Five-factor authentication failed: the payment card’s name, ID number, mobile phone number, verification code and bank card number. These five pieces of information were wrong, the name was entered incorrectly, or it was the ID card or card number. The input is incorrect, or the mobile phone number is inconsistent with the information reserved by the bank.

Cardless payment is generally a quick payment and requires filling in credit card information. The so-called five elements refer to: bank card account holder's name, ID number, mobile phone number, verification code and bank card number.

Card-Not-Present means that the payer makes use of the Internet, mobile Internet, wireless LAN and other channels. It does not require a physical card to be read through an acceptance device (ATM, POS, etc.). That is, an acceptable monetary claim is transferred to the payee. Alipay's "Quick Payment" and China UnionPay's "Online Payment" are both cardless payment methods.

Compared with the traditional online payment tool "card-less payment", Internet card-less payment has the diversity of payment modes, richness of payment functions, comprehensiveness of applicable card types and multi-party win-win nature of the business model. and other advantages have broad development prospects.

The characteristics of the cardless payment product itself determine that the promotion and popularization of this product will drive another change in the payment model and trigger a new round of competition in the Internet payment market. Different from the traditional online payment model, the cardless payment business breaks the barriers of inter-bank payment gateways and makes inter-bank payments with bank cards on the Internet channels unimpeded, which will have a strong impact on the existing pattern of the Internet payment industry.

At present, e-commerce is booming and the Internet has become the focus of business development strategy. Some powerful large merchants have begun to plan the construction of online virtual stores and the construction of independent online sales platforms and online malls in addition to physical stores. Data shows that although Alipay, which is currently bound to Taobao Mall, still has an absolute advantage in the field of third-party payment, the number of large merchants relying on the company's products to independently develop online payment platforms has increased significantly since last year. In addition, the People's Bank of China has issued regulations on the operating licenses of third-party payment companies. After the "No. 2 Order" is issued, the situation in which a few companies dominate the third-party market will change. It will become a trend for large merchants to independently build online sales platforms.

Judging from the current market performance, cardless payment products are quite attractive to the above merchants. Our bank can take this as an opportunity to enter this type of key merchants and achieve the dual goals of maintaining existing large offline merchants and exploring new markets in the Internet field through the mutual penetration of offline and online businesses.