The importance of mobile payments cannot be overstated.

Without Alipay, there would be no Ant Group with a valuation of more than US$200 billion; without WeChat Pay, Tencent’s financial technology and even industrial Internet layout would lose its soul.

In the mobile payment market, the duopoly pattern of Alipay and WeChat Pay has lasted for many years, backed by two Internet giants.

Despite this, mobile phone giants represented by Huawei and OPPO have taken advantage of terminal advantages and joined forces with China UnionPay to rapidly expand use scenarios with mobile wallets as the core, accumulating hundreds of millions of users, and have become A new force that cannot be ignored.

After all, mobile phones are the cornerstone of the mobile Internet and even the digital era. For a long time in the future, the functions and forms of mobile phones will continue to evolve, but its status as the first terminal is difficult to change.

Payment is just the starting point. The ambition of mobile phone giants is also to build a financial and life service platform based on user needs, which will truly activate mobile wallets.

The war on mobile wallets has just begun.

At the 2020 OPPO Developer Conference held on September 24, data released by OPPO showed that the number of monthly active users of its mobile operating system ColorOS has exceeded 370 million.

OPPO also announced the latest data for its mobile wallet for the first time: since the first version was launched at the end of 2018, the cumulative installed base of OPPO Wallet has reached 130 million.

In less than two years, OPPO Wallet has achieved leapfrog development and built a network that includes mobile payment, bus cards, car keys, access control cards, eID (Citizen Network Electronic ID Card), Financial and life service platform including digital credit cards.

In April 2019, OPPO wallet’s full-function NFC was launched, and the access card function was launched simultaneously. As of July this year, OPPO has connected with Qinlin, a leading domestic community service provider, to support the over-the-air activation of more than 10,000 community access cards; it is currently cooperating with Lianyu, which will cover more than 300,000 apartments under its umbrella.

In June 2019, OPPO and UnionPay officially launched the mobile payment product OPPO Pay. As of July this year, OPPO Pay's bank coverage rate exceeds 95%, covering 16 million UnionPay QuickPass POS terminals.

In terms of payment scenarios, OPPO Pay has expanded and developed offline scenarios such as bus and subway, medical and health, public payment, campus, catering, shopping malls and supermarkets. Among them, OPPO has launched 42 bus cards, covering more than 350 cities across the country. The number of online bus cards and the number of cities covered are among the best in the industry.

In October 2019, OPPO Wallet and the Third Research Institute of the Ministry of Public Security loaded the citizen network electronic identity (eID) issued by the "Ministry of Public Security Citizen Network Identification System" into the mobile phone, officially launching the mobile phone eID function. .

In November 2019, OPPO Wallet cooperated with Shanghai Pudong Development Bank to launch the first digital credit card OPPO Card in the industry, realizing full online management of the entire life cycle of the credit card.

In March 2020, OPPO Wallet joined hands with BYD DiLink to launch a mobile NFC car key; at the same time, OPPO Wallet and Changan Automobile are cooperating and will soon jointly launch a Bluetooth car key. Next, OPPO Wallet will also work with car companies to develop functions such as finding cars, starting vehicles, and remotely sharing key permissions.

It can be seen that although the OPPO wallet was not launched early, its development momentum is impressive.

The success of OPPO Wallet is largely due to Qiubei Digital behind it.

As a young digital technology company, Qiubei Digits was established in September 2018. It is committed to using technological innovation as a partner to achieve digital upgrading and transformation in finance, transportation, travel and other fields. solutions to enhance its business value and competitiveness.

In addition to OPPO, Qiubei Digital is also a strategic partner of well-known mobile phone brands such as realme and OnePlus.

The role played by Qiubei Digital can be understood as a connector between mobile terminals and industrial partners. It is committed to using technological innovation as partners to achieve digital upgrades in finance, transportation, travel and other fields. and transformation solutions to enhance its business value and competitiveness.

Up to now, Qiubei has cooperated with nearly a hundred financial institutions such as Bank of Nanjing, Guangfa Bank, Baixin Bank, Masha Finance, China Merchants Union, etc., to provide financial and commercial services to hundreds of millions of users and commercial institutions. Life services, its businesses include: Qiubei credit services, Qiubei financial services, Qiubei insurance services.

In terms of credit, Qiubei Digital uses artificial intelligence and big data risk control technology to provide users with consumer credit services. It has currently cooperated with many financial institutions such as Bank of Nanjing, China Merchants Union Financial, and Masha Finance Collaborate.

In terms of financial management, Qiubei Digital has currently cooperated with more than 10 financial institutions such as Industrial and Commercial Bank of China, Guangfa Bank, and Baixin Bank to meet the personalized financial management needs of customers, covering more than 80 million people.

In terms of insurance, Qiubei uses artificial intelligence, big data and other technologies to select insurance products with high added value, and has cooperated with large national insurance companies such as Zhongan Insurance, Taikang Online, PICC, and Ping An of China. Cooperate to launch more than 30 insurance products.

In addition, relying on the industrial background of OPPO, realme, and OnePlus, Qiubei Digits also integrates upstream and downstream resources through digital platforms to provide industrial financial products and services to help the growth of industrial ecological partners.

Given OPPO’s strong position in the mobile phone market, the growth space of OPPO Wallet is worth looking forward to, and will also bring more opportunities to Qiubei Digital.

QuestMobile data shows that as of June 2020, the domestic smart terminal market pattern has basically been finalized, and the four major domestic patterns are stable: Huawei accounts for 26.3%; OPPO follows closely, accounting for 19% ; vivo and Xiaomi are 16.6% and 9% respectively.

Compared with Huawei, OPPO users are mainly young people. They are more receptive to new things and have stronger growth potential, which means more considerable market potential.

On the other hand, OPPO currently covers diversified businesses such as mobile phones, IoT devices, software platforms and Internet services, providing users with hardware products and services in multiple scenarios including personal entertainment, home furnishing, sports and health, etc. Software services to further enrich the wallet ecosystem.

At this OPPO Developer Conference, Duan Yaohui, Vice President of OPPO and President of the Internet Division, pointed out in his keynote speech that in the era of the integration of all things, OPPO, as a technology that serves the world and integrates software, hardware and services, The company is committed to building a new ecosystem of interconnection of all things and creating a multi-terminal, cross-scenario intelligent life for users.

Based on this idea, in 2020, OPPO Wallet will open wallet services to third-party applications covering vertical scenarios such as cards, tickets, certificates, bonds, keys, etc., and work with partners to promote various physical Electronicize the credentials and build a wallet ecosystem to help users realize "traveling around the world with one mobile phone".

"WeChat and Alipay without money have been solved, and Internet companies and mobile terminals without bus cards have gradually solved the problem. The remaining fragmented scenarios such as keys, access control, and campus cards are hard to crack. Also For this reason, we hope to open up the core capabilities of the wallet and allow more developers to work with us to improve smart card services," the OPPO wallet product manager said at the meeting.

In the process of building this ecology, Qiubei Digital, as a connector, will undoubtedly play a more critical role; taking this opportunity, Qiubei Digital will fully integrate into the industry Advance digitally.

This is the sea of ??stars in Qiubei Mathematics.