Core Viewpoint - The payment industry in China is undergoing significant innovation, transitioning from traditional methods to advanced technologies like NFC and biometric payments, enhancing consumer experience and driving consumption growth [1][4][10]. Payment Innovation - Alipay has introduced new payment methods such as "Tap to Pay" and "Look to Pay," which simplify the payment process and cater to various user groups, including the elderly and visually impaired [3][5][12]. - The "Tap to Pay" feature allows users to complete transactions without opening the app, significantly reducing the time taken for payment [5][12]. - The "Look to Pay" function, integrated into smart glasses, enables users to make payments through voice commands, enhancing convenience in hands-busy situations [3][13]. Market Impact - The rapid development of mobile payment in China has led to a 25-fold increase in bank mobile payment transactions over the past decade, with non-bank payment institutions processing 1.34 trillion transactions, reflecting a 570% growth since 2015 [5][10]. - Alipay's innovations are seen as crucial for stimulating consumer demand and enhancing the overall payment experience, contributing to high-quality service consumption growth [5][12]. Technological Advancements - The evolution of payment methods is supported by advancements in communication technology, artificial intelligence, and the Internet of Things (IoT), which facilitate seamless payment experiences [6][8]. - The introduction of a new chip developed by Fudan Microelectronics in collaboration with Alipay aims to enhance the speed and reliability of the "Tap to Pay" feature [8][11]. Consumer Experience - Alipay's innovations aim to lower the barriers to payment for various demographics, ensuring that payment processes are not only efficient but also secure, addressing privacy concerns [10][15]. - The average operation time for visually impaired users has decreased from 30 seconds to 5 seconds with the "Tap to Pay" feature, showcasing the impact of these innovations on user experience [5][10]. Industry Collaboration - The payment industry is encouraged to collaborate and share technology standards to enhance service levels across the board, benefiting both consumers and businesses [11][12]. - Alipay is focused on exploring new digital technologies and payment methods to further reduce payment barriers and create new consumption growth opportunities [11][12].

Core Insights - The mobile payment industry has not seen significant innovations since the introduction of QR code payments by Alipay in 2010 and the "red envelope war" in 2015, leading to a stable but less exciting market dominated by Alipay and WeChat [1] - Alipay is proactively seeking change by investing in future technologies like "Tap" and "Look" payment methods, indicating a strategic shift to avoid being outpaced by competitors [1][9] Alipay's New Payment Methods - Alipay launched the "Look" payment feature in collaboration with smart glasses brand Rokid, allowing users to make payments through voice commands while wearing the glasses [2] - The "Look" payment method offers unique advantages in hands-busy scenarios and provides convenience for special groups like disabled individuals, reflecting Alipay's ambition to simplify payment processes [4] Strategic Partnerships and Costs - Alipay plans to expand its collaboration with Rokid to enhance various daily services, although the current "Look" feature only supports Alipay's QR codes, requiring further partnerships with third-party service providers [5] - The company acknowledges that early investments in new payment methods will incur significant infrastructure costs, as seen with the previous "Tap" feature, which achieved over 100 million users in just 321 days [7] Competitive Landscape - Alipay's aggressive investment strategy contrasts with WeChat Pay, which has been slower in promoting its palm payment feature [8] - The shift from traditional QR code payments to new methods like "Tap" and "Look" aims to bypass WeChat's advantages, particularly the necessity of opening an app for transactions [9][10] Hardware as a Barrier - The focus on hardware, such as smart glasses, is becoming a critical barrier in the next generation of payment systems, with Alipay forming exclusive partnerships to enhance user experience [11] - If smart glasses manufacturers adopt similar strategies as Rokid, the payment landscape could shift dramatically, making hardware partnerships essential for payment service providers [12] Market Potential - Alipay is optimistic about the smart terminal market, having started adapting to smartwatches in 2015, with smart glasses seen as a promising hardware segment [14] - IDC forecasts that global smart glasses shipments will reach 14.5 million units by 2025, with a significant increase in audio and video recording glasses [14] Future Collaborations - Alipay is exploring additional collaborations with other smart glasses manufacturers to further develop the "Look" payment feature, which could lead to a dominant position in the smart glasses payment market [16] - The integration of smart glasses with payment systems may provide a seamless interaction experience, positioning Alipay as a superior entry point for users [17][18]

（图片来源：支付宝） 全球首个AI眼镜支付技术落地。 6月18日消息，Rokid和支付宝双方在17日宣布实现全球首个可支付的智能眼镜，Rokid Glasses内置的支 付宝"看一下支付"功能将上线。用户佩戴Rokid Glasses眼镜后，只需通过一条语音指令，结合AI眼镜的 扫码识别算法，即可快速完成付款，大幅提升支付效率。 同时，据Rokid方面透露，该款智能眼镜全球订单量已突破25万台，将于6月底开启交付。Rokid创始人 兼CEO祝铭明表示："Rokid Glasses 具备支付能力为用户带来更美好的使用体验，同时也引领智能眼镜 产业进入支付时代，将成为行业的新基准。在这背后Rokid与支付宝在支付和安全领域紧密合作，未来 双方还将开拓更多的新体验。" 会后交流时，Rokid副总裁、生态负责人蔡国祥对笔者表示，预估到今年底，国内AI眼镜的整体出货量 有望超过50万台，而Rokid产能在20万台左右，主要受限于芯片。蔡国祥预估，明年Rokid的出货量目标 是100万台。 "智能眼镜是新品类，很多国内头部的代工厂也是第一次做我们这样的产品，因为之前我们已经公开过 我们代工合作伙伴是蓝思科技，它们本身的代 ...

Core Viewpoint - The launch of "Look and Pay" by Alipay in collaboration with Rokid Glasses marks a significant advancement in wearable payment technology, allowing users to make payments through smart glasses using voice commands and QR code recognition [1][2][3] Company Developments - Rokid Glasses is claimed to be the world's first smart glasses capable of processing payments, integrating Alipay's "Look and Pay" feature [2] - The payment process involves users saying the amount and confirming the payment, with transaction details displayed on the glasses [3] - Rokid has reported over 250,000 global orders for Rokid Glasses, with deliveries set to begin at the end of June [6] Industry Trends - The introduction of "Look and Pay" is part of a broader trend where payment institutions like Alipay and WeChat Pay are innovating to enhance user convenience and efficiency in payment processes [4] - Analysts suggest that the push for smart glasses payments is a strategic move by Alipay to capture a new payment entry point and compete with WeChat Pay in the consumer market [4] - The increasing integration of payment capabilities into smart devices is expected to change user interactions with technology, making payments more seamless and accessible [5]