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In order to put into action the requirements of the People’s Bank of China (“PBOC”) on promoting the application of banks’ convenient mobile payment services, Postal Savings Bank of China (hereinafter referred to as the “Bank”) joined hands with China UnionPay and rolled out publicity campaigns nationwide on November 10 to promote “Cloud Flash Pay” APP and other mobile payment products, accelerating the implementation of convenient mobile payment demonstration projects.
Pushing Forward Scenario Building and Creating a Life Circle for Mobile Payment
The Bank has pushed forward scenario building of “Cloud Flash Pay” APP jointly launched with China UnionPay to create a life circle for mobile payment. By virtue of increasingly rich functions and diversified application scenarios, “Cloud Flash Pay” APP has been more and more popular with consumers.
So far, the “Cloud Flash Pay” APP, with over 90 million users, has already rolled out three core functional modules including “Payments & Receipts”, “Discount” and “Card Management” and are gradually building “ten scenarios” for mobile payment, including shopping centers and supermarkets, bus and subway, vegetable market and surrounding 15-minute life circle, catering, utility bill payment, self-service payment, campus, canteen, medical and health care services and traffic fines payment, in a bid to further create a mobile payment ecosystem and deliver user-friendly and easily accessible payment services that benefit the people.
Vegetable markets are part of people’s daily life. The Bank and China UnionPay have built convenient scenarios covering vegetable markets and surrounding 15-minute life circle. At present, there have been over 4,000 vegetable markets and nearly 70,000 merchants in 36 provinces and cities across the country opening up UnionPay mobile payment. The number of vegetable markets for which the Bank has enabled the mobile payment has increased nearly three times from the beginning of this year. Moreover, people can also use UnionPay mobile payment products such as “Cloud Flash Pay” APP in many large vegetable market chains. Chains like Qian Da Ma, Dili Fresh, Shuanghui Chain Store and Xin Long Jia Supermarket will gradually enable UnionPay QR code payments, covering nearly 1,500 outlets in 14 provinces and cities including Guangdong, Shenzhen, Beijing, Shandong, Liaoning and Heilongjiang. These outlets are concentrated in central urban residential areas and near the large living communities, radiating out in many surrounding communities, with a total coverage of up to 8 million people.
As regards supermarket and convenience store scenario, more than 150,000 supermarkets and convenience stores have enabled “Cloud Flash Pay” APP and other UnionPay mobile payment services, including large chain supermarkets like CR Vanguard and RT-Mart, convenience stores like Family Mart and Lawson, fresh produce chain stores like Dili Fresh and Shuanghui, as well as snack chain stores like Laiyifen and Bestore.
Besides, in terms of travel scenario, the Bank has joined hands with China UnionPay to provide people with all-round and three-dimensional convenient mobile payment services. Currently, UnionPay mobile payment products cover subways in 12 cities including Hangzhou, Ningbo, Tianjin and Fuzhou and buses in 52 cities. Regarding railway, in addition to UnionPay mobile payment for on-line and off-line buying of train tickets, Guangzhou-Shenzhen Intercity High-Speed Railway has made available “UnionPay Quick Pay” service. In addition, UnionPay mobile payment has extended to taxi, aviation, shared travel and new energy.
Accelerating Innovation in Products and Providing Convenient Mobile Payment Services
In response to changes and development in payment market, the Bank has actively explored QR code application since 2013, and launched UnionPay QR code payment, QR code withdrawal as well as QR code service scenarios such as “Scanning for Surprise” and “Scanning for Preferential Price”, providing convenient and quick financial services for customers.
In order to speed up the popularization of mobile payment products, the Bank’s mobile banking supports UnionPay standardized QR code payments and has provided convenient mobile payment services for its more than 200 million registered mobile banking users. The “Xiang Hui Fu” user sharing product allows users to sign up “Cloud Flash Pay” APP via mobile banking and search special offers nearby. In addition, the Bank has made full use of resource advantages of China Post Group, provided EMS order placement, ULE special offer, free reading and other services, and promoted the building of on-line and off-line payment scenarios with postal characteristics. Additionally, the Bank keeps optimizing payment certification and has rolled out password-free micro payment and fingerprint payment, making user transactions more convenient.
With the in-depth development of convenient mobile payment demonstration projects, the demand for mobile payment transactions in urban and rural areas, especially in rural areas, is increasingly prominent. The Bank currently has nearly 40,000 outlets, more than 70% of which are located in the county areas, serving 565 million individual customers, and more than 1 billion debit and credit card accounts, which has strongly supported the implementation of convenient mobile payment demonstration projects. At the same time, postal finance employees have taken root in urban and rural areas and been deeply bound with urban and rural residents. They understand the status quo of urban and rural groups and provide manpower guarantee to deliver convenient mobile payment services to the “last mile” in remote areas.
In order to enable our customers to better experience mobile payment products such as “Cloud Flash Pay” APP, the Bank and China UnionPay have launched a number of special offers for the Bank’s customers nationwide. Before the end of December 2018, customers who spent RMB30 in a single inter-bank transaction via the Bank’s mobile banking in off-line merchants supporting UnionPay QR code can obtain incentive refund of RMB5-RMB15; a single consumption of RMB10 via a PSBC credit card in such channels as Alipay, WeChat and mobile flash pay can get one Yuexiang Coin which can be exchanged for exclusive gift.
In the next step, the Bank will continue to carry out more mobile payment special offers to further promote the development of the UnionPay standardized mobile payment service, comprehensively improve convenient mobile payment services, and provide convenient, safe and efficient quality payment services for the general public.