Answering 2021 is a year for UnionPay to firmly implement the 14th Five-Year Plan to "accelerate digital development and build a digital China". This year, UnionPay is emerging from the new, giving full play to the advantages of the transfer clearing institution platform, and exploring a new pattern of promoting the digital transformation of the payment industry with "connection".
Answering 2021 is a year for UnionPay to implement the relevant requirements of the People's Bank of China to "provide strong and effective financial support for accelerating the construction of a new development pattern". This year, UnionPay adhered to the original intention of "payment for the people", cohesive industrial synergy, improved quality and efficiency, helped small and micro enterprises, benefited people's livelihood, promoted consumption, stabilized growth, and continuously improved the ability of payment services to serve the real economy and financial development.
Answering 2021 is a year in which UnionPay will work with commercial banks and other industries to share growth and help promote the payment industry to achieve higher quality, more efficient, fairer, more sustainable and more secure development. This year, UnionPay created a unified payment experience on the bank side based on the cloud flash payment network payment platform to "create value through connection", and helped build a healthy and sustainable new order for the payment industry.
Connectivity creates value: Continuously improve the development capabilities of mobile payment in the banking industry
The hundred feet of the pole are thinking more and more, and the horse is whipping itself. On December 17, China UnionPay and China Minsheng Bank signed a comprehensive strategic cooperation and a strategic cooperation agreement on cloud flash payment business, which is an exploration of continuously improving the development capability of mobile payment in the banking industry and an active attempt to deepen the convenience service of mobile payment. This is not only conducive to China UnionPay to accelerate the platform transformation and upgrading, inject new impetus into the development of cloud flash payment, but also conducive to multi-dimensional empowerment of the digital transformation and intelligent construction of Minsheng Bank, more importantly, the cooperation between the two sides has opened up new development space for mobile payment in the banking industry, and is also of positive significance to promoting the high-quality development of the payment industry.
Connection cohesion: fee reduction allows profit to divert the market living water
Trees with deep roots do not break in the wind, and the waters of deep springs do not dry up. Small and micro activities, economic activities, serving the real economy, is the natural duty of finance. Since 2021, China UnionPay has conscientiously implemented the requirements of the state on fee reduction and profit reduction to help the development of the real economy, jointly implemented the bank card swipe fee preferential treatment for the bank card, and implemented the UnionPay fee reduction for small and micro enterprise cards and unit settlement card inter-bank transfer transactions, and the implementation period is 3 years. Reduce the at-bank cash withdrawal network service fee for member institutions, and launch the "Helping Businesses and Benefiting the People - Red Fire Plan" to reduce the operating costs of merchants.
Connectivity drives innovation: Unlock the digital innovation of bank cards and draw a green future for the payment industry
Climate change is about the well-being of people and the future of humanity. On August 20, 2021, China UnionPay, together with the Shanghai Environment and Energy Exchange and Commercial Bank, jointly released UnionPay's green and low-carbon theme card products to help the "30·60" double carbon target. The newly upgraded UnionPay mobile phone flash payment integrates offline NFC flash payment, two-dimensional code and APP online payment, becoming a new mobile payment product integrating personal collection code, ride code, credit card repayment, marketing and equity services, etc. The online and offline unified cashier optimizes the acceptance environment and provides users with a safe and efficient acceptance experience. In 2021, UnionPay and 32 commercial banks issued 44 unbounded digital bank card products, including Changsha Metro Xiaoxiang Card and Yun Flash Pay Boundless Credit Card, etc., with the number of cards issued exceeding 28 million, initially creating an ecosystem of "boundless +" application scenarios.
Connectivity enhancement capabilities: Cloud Flash Pay APP has upgraded its comprehensive payment service
Eyes full of vitality and transformation, the natural workers are fighting for the new day. In 2021, the 9.0 version of the Cloud FlashPay APP is newly unveiled, providing more than 430 million users with a comprehensive payment service that integrates personal credit report inquiry, health code itinerary card "two codes in one", consumer retail, entertainment, transportation, medical and health. At present, the Cloud FlashPay APP supports users to apply for more than 900 credit cards from more than 60 commercial banks through the "online card application platform", without entering the card number, and binding the bank card with "one click". The 0 handling fee transfer service covers more than 1,000 banks, and the credit card 0 handling fee repayment service covers more than 160 banks.
