UnionPay announced heavy data, POS credit card transactions continue to grow! POS hot trend is unstoppable!


On February 6, China UnionPay released the latest transaction data. In 2017, the amount of UnionPay network transfer transactions was 93.9 trillion yuan, a year-on-year increase of 28.8%. Among them, the mobile payment methods such as UnionPay mobile phone flash payment and UnionPay two-dimensional code payment have rapidly spread, which has become a powerful driving force for the upgrade of the bank card industry.

The “Cloud Flash Pay” APP helps the UnionPay mobile payment series products to advance in an all-round way. In 2017, UnionPay United Commercial Bank officially launched UnionPay QR code payment, and together with the industry parties to jointly release a unified APP "Cloud Flash Pay". The “Cloud Flash Pay” APP brings together the mobile payment functions and benefits of various organizations, and has uniquely realized the unique functions of multiple bank balance inquiry, one-third account opening and one-click account opening, and promoted the UnionPay mobile phone flash payment and UnionPay. Transactions such as QR code payment have increased rapidly. The Spring Festival of 2018 is just around the corner. The “Cloud Flash Pay” APP is a feast for the “Red Packets, Fucai” New Year Red Packets. Users can receive up to 2018 yuan red envelopes for tasks such as login, sign-in, invitation, and transfer in the APP.

Breakthroughs have been made in the construction of convenient payment scenarios, and the user experience has improved significantly. In 2017, more than 600 UnionPay mobile payment demonstration blocks were completed, small-scale secret-free visa-free, non-received transformation continued to advance, industry cooperation continued to deepen, UnionPay comprehensive payment solutions in multi-site transportation, hospitals, schools, restaurants, supermarkets, Innovative applications in the field of convenience payment such as food farms and public payment.

Credit card transactions have grown significantly, and credit consumption has gained popularity. In 2017, credit card realized POS consumption increased by 17.5% year-on-year. From the perspective of the single transaction amount range, the number of medium-sized transactions of 300 yuan to 50,000 yuan increased by more than 20% year-on-year, and the role of credit consumption to boost consumption continued to appear.

Launched and fully completed China UnionPay's new generation of cardless business transfer clearing platform. The new generation of cardless business transfer clearing platform has been completed, and has been networked with major commercial banks including 17 national key commercial banks and more than 180 regional banks, through comprehensive and in-depth benchmarking payment market and payment institution business. Demand and development trends have achieved full integration with the actual needs of the market in terms of business functions, system performance, and service support capabilities, providing a safer, higher quality, and more efficient transfer clearing service for market participants.

It is more convenient to use cards overseas. As of the end of 2017, the UnionPay acceptance network has extended to 168 countries and regions around the world, covering more than 51 million merchants and 2.57 million ATMs. At the same time, nearly 1 million POS terminals in 18 countries and regions abroad can be paid by UnionPay mobile phones. Cardholders can also download the “Cloud Flash Pay” app to pay for UnionPay QR codes in Hong Kong, Macau and Singapore. In order to better serve the outbound passengers, UnionPay has also created rich benefits, and more people enjoy the convenience, concessions and warmth of “where the Chinese go, where the UnionPay card service is.”

At present, in the countries and regions along the “Belt and Road”, nearly 60 countries and regions can use UnionPay cards, covering more than 4 million merchants and 400,000 ATMs. In some areas, UnionPay card acceptance has been realized or will soon be realized. The cumulative number of UnionPay cards issued exceeded 25 million.

UnionPay users pay more securely. In 2017, China UnionPay thoroughly implemented the deployment and requirements of the State and the People's Bank of China to prevent systemic financial risks, comprehensively implemented risk prevention and control in the payment field, actively built a financial payment security ecology, and effectively safeguarded the property safety and vital interests of ordinary people. In 2017, UnionPay has jointly linked the public security and judicial organs to investigate and deal with 32,000 cases of telecom fraud, and investigated the funds involved in the case of 424.8 billion yuan. Through transactions, goods and funds intercepted, the industry and users have recovered a total of about 109 million yuan.

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