The bank card-"Mobile Wallet" (hereinafter referred to as "Mobile Wallet") business is a brand-new product jointly launched by China Mobile Communications Group Beijing Co., Ltd. and Beijing UnionPay Co., Ltd. Beijing Branch. Personal mobile financial services. It binds the customer's mobile phone number to the UnionPay logo debit card issued in the Beijing area, and provides convenient and personalized services to China Mobile mobile phone users who have the UnionPay logo debit card issued in the Beijing area anytime and anywhere through mobile phone text messages and other operations. Financial services and fast payment channels. Currently supported services include: mobile phone bill self-payment, recharge, phone bill recharge, phone bill payment, mobile lottery, mobile phone donation, phone bill balance inquiry, bank card balance inquiry, etc. Mobile wallet is a new service that China Mobile will soon launch. This service is a new service that integrates various functions of payment services. It is a business that uses bank card accounts as financial support and mobile phones as transaction tools. Bind the user's bank account to the user's GSM mobile phone number. Through mobile SMS, IVR, WAP and other methods, the user can operate the bound account to realize shopping, payment, transfer, account balance inquiry and You can get transaction result notifications and account change notifications through SMS and other methods. "Mobile wallet" integrates two high-tech products, mobile phones and credit cards, and evolves into the latest payment tool, providing users with a safe, convenient and fashionable payment method. [Edit this paragraph] Overview As the name suggests, the so-called "mobile wallet" means that the mobile phone can function as a wallet, which can be used to pay shopping bills, obtain free food and shopping coupons. Mobile phone operators and credit card companies jointly developed a "mobile wallet" that is a win-win situation for both parties. In the future, it may eventually replace cash, credit cards, ID cards, and electronic air tickets or train tickets. [Edit this paragraph] Payment function NTT DoCoMo, Japan's largest mobile phone operator, launched its first mobile wallet in 2004. This FeliCa mobile phone with a built-in FeliCa chip uses contactless IC card technology to turn the mobile phone into a mobile electronic device. wallet. Users can make small payments through FeliCa mobile phones, and even some department store membership information, ID card information, pass information, etc. can be stored in FeliCa mobile phones. At the same time, the amount of FeliCa mobile phone recharge can also be used as mobile phone bill consumption. According to foreign media reports, some giants such as Visa and Nokia are still conducting experiments in this area, but more than 50 million mobile phone users in Japan have used so-called "mobile wallets." Mobile wallets allow users to make payments by just taking out their mobile phones and "swiping" them when taking a bus, taking a taxi, watching a movie, shopping, etc. For example, if you bring a Nokia mobile wallet and take the bus to work, you just need to put the phone close to the card reader and the payment can be completed smoothly. When you go to see a movie, you tell the conductor that you want to buy a ticket. After the conductor enters the relevant information into the computer, you only need to hold your phone against the card reader and the transaction is completed. In addition, if there is corresponding identification equipment, in addition to public transportation, it can also play a role in many fields such as restaurants, supermarkets and convenience stores, ferries, administrative fees, and farmers' markets. Mobile wallets have gradually come into people's sight with the increasing popularity of mobile phone users, and their convenient payment methods are attracting the attention of mobile phone users. Compared with Japan's leading development, China began to promote the development of "mobile wallet" business in November 2005. This is a mobile phone-based personal mobile financial service jointly launched by China Mobile and China UnionPay. After bundling the user's mobile phone with the bank card account, the user can use SMS, mobile Internet access (WAP), USSD and other operations. You can enjoy personalized financial services and fast payment channels anytime and anywhere. At present, the functions that the "mobile wallet" business can implement include payment inquiry, bank card balance inquiry, bank card consumption reminder, mobile ticket booking, mobile insurance, mobile phone purchase of digital point cards, mobile newspaper subscription and other functions. [Edit this paragraph] Main consumer groups It cannot be denied that mobile wallet applications have brought great convenience to people's lives, and mobile phones around the world will support this application.

People usually carry their mobile phones with them. The payment function of mobile phones will bring a lot of convenience to users. NTT DoCoMo launched a so-called "mobile wallet service" as early as 2004, and KDDI and SoftBank subsequently launched similar services. Nokia has also launched mobile phones supporting such services in overseas markets. Consumers aged between 20 and 39 are the main user group of mobile payment services. Research shows that consumers will use mobile payment services more often after trying them once. Businesses can use the service to track users' shopping habits. McDonald's Japan and 7-Eleven convenience stores have been experimenting with providing mobile discount coupons, and FeliCa Networks, a joint venture between Sony and DoCoMo, has launched a mobile platform on which retailers can provide similar services. McDonald's Japan spokesperson Kazuyuki Hagiwara said, "Many Japanese mobile phone users have used 'mobile wallets', and we cannot ignore their potential as marketing tools." Although in countries such as Japan, mobile wallets and other functions have been relatively widely used , but apart from some sporadic experiments in China, it seems that it is still a little far away from us. With Nokia, the leading manufacturer of the Near Field Communication (NFC) forum, working closely with relevant departments such as Guangzhou, Xiamen and Beijing, mobile payment will be officially put into commercial use in China. Among them, Nokia, which supports terminals, has been sold in cities such as Guangzhou and Xiamen. Most of the mobile wallet consumers are young people and business people. [Edit this paragraph] Development prospects Mobile payment is undoubtedly one of the trends in the development of mobile phones in the future. In particular, near field communication (NFC), as one of the main technologies supporting this function, has begun to be paid attention to by more mobile phone manufacturers. Market analysis agency Juniper Research predicts that the number of "mobile wallets" will increase from the current 50 million to 700 million in 2013, providing important growth opportunities for the mobile payment industry and software and hardware manufacturers. Success in Japan and trials elsewhere suggest the technology could allow mobile phones to replace