Nowadays, the demise of cash is almost a matter of no suspense. Looking at any book that depicts the future, the evolution of payment media will make the world's wealth more and more out of physical form, and become a variable in the database: sci-fi The writers believe that in the future, high-end information civilization will regard banknotes as antiquities, and the singularity of mind is like looking back at the shells and cloth coins hidden in the museum.
It can't even be as far as the "future". As you know, the payment method in the mobile era is becoming more and more interesting, and the near-field payment technology that has been widely deployed is the best tool for the death of cash. However, it must be admitted that the behind-the-scenes push is somewhat unfamiliar. The reason is that the public generally pays attention to technological innovations that can be materialized and perceived, neglecting the underlying innovations hidden behind the appearance; and then as a social species, the media The nature of the game is sometimes chasing "story" rather than "facts", so the excellent case of payment is rarely known. For example, Visa, a global payment technology company, is actually one of the founders of mobile payments. As early as 2004, they launched contactless payment technology. With the growing maturity of contactless payment technology, Visa named its contactless payment Visa payWave in 2007. In 2014, Visa pioneered the Token Service and became one of the underlying technology providers to secure the various mobile payment methods such as Apple Pay.
To some extent, mobile payment "veteran" Visa directly promoted the demise of cash. I saw a data before, 70% of contactless payments in the global transactions have occurred through the Visa platform - if the future "banknotes" really happily lie in the human descendants of the museum, then Visa must Great contribution.
Come and see this technology from Visa today.
The new economy begins with technology and finally trusts
As a payment method, Visa payWave is based on EMV chip technology and can be used for credit cards, debit cards, prepaid cards and smart devices including mobile phones. For example, when it is used for a credit card, there is no need to swipe or insert the card. For example, if the bus card is swiped, the payment can be completed by swiping in front of the POS machine. Most of the time, the micro transaction does not need to be signed and input PIN code, only a few seconds, one step to complete Save money on payment time - Watsons has done statistics. By accepting Visa payWave payment, the queue time of customers in chain stores has been reduced by 77%. According to Deloitte's research in fast service restaurants, Visa payWave is 3.5 times faster than cash payment. Times.
Of course, especially in the early days of Visa payWave technology, mobile payment was still a very cutting-edge concept, and the intuitive payment method was worrying about its security (such as the visual impression of the information leaking in the air). Worry......) - In fact, even today, this sensitivity and vigilance against new technologies still exist, no way, instinctive, from the early warning to the complete trust of unknown technology almost through the entire process of human and machine co-evolution - - Payment will be the same.
Although it seems to me that human trust in technology is hardly a "rational victory", more is the habit of winning itself, but understanding the technical security features still affects people to make the final decision, just take Visa payWave The security features include: only when the card or mobile phone is close to the POS (usually within 4 cm, while staying for 0.5 seconds) can receive the signal; the credit card will not transmit the name, address, CVV2, etc. during the transaction. Sensitive information; chips using EMV international standards, adding dynamic data authentication and authentication mechanisms to generate a unique secure ciphertext code for each Visa payWave transaction, the security level is exactly the same as the chip card; cardholders enjoy Other general credit card holders have the same credit card loss and misappropriation guarantee; the Visa payWave card is always in their hands during the entire transaction, avoiding the use of “fake POS machines†to steal data; each transaction is authorized by the issuing bank. The global electronic payment network VisaNet system also helps prevent fraudulent transactions.
In addition, the current mobile payment is also escorted by the Visa Token Service. The so-called token is to use a digital account (or token) to replace sensitive payment information on the bank card. Since "tokens" do not carry detailed consumer payment account information such as bank accounts, they can be securely stored on online merchants or mobile devices for online and mobile payments.
In fact, according to the theory of innovation economics, every society revolution requires time to adapt and accept, and once it crosses a certain critical point, people become accustomed to it (you know, successful invention will eventually come from people's consciousness. Disappearing), the resources of the whole society will also be inclined to the new technology field. Constantly trusting technology and harvesting benefits from it is the general direction of human evolution.
