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Xiaorui Lecture|The evolution of payment methods, mobile payment life you are still accustomed to?

Jul 12 - 2022

Xiaorui Lecture|The evolution of payment methods, mobile payment life you are still accustomed to?

If you travel back to 30 years ago, give you a credit card, you can successfully pay?

In the 80s, our country had the first credit card, how exactly to pay? We have not been able to find the first application of the card "oldmoney", only with the materials at hand to try to recover the scenario: you carry thisbest payment gateway sufficient to show the identity of the "oldmoney".

You carry this card sufficient to show the identity of the card, walk into one of the few supermarkets to be able to swipe the card, look at the product to confirm the gaze, buy; checkout, swipe the card to checkout. The staff cast an unusual look, one is impressed with your trouser pocket card, one is the brush card brings trouble helplessness. Slowly and methodically take out the list of records with the corporate code, check your name, find your card number and then dial the phone to call the bank, ask the balance on the surface of this card, in turn to determine the amount with you, to determine whether it is really swipe the card to buy, and then the data to the bank, so that you sign to confirm that the other end of the phone and then deduct your money to complete this transaction.

How about that, patience tested? Of course you also have to prevent the embarrassment of being called out "sorry, you have no money on your card".


Information highway

In 1993, China launched the "Golden Card Project", "Golden Bridge Project", "Golden Tax Project" and several other golden word projects, kicked off the "information The curtain of the construction of "information highway" was raised.

In 1996, we had the first online bank.

And the first Internet banking business to be in 2 years later.

Half a month after Diva and Zhao Benshan sang "About 98" at the Spring Festival Gala that year, at 3:30 p.m. on March 6, 1998, China realized its first online transaction, which was a transaction that rendered the atmosphere more meaningful than the reality, and the media's passion and focus failed to promote network payments quickly, but this milestone transaction turned into a memorable day for the modern payment industry. Interestingly, the initial online transaction platform is now shown as a "cancellation" on a query system.


The launch of UnionPay

In March 2002, UnionPay was founded.

As the only domestic settlement organization and a national project, the People's Bank of China gave UnionPay the right to "make its own rules". A new baby was born and began to dominate the way the bank credit card market was cleared.

What are its functions?

It focuses on five duties: firstly, to rapid 3d prototypingunify the platform and networking; secondly, to improve the environment and promote development; thirdly, to avoid risks and maintain security; fourthly, to promote the market and benign interaction; fifthly, to unify standards and create brands.

UnionPay brings a hub for savings cards, where all kinds of settlements converge, completing secondary distribution, ensuring savings card transfers, cross-regional and cross-border applications, and then moving on to the next settlement.

Since its inception, UnionPay has achieved intra-bank networking in 300 cities, completed card transfers in 100 cities, issued UnionPay logo cards in 40 cities, and achieved nationwide inter-bank usage across different locations. At present, UnionPay has cooperated with more than 2,000 organizations at home and abroad, and the UnionPay network has spread to urban and rural areas in China and 170 countries and regions in Asia, Europe, America, the Americas and Africa.


E-commerce steps into the door of a new era

According to the survey, in 1996 China's Internet users for only 100,000, to the beginning of the century in 1999 this number became 4 million; and only after a year, the new era during the Internet users burst growth to 22.25 million.

In September 1999, a website planned a "72-hour survival" campaign, in which 12 "players" from Beijing, Shanghai and Guangzhou orderedcontainer food and purchased household goods according to take-out, pushing the online world to the eyes of the nation, and virtual currency payments came to the public eye for the first time. The first C2C website - ebay ebay was also born in this year; and this year, Ma dad is leading their eighteen Luohan discretionary "Ali".

In 2003, with the occurrence of Taobao, such as Alipay mobile payment into an emerging product.

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