 months, Samsung Pay has registered 5 million users in South Korea and the United States, and the transaction volume has exceeded 500 million U.S. dollars.
Apple, Samsung enter the game or break the existing pattern of domestic payment market
At present, the field of domestic mobile payment has formed a confrontation between Alipay and WeChat. For many netizens, the main payment method for offline payment is Alipay and WeChat payment QR code payment. The successive payment of Apple Payments and Samsung Smart Payments is expected to break the existing pattern of domestic third-party payment market.
Apple paid to land in China on February 18th and is currently supported by nearly 20 banks in China. According to data from China Merchants Bank, in the two days prior to Apple’s payment online, 3 million bank cards were bound by Apple. Relevant person in charge of Samsung recently stated in Shanghai that Samsung Zhifu has received support from seven banks in the public measurement phase in mainland China and that more banks will join in the future.
In the view of the industry, China UnionPay has launched relevant NFC products in 2012 for the near field payment technology adopted by Apple Payments and Samsung Zhifu. However, due to the stringent requirements of hardware devices for NFC payment and the long industrial chain, it is necessary to have The NFC-enabled mobile phones, POS machines, and merchants have relatively high development costs, which has led to the failure to achieve widespread adoption in the country.
Industry: Both sides will have a "hard battle"
In February of this year, Apple's Apple Pay entered the Chinese market earlier than Samsung's Samsung Pay. However, in actual use, many consumers stated that Apple's Apple Pay cannot be used in many offline malls and the experience is not good. It is understood that the latecomer Samsung Pay supports innovative MST (magnetic signal security transmission) technology, combined with NFC technology, can be used for NFC terminal POS machines, can also be used for magnetic card POS machines without NFC function, which can be in the vast majority There is a POS machine for offline business use. Market research company Forrester's data shows that in the global market, the market share of Samsung and Apple in 2015 was 24.8% and 17.5% respectively. The industry said that in the Chinese market, with more offline businesses joining the ranks of mobile payments, under the pressure of Alipay and Tenpay, the market competition between Samsung and Apple will become increasingly fierce.
How to deal with domestic manufacturers in the face of foreign payment market competition?
In the face of Apple, Samsung in the domestic mobile payment market to attack the city, domestic mobile phone manufacturers are not far behind, including Huawei, millet, domestic mobile phone manufacturers NFC payment programs are in preparation for the war. Research institutions expect NFC payment to become the flagship smartphone standard in 2016, which will encourage all parties in the industry chain to regain confidence and accelerate the improvement of the NFC environment.
Cao Lei, director of the China Electronic Commerce Research Center, believes that China’s mobile payment industry has experienced “1.0 era†of APP (application) payment represented by Alipay, and “2.0 era†of social payment represented by WeChat payment. Today, it is based on smart hardware ( Smart phones, smart wearable devices, etc.) pay for the terminal's NFC near-field payment, and mobile payment is expected to open the "3.0 era."
Conclusion:
China Merchants Securities Research Report believes that there is a trend of no card payment in the future, and the dispute over mobile payment is more important in the dispute between the scene (business) and the entry dispute (user). At present, Apple's Samsung has joined the domestic market, injecting a new force for the domestic payment market, but also for domestic mobile phone manufacturers to have greater pressure, and this will also be more able to stimulate domestic mobile phone manufacturers in the field of payment innovation, in the face of The competition of foreign manufacturers is also constantly working hard. In comparison, in terms of scenarios and portals, China UnionPay has still to be improved compared with Alipay and Tenpay.
Chen Li, an analyst at the China Electronic Commerce Research Center, said that the domestic mobile payment pattern has been formed. In the payment business chain, Alipay and TenPay have done quite well and user habits have been formed. Currently, the online market is saturated. For Alipay, Tenpay, and China UnionPay, the offline market will become the focus of competition for all parties.
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