How does Apple Pay play?
In China, the boss of mobile payments is Alipay and WeChat. The answer in the US is simple, there is only one Apple Pay. According to a survey by the Boston Retail Partner, it now has a market share of 36%, compared to less than 20% a year ago.
However, unlike Apple Pay's situation in the United States, it appears to be "unacceptable" in China Mobile's such a developed market.
On February 18th, 2016, Apple Pay was launched in the Chinese market. At first, users were very enthusiastic about it. The number of bank cards bundled in Apple Pay for 12 hours exceeded 38 million, and the number is still very large. However, this kind of heat does not last long. After a period of user experience, the purpose of pursuing seems to be more biased than practical.
This made Xiaobian think that in October last year, Apple CEO Cook bought coffee in Shenzhen and wanted to try to pay with Apple Pay. As a result, the payment system was different and it was not realized. The scene was very embarrassing.
Where is the problem with Apple Pay?
First of all, the payment habits of Chinese and American users are very different. Apple Pay is essentially tied to card payments, and China’s per capita credit card holdings are far less than those in the US and Europe. Then the habit of using cards by consumers is actually not cultivated in China. Long before Apple Pay landed in China, Alipay and WeChat have already trained users to skip the use of credit cards and get used to scanning code.
Second, Apple Pay's threshold is still too high. Apple Pay is attached to China UnionPay. Merchants not only have to pay for China UnionPay's flash POS machine, but also bear the cost of the rate.
In addition, compared to the zero-cost "sweep", NFC near field communication requires special terminal support. Take Apple Pay as an example. If you need a mobile phone with iPhone 6 or above, then the user audience will naturally shrink. According to the 2016 China Mobile Market Report, the iPhone currently accounts for 25% of the domestic smartphone market. In other words, 75% of non-iPhone users have actually been excluded.
Of course, the most important thing is the use of WeChat and Alipay, it is very very convenient. The fingerprint is unlocked, and the scan code is paid in one go. It is no wonder that the fruit stalls and pancake stall owners on the roadside have used Alipay and WeChat to pay.
Finally, in the business development work, Ali and Tencent have taken out huge subsidies, concessions, and even red envelope wars in order to promote the penetration of Alipay and WeChat in various life scenarios, basically no different from "burning money". . But Apple Pay is not a bit of a point. Because Apple attaches great importance to profit, the capital market behind it has requirements for profit, such as stock price, so it is impossible to burn money, so it is difficult to occupy the market, which is why everyone always feels that Apple Pay is not the object of cooperation. Grounded air.
In the face of the already occupied Chinese mobile payment market, how will Apple Pay stand?
In my opinion, perhaps with the gradual update of Apple's mobile phone and the increasing promotion of Apple Pay, the market may be optimistic. But unfortunately, the iPhone's market sales in China fell sharply by 23% in 2016, while China's mobile phones are just catching up. So to a certain extent, unless there are serious security breaches in Chinese competitors, Apple Pay has basically no hope in the Chinese market.
Furthermore, in fact, Alipay and WeChat are already secretly laying out the US market. Apple really wants to have a long snack, don't lose the Chinese market, the American home is also end!
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