Visa(US:V) Zhong Guo Xin Wen Wang·2025-09-12 12:15Core Insights - The report highlights a dual trend in the global payment industry characterized by "regionalization" and "infrastructuralization" as it undergoes significant transformation [1] - It emphasizes the role of card organizations in supporting the real economy through digital transformation and ecosystem collaboration, providing future development paths and policy recommendations [1] Industry Trends - The global payment industry is experiencing a shift towards real-time payment systems and regional interconnectivity, driven by advancements in technologies such as AI, big data, cloud computing, blockchain, and biometrics [1] - New payment models like Account-to-Account (A2A) payments, Buy Now Pay Later (BNPL), and cryptocurrency wallet payments are rapidly emerging, reflecting the market's demand for efficient and diverse payment tools [2] Achievements in China - China's payment industry has developed a leading global scale, deep technological penetration, and a diverse ecosystem, with a parallel issuance model of physical and digital cards becoming mainstream [2] - Various payment methods, including card swiping, QR codes, NFC, and biometric payments, are widely adopted in high-frequency, low-value transaction scenarios such as supermarkets and transportation [2] Collaborative Efforts - Card organizations are enhancing cooperation in product innovation, scenario co-construction, and risk management, with initiatives like the upgrade of dual-standard cards from magnetic to chip cards by 2025 [3] - The report underscores the indispensable core value of card organizations in advancing payment experiences and establishing a secure, globally compatible, and open interconnected industry mechanism [3]