Smartphone mobile payment development bottlenecks

Although mobile phone banking users account for less than 10% of e-banking users (8.9%), they also show great potential. The data shows that mobile banking is the mobile remote payment method that users are most willing to use in the future, accounting for 45% of the total, and 44% will use mobile phones for third-party account balance payments. The development of mobile banking will soon reach the "start-off period" of innovation. However, the survey shows that security, convenience, and limitations of the application range are obstacles for banks in the development of mobile remote payment.

It has been growing for three consecutive years and electronic payments have become mainstream

The popularity of online shopping has helped boost electronic payments. According to the 2012 China E-banking Survey and Research Report released by China Finance Certification Center CFCA, the electronic banking business has been growing for three consecutive years. According to the survey, in 2012, 68% of users used online banking to replace more than half of the counter business, and some bank online banking substitution rates even exceeded 85%. Among them, the proportion of personal online banking users nationwide was 30.7%, which was an increase of 3 percentage points from 2011. In addition to the rapid growth of personal online banking users, users of corporate Internet banking are also growing rapidly. In 2012, the proportion of corporate online banking users was 53.2%, an increase of 9 percentage points over the same period of last year, showing an upward trend for three consecutive years.

Multi-party competition for electronic payment, mobile payment market scale of 100 billion

Electronic payment is like a magnetic magnet, attracting more and more organizations, companies and individual users. With the increase of participants, electronic payment becomes more powerful, convenient and full of opportunities. The bright prospects of electronic payments seem to be within reach, and everyone wants a share of it. As a result, the three major telecom operators came in and Alipay, Tenpay, and other third-party payment agencies were also interested in arguing for the right to speak. In addition, commercial banks and other parties have begun to exert themselves.

In the mobile payment market, as mobile payment standards are about to start, operators, etc. will join the army of online payment. Many companies represented by Alipay, Quick Cash, etc. have recently introduced various new products frequently, and they intend to share a share of this new 100 billion business opportunity.

"In the next three years, mobile phones will replace bank cards and traditional POS terminals." Zhou Hui, president of Remittance, believes that the development of payment services for mobility and portability has become a major application for both individual consumers and small and medium-sized merchants. One of the demand trends. Statistics show that the size of China's mobile payment market is expected to reach 23.5 billion yuan by 2013, with an annual growth rate of more than 100%. As China's mobile phone users increase year by year, the number of mobile payment users has also increased. China's mobile payment service volume will be considerable. According to the research of the Ministry of Industry and Information Technology and China Mobile, the total size of China's mobile payment industry chain will exceed RMB 150 billion by 2013 and will maintain an annual growth rate of around 40% in the next few years.

In the third-party payment market, third-party payment currently has an absolute advantage in e-commerce, while banks do not have an advantage. Chen Shujun, general manager of the e-Commerce Department of CITIC Bank's Internet Banking Department, said: "At present, e-commerce is an endless stream, and enclosures are in jail. Like Taobao and pat, it occupies almost 70% of China's e-commerce market share, and both of them have designated themselves. The payment companies provide settlement, which makes the bank have to cooperate with a number of third parties."

In order to improve the user experience, the third-party payment agencies have been vigorously promoting the quick payment function this year and have begun to compete for online banking users. Cao Xiaoqing, deputy general manager of CFCA, said that the proportion of active users using online banking services has dropped by 7% year-on-year. The reason is the quick payment function introduced by Taobao and other shopping websites. "However, the rapid payment security measures have been significantly reduced and user safety needs to be vigilant."

Smartphone mobile payment development bottlenecks

Some reports pointed out that security, convenience, and limitations of application scope are obstacles for banks to develop mobile remote payment. It is difficult to be compatible with multiple bank cards, the application is not widely used, and there is no e-commerce platform similar to Alipay, which is an important reason for the low usage rate of mobile banking. The following briefly analyzes the bottlenecks encountered by mobile payments.

Mobile payment has undoubtedly become a major mainstream feature of smartphones in 2012. In 2012, electronic purses, Square readers and near-field communication technologies became the highlights of smartphones in mobile payments.

In 2012, mobile payments have grown to the level of installation and use of mobile payment devices in physical stores. As a result, a large number of mobile payment companies have emerged as the main business and have thus become famous. However, because consumers nowadays are accustomed to using bank cards for consumer transactions, mobile payments cannot be accepted by consumers in a short time.

Mobile security is worrying

According to statistics, as of October 2012, the global mobile malware infection rate was about 1%. According to the current year, global smartphones (including Android smart phones) accounted for 1 billion users, which means that 10 million mobile phones were Malware attack. According to data released by Kaspersky Lab, only in the third quarter of 2012, there were 9000 new Android mobile phone malware worldwide. Another industry insider expects that by the end of 2013, there will be 18 million Android mobile phones infected with malware worldwide.

The patent dispute is in full swing

Nothing about the inventory of smart phones in 2012 will save the patent dispute. In the past year, there have been numerous lawsuits involving claims made by smart phone manufacturers, applications for bans, and so forth. Apple Inc. is undoubtedly the protagonist of almost all the patent disputes this year. Its dispute with South Korea's Samsung ignited the fuse of the global patent war. Eventually Apple won victory and reaped one billion US dollars in compensation. In addition, HTC, Motorola Mobile, RIM, Nokia and other mobile phone giants have also fallen into the "scissors" of the patent dispute. Looking ahead to the outlook for the global mobile phone market in 2013, it has become inevitable that the dispute over patent rights in the industry will continue to exist.