Visa(US:V) Jing Ji Guan Cha Wang·2025-09-12 10:28Core Insights - The report highlights the profound transformation occurring in the global payment industry, driven by technological advancements and changing economic dynamics [1][2] - It emphasizes the dual trends of "regionalization" and "infrastructure development" within payment systems, alongside the rapid advancement of real-time payment systems and regional interoperability [1] - The report acknowledges the achievements of China's payment industry, which has developed a leading global scale, deep technological penetration, and a diverse ecosystem [2] Industry Trends - The integration of artificial intelligence, big data, cloud computing, blockchain, and biometric technologies is reshaping payment processes and user experiences [1] - New payment models such as account-to-account (A2A) payments, buy now pay later (BNPL), and cryptocurrency wallet payments are emerging, reflecting the market's demand for efficient and diverse payment tools [1] - The coexistence of physical and digital card issuance has become mainstream, with digital wallets emerging as the core payment tool due to their convenience [2] Market Characteristics - Various payment methods, including card swiping, QR codes, NFC, and biometric payments, are gaining popularity in high-frequency, low-value transaction scenarios such as supermarkets and transportation [2] - Collaboration among commercial banks, card organizations, non-bank payment institutions, and service providers is fostering a multi-faceted market development [2] - The payment clearing market is experiencing deeper openness and cooperation, with card organizations expanding their collaborative efforts in product innovation, scenario co-construction, and risk management [2] Strategic Focus - China UnionPay is focusing on global payment industry innovation trends and the new developments in digital transformation, aiming to enhance its role as a financial infrastructure provider [2]