Connection gathers warmth: the construction of convenient scenes boosts consumer enthusiasm
Hurry up and whip to promote transformation, and the hooves are moving steadily to open a new situation. The new development pattern of double circulation leads the continuous upgrading of consumer demand, led by the "mobile payment convenience project", China UnionPay unites all parties in the industry to continuously improve the level of digital payment services and people's livelihood. At present, China UnionPay digital business district solution has landed in more than 110 commercial complexes such as Zhenghongcheng in Henan Net Red Mall, Jiande Daicheng in Ningxia, Shanghai New World Department Store, harbin Songlei Shopping Mall, etc., boosting the number of transactions and the amount of commercial complexes to increase significantly year-on-year. At the same time, through the Cloud Flash Payment APP, more than 100 million consumption coupons have been issued in more than 240 provinces and cities across the country, such as Hunan, Guangdong, Hubei, Jilin, Xinjiang, Anhui, Shaanxi, Dalian, etc., injecting new vitality into the consumption replenishment and potential release of various places. In addition, the unified mobile payment services of the banking industry such as the Cloud FlashPay APP and UnionPay Mobile FlashPay cover 40 urban subways, more than 1,700 urban and county buses, more than 860 third-class hospitals, more than 2,700 5A and 4A scenic spots, and 24 provinces and cities with one Netcom office. The construction and purchase of products (formerly "Funongtong" and the opening up of grain and other agricultural, forestry, animal husbandry and sideline fishery products to purchase funds for non-cash settlement of the last kilometer, have been successfully used in Heilongjiang, Henan and other regions, and are loved by the local people.
Connect to unleash vitality: Attend an ice and snow event
In order to do a solid job in the construction of the "two places and three districts" acceptance scene in Beijing and Zhangjiakou, China UnionPay has created a special mobile payment service area for overseas people in the cloud flash payment APP, steadily promoted the pilot project of domestic mobile payment facilitation for short-term inbound tourists from abroad, and solidly built an acceptance environment for ice and snow scenes. At present, more than 200 ice and snow venues across the country accept UnionPay mobile payment offline, and the "Digital Scenic Spots" channel of the cloud flash payment APP has supported more than 300 ice and snow venues to purchase tickets online. Various forms of consumption activities to benefit the people, such as the "Winter Ice and Snow Festival", continue to stimulate the vitality of ice and snow consumption, and add more vitality and vitality to the winter consumer market.
Connectivity maps the future: Integrated payment services help shape the blueprint of the Greater Bay Area
Spring from the Greater Bay Area, long voyage to ride the long wind. In the process of steadily moving towards the Guangdong-Hong Kong-Macao Greater Bay Area towards a world-class bay area and a world-class city cluster, China UnionPay has continuously met the cross-border payment needs of Hong Kong, Macao and Mainland residents, and reduced payment barriers in the exchange of people between the three places. At present, the Hong Kong and Macao version of "Cloud Flash Pay" has been landed for three years, and has access to almost all card issuers, driving 20 local e-wallets in Hong Kong and Macao to support UnionPay cards, with a total of more than 2 million tied cards. Jointly launched the "Greater Bay Area Youth Card" with Bank of China (Hong Kong), Bank of China Macau Branch and other institutions to help solve the problems of Hong Kong and Macao youth working, studying and living in the mainland, and relying on the Cloud FlashPay APP, it has launched convenient services including nucleic acid testing, Hong Kong health code, Macao health code and so on. Create an all-round and three-dimensional intelligent travel ecosystem integrating multiple transportation and travel fields such as bus, subway, railway, high-speed, parking, refueling, taxi, car rental, etc., to help residents of the Greater Bay Area travel smoothly.
