China Mobile Payment Industry Report, 2010-2011
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Chinese mobile payment industry has progressed rapidly since 2011. The penetration rate of Chinese mobile payment market was merely 18.5% in 2010, and it will hit 25.8% in 2011; while the market size and transaction value turned out to be respectively RMB2.845 billion and RMB10.42 billion in 2010, but the former will rise 97.7% to RMB5.625 billion and the latter is predicted to expand 308.6% to RMB42.16 billion in 2011.

Chinese mobile payment industry involves mobile operators, financial institutions, the third-party payment operators, and various device manufacturers, with multiple cooperation forms. The gaming between the dominant China Mobile and China UnionPay will bring along the long-term coexistence of parallel model and integration model.

In terms of parallel model, China Mobile develops payment platform based mobile payment business by virtue of the existing mobile accounts or establishing single accounts; while China UnionPay adopts bank card binding and the settlement via the cooperated payment platforms.

As for integration model, China Mobile and China UnionPay have reached an agreement to set up the joint account and payment platform and practice the profit sharing by certain proportion.

In May 2011, China UnionPay and the Top 3 operators unanimously agreed on the technical standards of mobile payment: near-field payment employs NFC standard (13.56MHz), while 2.4GHz plan is merely for closed application environment and not allowed in financial circulation sector. The 2.4GHz RF-SIM technology highlighted by China Mobile will fade from the mobile payment stage.

NFC-SD, the mobile payment standard product of China UnionPay, came into Chengdu market in April 2011. Such commercial banks as Bank of Communications and Huaxia Bank have collaborated with China UnionPay and launched NFC mobile payment business.

Considering the telecommunication operators, China Mobile has transferred its mobile payment plan to NFC (13.56MHz) from RF-SIM (2.4GHz), and its bank partner is Shanghai Pudong Development Bank (SPD Bank). China Unicom has chosen the SIMpass (13.56MHz) solution of Watchdata and its cooperative banks cover Pingan Bank, Huaxia Bank, and Industrial Bank. China Telecom also emphasizes SIMpass (13.56MHz) provided by Watchdata and has released Tianyi Great Wall Card with Bank of China.

Among the first group of 27 enterprises who have obtained the third-party payment license, there are four UnionPay series enterprises, i.e. Beijing Unionpay Merchant Services Co., Ltd., Beijing Digital Wangfujing Technology Co., Ltd., Shanghai ChinaPay E-Payment Service Co., Ltd, and Guangzhou UnionPay, while UMPay under China Mobile is not nominated. 11 enterprises are qualified for mobile payment business.

With provision for the manufacturers of mobile payment hardware devices, Fudan Microelectronics and Nationz Technologies are the major suppliers of NFC chip solutions and RF-SIM chip solutions, respectively; Hengbao and Watchdata mainly offers 13.56MHz mobile payment card; Shenzhen Netcom Electronics Co., Ltd., Hanyin Technology, Westone, etc. are the providers of NFC-SD card solutions.

Jiangsu Changjiang Electronics Technology Co., Ltd (JCET), the major manufacturer of mobile payment card packaging in China, enjoys more than 70% share in RF-SIM card packaging market, and it initiated the mass production of 13.56MHz card in 2011. Fujitsu Microelectronics mainly provides the packaging and testing services of SD card.

The POS terminals produced by Nantian Information, the manufacturer of read-write devices, are compatible with RF-SIM and NFC based mobile phones; and those of ZhengTong Electronics can support RF-SIM card and NFC-SD card at the same time.
1. Overview of Mobile Payment
1.1 Definition and Classification
1.2 Technical Standards 
1.2.1 NFC
1.2.2 SIMpass
1.2.3 RF-SIM
1.2.4 NFC Becomes Technical Standard of Mobile Payment

2 China Mobile Payment Market Size and Current Development 
2.1 Market Size  
2.2 2011-The First Year of Rapid Progress in China’s Mobile Payment Market
2.2.1 Completion of Draft on Mobile Payment Standards
2.2.2 Establishment of Mobile Payment Industry Alliance
2.2.3 Release of NFC Mobile Terminal
2.2.4 Top Concern about Mobile Payment Security

3 China Mobile Payment Business Model
3.1 Initial Stage  
3.2 Fadeout of 2.4GHz 
3.3 The Existing Business Models

4 Mobile Payment Industry Chain
4.1 Industry Chain 
4.2 Mobile Payment Business of Mobile Operators
4.2.1 China Mobile
4.2.2 China Unicom
4.2.3 China Telecom
4.3 Mobile Payment Business of UnionPay and Financial Institutions
4.4 Operators of Third-party Payment Platform 
4.5 System Service Providers of Mobile Payment Business
4.5.1 Hi Sun (00818.HK)
4.5.2 UMPay  
4.5.3 Talkweb Information System 

5 Enterprises 
5.1 Chip Manufacturers
5.1.1 Fudan Microelectronics (8201.HK)
5.1.2 Others
5.2 Card Manufacturers
5.2.1 Hengbao (002104)
5.2.2 Watchdata
5.2.3 Eastcompeace
5.2.4 Shanghai COS Software Co., Ltd
5.2.5 Wuhan Tianyu Information Industry Co., Ltd. (Tianyu) (300205)
5.2.6 Shenzhen Netcom Electronics Co., Ltd.
5.2.7 Hanyin Technology
5.2.8 Westone (002268)
5.3 Card Packaging Manufacturers
5.3.1 Jiangsu Changjiang Electronics Technology Co., Ltd (JCET)
5.3.2 Fujitsu Microelectronics
5.4 Read-write Device Manufacturers
5.4.1 Nantian Information
5.4.2 ZhengTong Electronics
5.4.3 Newland Group
Internal Structure of NFC Mobile Phones
Technical Diagram of Simpass
Comparison of Mainstream Mobile Payment Technologies
User Quantity and Penetration Rate of Chinese Mobile Payment Market, 2009-2012E
Chinese Mobile Payment Market Size 
Transaction Scale of Chinese Mobile Payment Market, 2009-2012E
Business Models in China Mobile Payment Industry before 2010
Main Reasons for the Abandonment of 2.4GHz Solution by China Mobile  
Parallel Mode of Mobile Payment Industry
Integration Model of Mobile Payment Industry
Mainstream Mobile Payment Solutions and Dominant Institutions in China
Mobile Payment Industry Chain in China
Mobile Payment Solutions of China Unicom
The First-group Enterprises with Third-party Payment License
Qualified Mobile Payment Business Operators of Third-Party Payment Platform
Revenue and Proportion from Mobile Payment Business of Hi Sun, 2009-2010
Revenue and Net Income from Mobile Payment Business of Talkweb Information System, 2010-2012E
Operating Income and Gross Margin of Hengbao by Product, 2010

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