credit cards and cash as bus and movie tickets and as electronic keys to offices and homes. Despite the success of mobile payment services in Japan, only one-third of users of such phones actually use their phones to pay their shopping bills. This technology also faces some obstacles, such as breaking consumers' psychological barriers to mobile phones replacing credit cards and exploring new business models. Here, mobile phone operators hope that adding this feature will make it more difficult for users to switch to other service providers, thereby retaining more users and increasing their income. Credit card companies hope the convenience of mobile wallets will increase the number of payments made with credit cards. What Japan is one step ahead of is not just technology, but also business model. In 2013, 700 million people around the world will use "mobile wallets". Japan is leading the way in this regard. For example, Japanese mobile phone operator KDDI recently established a bank in cooperation with Mitsubishi UFJ Financial Group; through cooperation with Sumitomo Mitsui Financial Group, Japan's largest mobile phone operator NTT DoCoMo provides credit card and lending services. Japan's relevant telecommunications industries and financial institutions are still actively exploring the operation model of the "mobile wallet" business. Mobile phones have linked the finance and telecommunications industries together, and telecommunications manufacturers hope to become a link in the "mobile wallet" business chain. In the development process of the "mobile wallet" business, the domestic situation in China is very different from that in Japan. First of all, Japan has a small territory and a relatively concentrated population. Operators can promote new services very efficiently. However, in the vast and complex Chinese market, the promotion of each service must be combined with local market characteristics, and the efficiency of promotion is limited. . Secondly, in Japan, operators customize mobile phones. They can ask mobile phone manufacturers to directly embed mobile wallet functions according to their own business development needs, including software and payment chips, etc. Moreover, their mobile phones are relatively single and not as good as domestic mobile phones. Market diversification. This also determines that Japan’s mobile payment model cannot be easily copied in the domestic market.

Secondly, the development environment of Japanese operators is also more relaxed than that in China. They can participate in the financial industry and invest in the purchase of banks. This makes it easy for operators to form alliances with financial institutions such as banks and credit card institutions to facilitate the development of mobile wallets. Business, but in China, the state does not allow mixed businesses. Operators cannot get involved in the financial industry, and banks cannot get involved in the telecommunications industry. In this context, China Mobile and China UnionPay jointly invested in the establishment of Beijing Linkage Advantage to provide substantial support for the mobile wallet business. However, for the complex Chinese market, China UnionPay's influence across the country is not balanced. Strong areas can easily lead other banks to develop mobile wallet services, but in weaker areas, they still need to cooperate with strong local banks. banks to negotiate. So far, China Mobile has launched mobile wallet services in 9 cities across the country. Through service providers like Beijing UMC, operators, financial institutions, and users are connected to form a complete industrial chain. [Edit this paragraph] Security risks Potential users of mobile payment services are most worried about security issues. DoCoMo said that the remote locking system prevents others from using the payment function of the user's mobile phone; another factor affecting the growth of mobile payment business is the expansion of the system network. Nippon Telegraph and Telephone Mobile Communications Network Co., Ltd. has launched a "mobile wallet". This mobile phone is equipped with a contactless IC card "Felica" manufactured by Sony Corporation. Its users can pay with their mobile phones in stores and other places. Users download the amount to be paid to their mobile phones in advance, pay the downloaded amount with a credit card, and then shop at more than 9,000 electronic money "Edy" franchise stores including the "Takashimaya" mall Shinjuku store. When paying, after the cashier checks the price, you only need to put your mobile phone to a specific part of the cash register, and the money will be transferred to the store's account with a "beep" sound. However, this "mobile wallet" still has security issues. In the case of a lost mobile phone, only one of the four types of mobile phones can freeze the IC card in the phone by reporting the loss over the phone. Mobile phone manufacturers are continuing to look for solutions to security issues. In China, Hanyin Technology, a "new generation mobile payment" operator, recently revealed that its first batch of 100,000 "Mobile Pay" SD cards have been sold in Dixintong Nanfang Store, Metro Store, Duolun Store, Yaxin Store, and Xijiao Store , Central Store, Nanjing West Road Store and Everbright Bank Huangpu Branch are conducting discount promotion activities. Users only need to bring a mobile phone with an SD card, ID card and bank card to complete all applications at the branch. Activate the service. After being bound to a bank card account, you can conveniently purchase any product that can be consumed with a UnionPay card through your mobile phone. "Mobile Pay" also allows one smart card to be loaded with multiple bank cards, which is equivalent to binding multiple banks to one mobile phone at the same time. During the transaction, the Hanyin mobile commerce service platform is connected with the merchant's e-commerce service platform, and the entire sales process or the final payment after the sale is completed on the mobile phone. According to reports, unlike online banking, the biggest feature of mobile banking is that customer identity information is bound to mobile phone numbers. If you know your banking password online, you can log in on any computer. However, mobile banking does not work. Even if you know the password, you must operate it on your own mobile phone to see your account information. "Mobile Pay" even uses a financial payment card packaged as a MicroSD card to implement hardware encryption and solve the security problem of remote payment by mobile phone. The function of the SD card is equivalent to the USB shield of online banking. As long as the mobile phone is not lost, even if someone cracks the bank account password, fund transactions cannot be realized. This is currently the most advanced and reliable security technology in the industry. This encryption method has been recognized by the Science and Technology Department of the Central Bank, China UnionPay, the China Banking Regulatory Commission, and major banks. Of course, if your mobile phone is lost and your bank password is discovered, it is equivalent to giving your bank card and bank password to someone else at the same time