What are the three major payment systems in China?

China's three major payment systems: 1. Alipay, a domestic third-party payment platform, is committed to providing "simple, safe, fast and convenient" payment solutions for enterprises and individuals; 2. WeChat Pay, It is a third-party payment platform under Tencent Group and is committed to providing users and enterprises with safe, convenient and professional online payment services; 3. UnionPay Online Payment is an online bank card transaction created by China UnionPay to meet the online payment needs of all parties. Transfer clearing platform.

The operating environment of this tutorial: Windows 7 system, Dell G3 computer.

China’s three major payment systems

1. Alipay

Alipay (China) Network Technology Co., Ltd., established in 2004, is a domestic third-party payment platform dedicated to providing "simple, safe, fast and convenient" payment solutions for businesses and individuals. Alipay is an influential brand in China's Internet industry, China's mainstream third-party online payment platform, the most trusted Internet payment platform by users, and an excellent payment solution provider in China.

Since its establishment in 2004, Alipay has always regarded "trust" as the core of its products and services. It has two independent brands, "Alipay" and "Alipay Wallet". Since the second quarter of 2014, it has become the world's largest mobile payment manufacturer.

Alipay has established strategic partnerships with more than 180 banks at home and abroad, as well as international organizations such as VISA and MasterCard, becoming the most trusted partner of financial institutions in the field of electronic payment.

2. WeChat Pay

WeChat Pay is a third-party payment platform under Tencent Group and is committed to providing users and enterprises with safe, convenient and professional online payment services. . With the core concept of "WeChat payment, more than just payment", it has created a variety of convenient services and application scenarios for individual users.

WeChat Pay is a payment function integrated in the WeChat client. Users can complete the quick payment process through their mobile phones. WeChat Pay is based on fast payment bound to bank cards, providing users with safe, fast and efficient payment services. Users only need to link a bank card in WeChat and complete identity authentication, and their smartphone with the WeChat app can be turned into a universal wallet, and then they can purchase goods and services from cooperative merchants. When paying, users only need Enter the password on your smartphone and complete the payment without any card swiping steps. The whole process is simple and smooth.

WeChat Pay provides professional collection capabilities, operational capabilities, fund settlement solutions, and security guarantees for various enterprises and small and micro merchants. Users can use WeChat Pay to shop, eat, travel, seek medical treatment, pay utility bills, etc. Enterprises, products, stores, and users have been connected through WeChat, making smart life a reality.

With the popularization of smartphones, the frequency of use of mobile payments has gradually exceeded that of cash. Because of this, my country’s mobile payment penetration rate has become the highest in the world, and Alipay and WeChat have also begun to use mobile payments. played a vital role.

Mobile payment emerged in 2004. Jack Ma was troubled by the inability to pay on his own shopping platform. Then Alibaba launched Alipay for the first time for mobile payment. With the popularity of online shopping, Alipay has also begun to develop and grow. It not only has payment functions, but also supports functions such as borrowing money, paying utility bills, and Zhima Credit. In 2014, Alipay officially became the world's largest mobile payment manufacturer. Since then, Alipay has established its position as the leader in the payment industry.

With the development of mobile payment, WeChat, the social platform with the most users in China, has also been involved in the payment industry. Although Tencent started late in the payment industry, it has relied on its user advantages to expand its presence in the payment industry in just 6 years. It already has 100,000 users.

3. UnionPay Online Payment

"UnionPay Online Payment" is a bank card online transaction transfer created by China UnionPay to meet the online payment needs of all parties. The clearing platform is also China's first integrated and comprehensive online payment platform with financial-grade pre-authorized guaranteed transaction functions and full support for all types of UnionPay cards.

UnionPay Online Payment is a bank card online transaction transfer and clearing platform jointly created by China UnionPay and commercial banks.

Covers a variety of payment methods such as certified payment, fast payment, small payment, stored value card payment, online banking payment, etc., and can provide users with domestic and overseas online shopping, water and electricity payment, business travel booking, transfer repayment, fund Subscriptions, charitable donations, and corporate collection and payment services provide "safe, fast, multiple choices, and globalization" payment services.

Business features:

1) Convenient and fast. Simple and flexible payment without cumbersome procedures speeds up the transaction process and improves user experience. It helps banks and merchants attract more customers and promotes online transactions. It is universally applicable to all UnionPay cards.

2) Safe and reliable. Multiple security prevention and control technical guarantees, real-time risk monitoring, complete risk disposal and resolution mechanisms, and front-end, middle-end and back-end linkage fully ensure transaction security.

3) Globally applicable. UnionPay's cross-border online payment services have covered major countries and regions around the world. UnionPay cards issued by major domestic banks can be used without currency conversion fees. Cardholders can "click the mouse and shop online around the world" without leaving home.

4) Financial-grade pre-authorized guaranteed transactions. UnionPay Online Payment is the first online payment platform in China to support financial-level pre-authorized guaranteed transactions. Compared with other guaranteed payment methods, UnionPay Online Payment provides pre-authorized guaranteed transactions in full compliance with financial norms and standards. Before the transaction is finally confirmed, the transaction funds Freezing in your own account eliminates the need to transfer to a third party in advance, eliminating interest loss and misappropriation risks, solving cardholders' concerns about the security of payment funds, and maximizing the interests of banks, merchants and cardholders. UnionPay's Internet merchants have passed strict network access review and real-name authentication. In terms of merchant rules and business management, UnionPay/acquirers require merchants to provide trustworthy guarantees to ensure that merchants themselves have good dispute handling capabilities.

5) Comprehensive merchant services. Based on China UnionPay’s powerful fund clearing system and comprehensive service capabilities, it can not only provide merchants with offline and online integrated fund clearing services and convenient transaction management services, improve fund management efficiency, but also bring huge customer resources and Unlimited business opportunities.

6) No threshold online payment. "UnionPay Online Payment" allows customers without online banking to enjoy online payment services through a special cardless payment channel, which helps banks reduce resource investment in online banking systems and attract more customers to conduct online transactions.

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