Connect and communicate smoothly: Deeply cultivate localized business to make the "Chinese business card" pass in the world
In 2021, UnionPay will continue to promote the construction of "global network and international brand" and accelerate localization and digital transformation. Continue to expand and deepen the acceptance network, 180 countries and regions support UnionPay cards, overseas UnionPay mobile payment acceptance merchants reached 10 million, online acceptance of more than 22 million merchants, growing into one of the most extensive international card organizations. Continuously deepening business localization, 70 countries and regions have issued UnionPay cards, with overseas issuance of more than 160 million, and one for every 4 new bank cards issued in the Asia-Pacific region is a UnionPay card. Accelerate the layout of digital business. More than 100 e-wallets supporting UnionPay cards have been landed overseas, covering "cloud flash payment", mobile pay and QR code wallets, enriching cardholders' payment options.
Connecting to accumulate momentum: Bravely stand at the forefront of the development of the digital economy and show the new power of financial technology
In the face of the opportunities and challenges brought by the digital economy to the payment industry, China UnionPay is based on the field of payment, while doing a good job in its own digital transformation, further strengthens the linkage with all parties in the industry and jointly embraces the changes in the digital era. Upgrading UnionPay cloud products and building a cloud ecosystem, more than 80 UnionPay cloud products have been launched, providing safe, reliable, efficient and professional financial-grade cloud services for more than 160 financial industry institutions. Promote the construction of token 2.0 digital payment system, carry out token 2.0 financial technology pilot projects, and improve digital transfer and clearing capabilities. Continue to deepen research and innovative applications of technologies such as artificial intelligence, Internet of Things, and blockchain, complete 8 prototype designs such as Huawei's "auto payment" and explore landing applications. The construction of projects such as UnionPay's third-generation system, middle office system, and "one-window office" has advanced rapidly and steadily, improving the quality and efficiency of various payment services in an all-round way.
Connection to guard security: intelligent risk control guards the people's money bags
Payment security is no small matter, China UnionPay continues to improve its intelligent risk control capabilities, deepen the cooperation between industrial joint prevention and control, provide consumers with a full range of risk services, and effectively protect the legitimate rights and interests of consumers. In 2021, UnionPay's online fraud rate was less than 0.5 BP (1 in 10,000), which remained at a global low level. At the same time, the organization held a meeting to promote the implementation of the "capital chain" governance of gambling-related fraud in Yunnan to effectively curb the risks of gambling and fraud in Yunnan. Under the guidance of the Department of Payment and Settlement of the People's Bank of China and the Criminal Investigation Bureau of the Ministry of Public Security, fudan university and industrial institutions jointly held the "anti-fraud and refusal to gamble" publicity activity and knowledge contest in colleges and universities. Maintain the order of the acquiring market, continue to promote and urge acquirers to effectively assume the main responsibility for terminal management such as POS machines and merchant management, and effectively improve the risk management level of payment acceptance terminals and related businesses.
"Seek the benefits of the people's livelihood and solve the people's livelihood worries", more UnionPay products and UnionPay business deeply cultivate service experience and scene construction, fulfill the social responsibility of state-owned enterprises, go all out to ensure the smooth consumption of residents, and contribute to the orderly operation of the national economy and the high-quality development of the economy and society.
The sword and gall qin heart for nineteen years, hanging directly on the clouds and sails to the sea. In 2022, China UnionPay will adhere to the original intention of "payment for the people", give full play to the advantages of the "four-party model" open and win-win platform, practice the concept of "everyone is responsible for the first, everything is done quickly", work together with commercial banks, non-bank payment institutions, mobile phone manufacturers and other industrial parties, forge ahead, deepen products, optimize services, improve rules, deepen digital transformation with a more open mind, contribute the strength of the payment industry to the benefit of the people, and inject financial vitality into the development of China's real economy and help the "double cycle". Submit a satisfactory payment answer sheet for the upcoming UnionPay 20th birthday.