Core Insights - The article discusses the importance of establishing mutual recognition and interoperability of QR code standards for cross-border payments, highlighting a new solution launched by China UnionPay [2][3] - China UnionPay has initiated cross-border QR code interoperability projects in 19 countries and regions, with a focus on enhancing the payment experience for residents and promoting economic exchanges [2][3] Group 1 - China UnionPay has introduced a "network interconnection" solution that operates on a dual-track model: government-to-government (G2G) and network-to-network (N2N) [2][3] - A pilot project for cross-border QR code interoperability between China and Indonesia has begun, allowing users in China to make payments at over 39 million QRIS merchants in Indonesia [2][3] - The project is expected to be fully operational by 2025, significantly improving the cross-border mobile payment experience for residents of both countries [3] Group 2 - The G2G model involves central banks of both countries creating a cooperation framework, while UnionPay acts as a liaison for business connections with foreign networks [3] - The N2N model is based on commercial cooperation and has already been implemented in markets such as Singapore, Japan, and South Korea [3] - China UnionPay is expanding its digital payment services in nearly 30 markets, including South Korea, Singapore, Malaysia, Vietnam, Pakistan, and Nepal, by launching over a hundred UnionPay standard e-wallets [3]

Core Insights - The People's Bank of China emphasizes that promoting payment interconnectivity is essential for the high-quality development of the payment industry [1][4] - The cross-border QR code unified gateway aims to resolve issues related to the previous "two-to-two" connection model, which led to inconsistent standards, redundant construction, and resource waste [4][6] Group 1: Unified Gateway Implementation - The cross-border QR code unified gateway began full-scale construction in early 2025 and officially launched on July 30, 2023, prioritizing "outsourcing for domestic use" [2][3] - As of September 11, 2023, the unified gateway processed 1.981 million transactions, amounting to 427 million yuan [2][3] - The gateway collaborates with various domestic and international institutions, including UnionPay and Alipay, covering regions such as Singapore, Malaysia, and Thailand [2][3] Group 2: Operational Efficiency and Market Impact - The unified gateway supports both "outsourcing for domestic use" and "domestic outsourcing" business types, enhancing transaction efficiency and user experience [3][5] - It standardizes the QR code payment process, improving user satisfaction by reducing transaction failures due to differing national payment standards [7] - The gateway facilitates a more inclusive and efficient payment ecosystem, allowing payment institutions to expand their market reach and attract foreign users [7]

Core Insights - The launch of the cross-border QR code unified gateway marks a significant step in China's payment industry towards building an open and interconnected ecosystem [1][2] - The unified gateway aims to facilitate cross-border QR code payment cooperation between domestic and foreign institutions through a single point of connection, addressing issues like multiple connections and resource wastage [3][8] Group 1: Unified Gateway Overview - The unified gateway supports cross-border QR code payment cooperation, reducing system connection costs and resource wastage [3] - It promotes the establishment of unified cooperation standards for foreign wallet institutions, enhancing efficiency and user experience [3] - The gateway coordinates the acceptance environment for domestic institutions, expanding the acceptance of foreign wallets in China [3] Group 2: Market Participation and Growth - As of September 11, the unified gateway processed 198.1 million transactions amounting to 427 million RMB [1] - Major payment institutions like Ant Group and WeChat Pay are integrating more foreign wallets through the unified gateway, enhancing seamless payment experiences for international travelers in China [5][6] - The cross-border payment business is expected to grow significantly, with a projected transaction scale of 162.64 billion RMB in 2024, reflecting a year-on-year increase of 30.4% [6] Group 3: Industry Collaboration and Development - The unified gateway is seen as a "translator" and "dispatcher" that facilitates interoperability between different countries' QR code payment systems [3][8] - The payment industry is moving towards a more open and collaborative ecosystem, breaking down barriers between different payment networks [7] - The establishment of a "new four-party model" is being promoted to reshape the interconnected landscape of the payment industry [7]

