Scan code payment will bid farewell to streaking: business specifications at the end of August introduced daily limit

Open Alipay or WeChat, and send the generated QR code to the merchant to pay the payment successfully. This changes the payment method of the Chinese people's payment habits, and will soon end more than two years of "streaking", officially ushered in supervision.

According to the CCTV Financial Channel "First Time" report, a few days ago, the People's Bank of China instructed the China Payment and Clearing Association to complete the formulation of the QR code payment business specification, and is seeking comments from member institutions, and is expected to be officially released before the end of August.

Although it was temporarily suspended in March 2014, the third-party payment institution represented by Alipay and others, after improving the payment of the two-dimensional code, actively cultivated the usage habits of consumers and actively expanded the application scenarios. . Under the circumstance of the supervision department's default, Alipay and WeChat have captured most of the mobile payment market through subsidies and other grounded activities.

"In fact, the lack of payment for QR code is only an identity. The introduction of this standard is still for further standardization. There are chapters to follow. For the mobile payment market, the change is not big, and it is bypassed in the scan code payment. UnionPay and the marginalized banks did not rely on Apple Pay at the beginning of the year to play a beautiful turnaround." A large third-party payment agency told the news.

Two-year code payment was suspended more than two years ago. In addition to security factors, the interests of protecting banks and UnionPay were also regarded as one of the reasons. In the face of QR code payment, it will be officially recognized. This time, China UnionPay generously stated that it is planning to enrich the interactive method of QR code into the “Cloud Flash Pay” product series represented by Apple Pay. A supplement to the payment.

The era of scan code payment payment limit is coming soon

Compared with two years ago, the upcoming regulations on QR code payment have adopted limit management for QR code payment, and from the specific classification and quota, it is the same as the new network payment that began to be implemented on July 1 this year. Consistent.

Among them, if the payment institution uses two types of (including) valid elements including digital certificates or electronic signatures to verify the transactions, the one-day cumulative limit is agreed by the payment institution and the customer through agreement.

However, at present, electronic signatures are not popular in China, and digital certificates are more installed on computers than mobile phones. Therefore, it is not easy to use unlimited payment for two-day codes.

If it is a scan code payment realized by combination of two methods, such as password and mobile phone SMS verification code, the daily quota is 5,000 yuan.

If the payment institution only uses one of the password, fingerprint or mobile phone text messages for security verification, or simply free of verification, the limit for single-day scan code payment is 1,000 yuan.

Compared to swiping, why do the scan code payment take a limit?

“Traditional bank card payment, the special hardware device is used for card swiping. When trading, the data transmission is also transmitted through a closed private network. Bar code payment, including QR code payment, is open in the form of software. The Internet handles transactions, so the security is definitely lower than the traditional bank card transaction. In the forthcoming specifications, the most important thing is to ensure the security in the payment process." Deputy Secretary General of China Payment and Clearing Association Guoguang said in an interview with CCTV.

"Two-dimensional code payment adopts quota management, which is also a continuation of the relevant regulations of the new network payment regulations. In the view of the central bank, the most important application scenario of scan code payment is the need for payment speed in micropayment, positioning is bank card transaction. Supplement." The third party payment agency said.

In addition, the China Payment and Clearing Association will also establish a testing and certification system for the bar code payment service system, scanning code acceptance equipment, and client software of various payment companies. That is to say, in the future, only devices and systems that have passed the monitoring and certification are safe. In order to be put into the market.

From being stopped, to being a secret to restarting publicity

People who are used to the “Alipay” “sweep” to complete the payment may have forgotten that the QR code payment was temporarily suspended in March 2014.

In March 2014, the Central Bank Payment and Settlement Division issued a letter to Alipay and Tenpay to suspend their offline barcode (two-dimensional code) payment and other business opinions. At that time, the red two-dimensional code payment (ie, the merchant acquiring machine) The QR code is displayed on the display, and the customer uses the mobile phone to scan the code to pay) dumb fire.

Almost at the same time, the central bank also suspended the plan to jointly issue “virtual credit cards” by Alipay, Tenpay and CITIC Bank, plus the “Administrative Measures for Payment Organizations' Online Payment Services (Draft for Comment)” in the drafting process. Exposure, the market once heard the voice of the regulatory authorities on the tightening of Internet financial regulation represented by online payment.

“Two-dimensional code payment was too strong in 2014, and it did have some security risks. At that time, UnionPay and the bank were not prepared, and the impact was relatively large. All central banks chose to temporarily stop.” Industry insiders from third-party payment institutions say.

However, Alipay and Tenpay are not sitting still.

In August 2014, WeChat first launched the QR code "transfer to friends" and "face-to-face money collection" function, and actually launched WeChat's QR code payment.

Almost at the same time, Alipay also restarted the scene of QR code payment, selected convenience stores in big cities, etc., and the promotion weapon is the “payment” function placed in the “Alipay Wallet” APP.

Whether it is WeChat or Alipay, the re-appearing “scan code payment” has been different from before: in the case of Alipay, the user used to scan the QR code of the merchant. The current practice is to let the merchants sweep the consumer Alipay wallet. In the case of such a relatively closed loop, the risk is also partially grafted from the consumer to the merchant. Based on this, this new two-scan code payment has received regulatory acquiescence.

In the two-dimensional code payment method that was previously stopped, there are consumers to scan the QR code provided by the merchant, and if the bad merchant sets up a Trojan horse, the risk naturally falls on the consumer's head.

After the QR code payment restarted became an open secret, on December 12, 2014, Alipay taught a group of smartphones that were not used by a "50% off with Alipay wallet payment" campaign. The uncles used are paid by mobile phone. Subsequently, in the Spring Festival of 2014, the use of "red envelopes" fired a WeChat is not to be outdone, almost the same way as the law, to enter the offline payment market.

Are UnionPay and banks ready?

The upcoming two-dimensional payment rules have added a fire to the mobile payment market, which has not lacked drama.

After all, in the current mobile payment market, scan code payment has taken away most of the cake in the market. In this payment method, the third-party payment party connects to the merchant, and the other side is directly connected to the bank. The UnionPay as the card organization has already been eliminated; the bank as a participant has no great advantage, and the traditional payment service can act as the acquirer and the issuer. Banks have become the role of providing payment channels in scan code payments.

Faced with the imminent landing of the QR code payment rules, after a series of NFC mobile payment products such as Apple Payment, China UnionPay welcomed the two-dimensional code payment for the first time in nearly two and a half years.
China UnionPay said that it is actively promoting related work and intends to enrich the interactive method of QR code into the “Cloud Flash Pay” product line as a supplement to non-receipt payments.

In fact, China UnionPay is also one of the first organizations to carry out research and product design of QR code payment interaction.

In China UnionPay's view, China's payment market, especially for small and micro-businesses that are more sensitive to cost, has certain demand for QR code payment. Banks and acquirers have also expressed that non-receiving payments are the mainstream, while Support the appeal of QR code payment.

Commercial banks who have become payment interfaces in scan code payment are naturally not idle.

In July of this year, ICBC first launched its own QR code payment product in Beijing. Like Alipay, it can use mobile phone to scan code payment or POS machine to scan mobile phone QR code. Different from Alipay and Tenpay, like Apple Pay, ICBC's QR code payment products are embedded in Token technology to protect customers' funds and information security through the variation of card numbers.

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