Furthermore, “the new economy begins with technology and finally trusts†– this is a classic judgment of Kevin Kelly on the new economic era. The whole society tends to become a network endorsed through modular collaboration and trust. Business, O2O, to the relationship between humans and artificial intelligence - such as getting along with unmanned cars, the higher the level of trust, the faster the business operations. Mobile payments will also be like this.
Buy "buy and buy" faster
As mentioned earlier, as a underlying payment system change, Visa payWave can be grafted with different smart carriers, such as smart bracelets, smart watches, USB flash drives, clothing, even rings, and of course smartphones that have been widely used – but History tells us that any "infrastructure level" technology exchange is not a one-off process. At present, it seems that on a global scale, card payment and mobile payment will remain coexist for a long time.
Specific to Visa, it is well known that it has a leading edge and consumer reputation in cross-border transactions. Now banks such as CCB, China Merchants Bank, Bank of China and China Everbright have cooperated with them to issue Visa payWave credit cards, so that consumers can use the contactless payment they have long been used to in China when they buy and buy overseas.
Travel time outside is always very valuable, but you know that the global penetration rate of mobile phones is not high (Apple Pay is only registered in 9 countries after two years of online), while Alipay and WeChat are outside the country. The expansion of the map is not a cold day, so a Visa payWave credit card may be even more trouble-free. Not to mention the experience, WeChat and Alipay need 3-5 steps to scan the code, and rely heavily on the network, compared to "squatting" to leave, leaving the traveler is a completely different experience.
In fact, with Visa, the world's largest payment network, Visa cards with Visa payWave capabilities are becoming more common in merchants around the world. According to data support I received from Visa officially, as of December 2015, 66 countries and regions around the world supported Visa, a contactless transaction, with a total of 235 million cards with Visa payWave, and the number It is still rising and many places are already very popular.
For example, in Hong Kong, one of the 10 Visa cardholders often uses the Visa payWave feature, which is spread across 17 merchant categories, including supermarkets, restaurants, convenience stores, and coffee shops. In Singapore, every five Visa-based transactions are paid. One is done through Visa payWave; Australia is a more interesting example, and it must be acknowledged that Apple Pay has greatly advanced the development of global mobile payments, but in chronological order, like Visa Northeast Asia innovative payment business Vice President Zheng Daoyong said, “When Apple Payments has not been officially launched in Australia, more than 51% of Visa card transactions in Australia have occurred through payWave, so it should be said that Apple Payment first saw Visa have such a contactless payment solution. And with such a large network of merchants, Apple does not have to make repeated investments in payment technology, just embed Visa's solution into the Apple terminal to integrate resources."
Although we are still unable to enjoy the fast payment experience of Visa payWave in China due to policy reasons, the popularity of this infrastructure abroad is undoubtedly a positive for Chinese consumers. Everyone knows that with the rise of the largest middle class in human history, the profound skill of Chinese consumers to “buy and buy†is becoming a force to change the world, and outbound travel is becoming a casual routine. A recent McKinsey report shows that in 2015, China’s outbound tourism exceeded 70 million people, with an average of 1.5 per person. In terms of consumption composition, travel-related expenses accounted for half, and the other half was used for shopping. 80% of consumers were Overseas shopping, nearly 30% of people even decide on destinations based on shopping opportunities.
In fact, a study by Visa himself shows that the growing middle class, the more developed Internet, and the better transportation infrastructure will profoundly affect global travel in the next decade – the next decade, globally. The number of Chinese tourists will more than double, and the spending of Chinese tourists will reach an alarming record of $255.4 billion per year by 2025.
Of course, in addition to buying and buying more quickly, I believe that the next decade of technology will dwarf the past decade, and the full replacement of banknotes by mobile payments is an important moment for a better future.
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