China UnionPay (CUP) - The Gateway to China's Payment Industry

Date: August 22, 2008
Price:
US$ 200.00
Publisher: Maverick China Research
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: C65C3AA2AFFEN
Leaflet:

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China UnionPay (CUP) - The Gateway to China's Payment Industry
Our series of third-party payment company profiles begins with an in-depth look at China UnionPay (CUP), China’s only inter-bank fund transfer network and the gateway to all RMB-denominated bank payments in China. In this report, we study CUP’s expanding role in domestic and international RMB bank transfers and payments, we analyze its competitiveness with payment giant Visa International, and evaluate partnership opportunities for payment network and technology companies in China and abroad.
  • Approximately 500 million CUP branded bank cards have been issued in China, of which only 14 million are credit cards.
  • CUP bank card payments reached up to 30% of all consumer retail purchases in China's tier-one cities.
  • Through subsidiary companies, CUP also offers telephone payments, online payment, and mobile payment services.
  • CUP is open to working with outside companies that provide best-of-breed technology in building its payment network.
1 INDUSTRY OVERVIEW: KEY FACTORS SHAPING THIRD-PARTY PAYMENTS IN CHINA

1.1 Continued preference for cash payments, but bank card payments rising
1.2 Credit card use remains low; debit cards widespread
1.3 Limited coverage of non-cash payment services
1.4 China UnionPay’s bank card monopoly
1.5 Quasi-online payment systems an interim solution
1.6 Two ISPs, 162 million Internet users
1.7 Two mobile operators, 500 million subscribers
1.8 Contactless smartcard use increasing but largely limited to buses and subways
1.9 Government regulations and the “national interest”

2 CHINA UNIONPAY: THE GATEWAY TO CHINA'S PAYMENT INDUSTRY

2.1 Ownership, management team, investors
  2.1.1 Major subsidiaries
2.2 Business Performance, Revenue Model, Users
2.4 Markets and channels
2.5 Marketing and branding
2.6 Partners
2.7 Users figures and profile
2.8 Competitive analysis: strengths and weaknesses
2.9 Outlook

LIST OF FIGURES

Figure 1: Credit cards issued in China and in the US (M)
Figure 2: Internet users in China, 2001-2006
Figure 3: Mobile subscribers in China, 2002-2010F (M)
Figure 4: China government groups involved in third-party payment regulation
Figure 5: UMPay company structure
Figure 6: UMPay regional coverage and regional branches
Figure 7: UMPay’s operation model
Figure 8: UMPay m-payment services, merchant partners, and coverage areas
Figure 9: UMPay m-payment services by province
Figure 10: UMPay – the Mobile Wallet
Figure 11: UMPay bank partnerships by area
Figure 12: UMPay registered users
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