Core Viewpoint - The People's Bank of China emphasizes the importance of enhancing payment services for the real economy and promoting high-quality development in the payment industry through interconnectivity and technological innovation [1] Group 1: Payment Industry Development - The payment service quality for the real economy has improved significantly due to the efforts of various industry stakeholders [1] - The construction of a modern payment system has achieved new results, supported by strong financial infrastructure and ongoing high-level openness [1] - The interconnectivity of payment systems is deemed essential for the high-quality development of the payment industry [1] Group 2: Cross-Border Payment Initiatives - Following the interconnectivity of the mainland and Hong Kong rapid payment systems in June, a unified cross-border QR code gateway began trial operation at the end of July [1] - The unified gateway adheres to principles of publicness, inclusiveness, and accessibility, allowing qualified market entities to engage in cross-border QR code payment services [1] - The People's Bank of China will guide industry stakeholders to further promote cross-border payment interconnectivity, enhancing global financial networks and channels [1] Group 3: Technological Innovation and Security - The rapid iteration of global technological innovation necessitates the payment industry to accelerate technological advancements and enhance digital payment levels [1] - A balance between security and development is crucial, with a focus on maintaining safety standards while promoting innovation [1] - Industry stakeholders are encouraged to innovate within compliance frameworks, ensuring that development outcomes reinforce security foundations for high-quality growth in the payment sector [1]

Core Viewpoint - The current payment industry in China is transitioning from rapid development to high-quality development, facing structural and institutional challenges that need to be addressed, with interoperability being a necessary path to resolve issues in the payment sector [1][2][3]. Industry Challenges - The payment industry in China is characterized by high concentration, with issues such as network and standard incompatibility, insufficient industry collaboration, and a lack of sustainable development capabilities [2][3]. - The domestic QR code payment market has developed multiple standards and networks, leading to inadequate interoperability and compatibility among different networks, which hampers efficient resource utilization [2]. - The cross-border payment sector suffers from insufficient coordination, with a two-way connection model leading to issues like redundant construction and resource waste, affecting the efficiency and user experience of foreign wallet integration [2][4]. Interoperability as a Solution - Promoting interoperability in QR code payments is seen as a crucial breakthrough to address the aforementioned challenges, with a focus on creating an open and win-win industrial consensus [3][4]. - A systematic framework for promoting payment interoperability will be established, addressing key aspects such as rules, pricing, network connectivity, infrastructure interconnection, and regulatory governance [3][4]. Progress and Initiatives - Significant progress has been made in promoting interoperability, including the successful establishment of a new path for rapid payment system interoperability between mainland China and Hong Kong, which has been operational since June [4][5]. - The People's Bank of China has guided the establishment of a cross-border QR code unified gateway, which has processed 198.1 million transactions amounting to 427 million yuan as of September 11 [5][6]. Future Directions - The People's Bank of China aims to further enhance the cross-border payment interoperability mechanism, focusing on collaboration among government, infrastructure, and market entities to strengthen China's global financial connectivity [7][8]. - There is an emphasis on building a more open and efficient domestic QR code payment network, encouraging market institutions to engage in interoperability cooperation while optimizing the industry ecosystem [7][8].

陆磊表示，跨境二维码统一网关上线试运行后，可支持符合条件的市场机构接入开展跨境二维码支付业 务。未来央行将指导产业各方继续推进跨境支付互联互通，巩固和畅通中国连通全球的资金网络和渠 道，推动构建更加开放高效的支付服务。 中国社科院金融所支付清算研究中心主任杨涛：统一网关，一方面使得未来要开展跨境的二维码支付的 各类机构，各种的业务模式减少对接成本。另一方面使得业务对接进一步标准化，来提高未来给老百 姓、给相关的一些钱包持有人，提供服务的能力。 [ 责编：袁晴 ] 昨天，第十四届中国支付清算论坛在北京召开，论坛上，中国人民银行相关负责人宣布，跨境二维码统 一网关已于7月底上线试运行，未来央行将推动构建更加开放高效的境内二维码支付网络。 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 试运行月余 跨境二维码统一网关办理业务金额已达4.27亿元 陆磊指出，快速支付系统互联互通新路径成功构建，内地与香港快速支付系统已经于今年6月份实现互 联互通，业务运行比较平稳，社会反响非常好。 据介绍，跨境二维码支付互联互通取得重要进展，去年中国人民银行推动外籍来华人员支付服务便利化 工作，反映出各经济体零售支付互联互通对于提升经济活跃性具有积极作用。今年，中国人民银行继续 指导中国支付清算协会和中国银联建设了跨境二维码统一网关，于7月底上线试运行，统一网关坚持公 共性、包容性、普惠性原则，支持符合条件的市场机构接入开展跨境二维码支付业务。截至9月11日， 跨境二维码统一网关办理的业务达到198.1万笔，金额4.27亿元。 "总体来看，建设跨境二维码统一网关对于推动我国金融基础设施的国际化具有重要意义。"中国社科院 金融所支付清算研究中心主任、研究员杨涛表示，中国人民银行指导中国支付清算协会联合中国银联建 设统一网关，在国家层面形成了跨境二维码支付服务的对外统一接口。一是支持境内外机构通过"一点 对接"开展跨境二维码支付业务合作，有利 ...

