Recently, Industrial and Commercial Bank of China announced that ICBC 2D barcode would continued to support WeChat payment, UnionPay 2D barcode and the main third party to pay 2D code products to carry out polymerization payment orders at 2017 China Mobile Finance Development Conference. Simply put, ICBC and WeChat 2D barcode payment can recognize and scan mutually each other!
TIt’s not new that there is the interoperability in traditional banks and third-party 2D barcode payment agencies. As early as last month, CCB and Alipay reached a strategic cooperation to make 2D code business be interconnected of the two financial institutions. There are industry experts to introduce, the technical bottlenecks has been broken through with third-party institutions and banks’ 2D code payment business interconnected to expand the bank’s 2D code payment business for development.
In order to realize the significance that large-scale traditional bank transformation has taken a very important step with interconnected 2D code business technology. At present, Alipay and WeChat payment is the most popular mobile payments on the market, both of them are occupied with 95% market share, while the other only 5% left.
In the field of 2D code payment, Alipay and WeChat payment has been a very strong trend to lead to pay, the leading dominant standard market of 2d code payment whose acceptance is much higher than the UnionPay led the standard. Banks and third party payment agencies interoperability is the choice to reduce the development of risk undoubtedly and follow the market trend this time.
As a matter of fact, both the 2D barcode of the bank payment, or third-party 2D code payment is inseparable from the terminal applications of the scanning payment as for the traditional business. As a provider of Internet application brand, Shenzhen Rakinda launches 2D barcode scanning guns, scanning platforms, embedded barcode scanner modules and other products to pay particularly, helping the traditional to accelerate creativity and innovation to promote industrial upgrading for seizing market opportunities with meeting the market demands.
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