In recent years, with the rapid advancement of technology and the widespread adoption of e-commerce, mobile payment systems have become more sophisticated and widely used. Whether it's in-person or online transactions, mobile payments are increasingly becoming the preferred choice for people due to their convenience and speed. As the market share and transaction volumes continue to grow, the dominance of mobile operators in non-face-to-face payments has been challenged by banks and third-party payment platforms, which have entered the competition with their own business advantages. According to iResearch data, from 2008 to 2012, the number of mobile payment users rose from 86 million to 286 million, reflecting an average annual compound growth rate of 35.04%. The transaction volume grew from 27.5 billion yuan to 151.1 billion yuan, with an average annual growth rate of 53.10%. It is expected that by 2017, the transaction scale of China’s mobile payment market will exceed 2 trillion yuan.
Mobile payments can be broadly categorized into remote and near-field payments. Remote payments are typically used for online transactions, such as mobile ringtone downloads, music purchases, and e-commerce activities. Near-field payments, on the other hand, are used for in-person transactions like buying tickets or shopping at retail stores. This latter form is particularly appealing due to its ease of use and is expected to drive future technological and market competition.
The main technologies supporting remote payments include SMS, WAP, IVR, KJava/BREW, and USSD. For near-field payments, RFID, NFC, Bluetooth, and infrared are commonly used, with NFC being the most popular and widely adopted.
Globally, the development of mobile payment varies significantly by region. Japan and South Korea lead in maturity, while the U.S. and Europe are still in earlier stages. In Japan, mobile payment penetration is extremely high, with around 98 million users in 2010. Sony’s FeliCa technology dominates the market, and NTT DoCoMo holds a strong position. In South Korea, government support and strong telecom operators have accelerated the growth of mobile payments. In contrast, the U.S. faces challenges due to differing interests among stakeholders, leading to slower progress in near-field payments, although remote payments have seen faster adoption.
China’s mobile payment market is still in its early stages, with lower usage rates and limited scenarios compared to other countries. However, the potential for growth is immense. Various players—banks, telecom operators, and payment institutions—are actively entering the market. For example, China Unicom and China Merchants Bank launched an NFC-based mobile payment solution, allowing users to store credit card information directly on their SIM cards. Meanwhile, UnionPay and China Mobile have partnered to develop a mobile wallet application, leveraging the TSM platform to enhance cross-industry collaboration.
Alipay has also introduced new features, such as transferring money to bank accounts via mobile devices. These innovations are helping to expand the scope of mobile payments and make them more accessible to consumers.
Financial IC cards have evolved significantly over time. They contain microchips that enable secure data processing and storage. There are three main types: contact, contactless, and dual-interface cards. Contactless cards, using RFID technology, have gained popularity due to their convenience. Standards like EMV and PBOC have played a crucial role in shaping the development of these cards, especially in China, where the PBOC 1.0 specification laid the foundation for secure and interoperable financial IC card applications.
Overall, the mobile payment landscape continues to evolve rapidly, driven by technological innovation, regulatory support, and changing consumer behavior. As more users adopt these services, the industry is expected to see even greater expansion and integration in the coming years.
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