本报北京9月16日电（记者吴秋余）中国人民银行副行长陆磊9月16日在第十四届中国支付清算论坛上表 示，经过产业各方不懈努力，支付服务实体经济质效进一步提升，行业治理持续深入，金融基础设施支 撑有力，高水平开放不断推进，现代支付体系建设取得新成效。目前，人民币跨境支付系统（CIPS） 业务覆盖全球189个国家和地区，2025年上半年，共处理业务笔数402.95万笔、业务金额90.19万亿元， 成为人民币国际化的重要支撑。 陆磊介绍，为推动外籍来华人员支付服务便利化工作，今年，人民银行指导支付清算协会和中国银联建 设了跨境二维码统一网关，已于7月底上线试运行，有效解决了"外包内用"多头连接等问题。统一网关 作为跨境支付基础设施，坚持公共性、包容性、普惠性原则，支持符合条件的市场机构接入开展跨境二 维码支付业务。截至9月11日，统一网关办理业务198.1万笔，金额4.27亿元。同时，中国银联、网联清 算公司积极推进与泰国、越南、印尼等多国二维码网络互联，通过双向开放二维码受理网络，推动跨境 支付合作成果更多惠及中外民众。 ...

Core Viewpoint - The People's Bank of China aims to enhance cross-border payment connectivity and develop a more open, secure, and efficient domestic QR code payment network, promoting a diverse and competitive market environment through self-regulation and market-oriented measures [1] Group 1: Payment Industry Development - The payment services have significantly improved in quality and efficiency for the real economy due to the continuous efforts of various industry stakeholders [1] - The governance of the industry has deepened, and the financial infrastructure has been strengthened, contributing to the progress of a modern payment system [1] Group 2: Cross-Border Payment Initiatives - Following the interconnection of the mainland and Hong Kong rapid payment systems in June, a unified cross-border QR code gateway began trial operations at the end of July [1] - The unified gateway adheres to principles of publicness, inclusiveness, and accessibility, supporting eligible market institutions to engage in cross-border QR code payment services [1] Group 3: Technological Innovation and Security - The payment industry is urged to accelerate technological innovation to enhance digital payment levels and maintain a leading edge [1] - There is a strong emphasis on balancing security and development, ensuring that innovation progresses within compliant frameworks to solidify the foundation for high-quality development in the payment industry [1]

Core Viewpoint - The establishment of a cross-border QR code unified gateway is significant for the internationalization of China's financial infrastructure, facilitating cross-border payment services and enhancing economic activity [2]. Group 1: Achievements and Developments - The People's Bank of China (PBOC) has successfully constructed a new path for the interconnection of rapid payment systems, with the interconnection between the mainland and Hong Kong rapid payment systems achieved in June 2023, resulting in smooth operations and positive social feedback [1]. - The cross-border QR code payment interconnection has made important progress, with the unified gateway launched for trial operation at the end of July 2023, supporting eligible market institutions to engage in cross-border QR code payment services [1][2]. - As of September 11, 2023, the cross-border QR code unified gateway processed 1.981 million transactions, amounting to 427 million yuan [1]. Group 2: Benefits of the Unified Gateway - The unified gateway allows domestic and foreign institutions to cooperate in cross-border QR code payment services through a single interface, reducing system integration costs and resource waste [2]. - It promotes the establishment of unified standards for cooperation with foreign wallet institutions, enhancing the efficiency and user experience of foreign wallet integration, while fostering fair competition in the cross-border QR code payment market [2]. - The gateway supports real-time processing of transaction information, ensuring efficient and orderly cross-border payment operations with minimal user awareness [3]. Group 3: Future Prospects - The unified gateway is expected to continue expanding the scale of participating institutions and the scope of cross-border payment interconnection, supporting more eligible institutions to engage in cross-border QR code payment services [3].