Some time ago, Apple’s cooperation with UnionPay was announced. Apple Pay will follow the good news in China. Today, it’s a “expected” turn. UnionPay does not accept Apple Pay, but only supports App. Store.
Adding UnionPay's payment channel to the App Store is not a surprise. Before the domestic users bought the app on the App Store, it was very troublesome. Now with the support of UnionPay, it is more convenient to use the Apple App Store. As a result, the App Store's consumption will increase, Apple will get higher income, and the other side of UnionPay has added a new business that it did not have before. Users, UnionPay, and Apple win the three things, without any resistance, naturally it is a waterway. However, the outside world is looking forward to, China UnionPay supports Apple Pay, and the mobile phone payment using iPhone mobile phone has a bright prospect in China. It is still difficult to see.
Why does UnionPay refuse Apple Pay? There are two reasons for this. One is that UnionPay has its own mobile payment system, which excludes Apple Pay's market that wants to monopolize its huge potential. Second, from the perspective of risk control, the reliability of Apple Pay mobile payment, especially the potential risks of foreign companies participating in the domestic financial payment chain. In fact, whether it is the first reason or the second reason, over time, it will be overcome soon, or it will be untenable after an in-depth inspection.
First of all, Apple Pay has super high security, and has not sought to dominate the entire payment industry chain. At the risk control perspective, UnionPay is completely worried.
Apple Pay mode, to put it simply, just replaces the credit card held by the user with a smartphone. Mapping the credit card information to the smartphone, it seems like a simple transformation, behind Apple's adaptation of the software and hardware on the iPhone, transforming and accessing the original payment network, a series of "engineering" is very thorough and cautious.
The iPhone uses TouchID fingerprinting instead of a credit card payment signature. This process must ensure that fingerprint information is not easily leaked. Apple developed a technology called Secure Enclave to store user fingerprint information in the form of hardware encryption on the ARM chip. On the hardware, the ARM chip is designed with a security zone and a common zone. The security zone is isolated from the rest of the chip. Secure Enclave saves the user's fingerprint information in a secure zone. Under normal circumstances, the information exchange between the operating system and the security zone can only be in the form of one-way "inquiry". If you give the security zone "window" a query command, it will return you a "match" or "mismatch". the result of. Under such conditions, even if the iOS system is compromised, the hacker can completely control the mobile phone, and it can only verify the fingerprint information through the system request, instead of directly intercepting it.
Replacing a signature with super-secure fingerprint information is only the first means of verifying permissions. The more difficult is to virtualize the card information carried by the user's credit card, map it into a Token token and securely save and transmit it. The EMVoc organization, which is joined by the world's three major credit card organizations and China UnionPay, is responsible for formulating the software and hardware standards for payment systems for chip credit cards and cash cards (debit cards). EMVoc introduced the Token mechanism in the latest standard EMV Payment Tokenisation Specification V1.0, which was released in April this year. Apple first applied it to Apple Pay. (Industry people suspect that this standard is personally established and promoted by Apple. Apple can influence the EMVoc organization and allow the other party to adopt its own standards, indicating that its preparation is very sufficient, and the new standard must also show great superiority.)
In the Token system introduced by Apple Pay, in addition to the traditional electronic payment participants, two new parties, Token SP and Token Requestor, have been added.
Application principle of Token: After the user manually inputs or uses the iPhone camera to scan and recognize the credit card main card number (PAN), the Token SP generates a Token according to the PAN provided by the Token Requestor, and transfers the Token as a substitute value of the PAN in each part of the payment, so that the payment is made. In the process, the unique PAN is only transmitted between the Token SP, the transfer party, and the issuer. Since the three private lines are connected and trust each other, and when the Token is detected to be risky or expires, a new Token replacement will be generated again. Reduce the possibility of PAN leakage during the payment process.
Apple Pay's role in this new payment chain is to provide a Token Requestor, which is a Token information request. Once the Token token information returned by the Token Service Provider is obtained, this information will be saved to the iPhone's NFC chip. The NFC chip also uses a technology called "Secure Element", which is stored securely in an access-limited cryptographic chip area.
The credit card information is first replaced by Token, and then the Token information is stored in the iPhone in the form of hardware encryption of the NFC chip. During the transaction, Apple servers and POS merchants cannot obtain and store Token information, because the key Token SP server is in the hands of UnionPay. In other words, the credit card information and payment transaction information are still the same as the original, and the control is in the issuing bank and The credit card organization operates in the payment network. It not only improves the security of payment, but also protects the privacy of users, and does not affect the established permissions of the various parties in the original payment chain. The Token mechanism introduced by Apple Pay can be said to be perfect.
Secondly, Apple Pay shows great advantages and the transformation cost is very low. Silver Connect's Apple Pay can earn more than building a mobile payment system independently.
In order for Apple Pay to operate in China, it is enough to use existing POS machines (most of which support NFC), and the terminal merchants do not add any new costs. The main transformation is the UnionPay-led transfer payment network, joining Token SP and Token Requestor. This requires Apple to disclose all the technical implementation details of the new EMVoc standard to UnionPay, and cooperate with it to complete the network upgrade and transformation. I think Apple is willing to do so. Even if it bears the relevant costs, it is worthwhile for a huge market like China.
With the stable share of iPhones and high-quality users, terminal merchants can directly use existing pos machines, and once the transfer payment network is completed, Apple Pay can be operated immediately. There may be people who worry that the user's payment habits are not easy to change. Really, is there really no safer, more convenient, and better mobile payment method than Apple Pay?
TouchID fingerprint recognition + Token token matching, one is ARM chip-level encryption, one is NFC chip hardware encryption plus Token token network verification, hacker stealing cloud data does not make any sense, stealing mobile phone hardware can not directly use Apple Pay mobile Pay. Because it is necessary to crack the device ARM chip to restore the fingerprint information, crack the device NFC chip to restore the Token information, and then invade the Token SP server of the transit network to find the mapped credit card number. To achieve the above three points at the same time, there is almost no real possibility.
Not only is the security highest, Apple's most important user experience has successfully made Apple Pay the most convenient mobile payment method: the handheld iPhone is close to the POS machine, the system will automatically pop up the payment interface, and the finger stays at the Home button for 1 second. The entire payment process is over. Apple Pay wins in every respect compared to QR code scanning, ultrasonic payment, and UnionPay flash cards that are easily lost and stolen.
Can UnionPay build a mobile payment model that is superior to Apple Pay alone? It is impossible at all. Once Apple Pay is popular in foreign countries, the iPhone can see a huge number of high-quality users and high conversion rate, extremely low acceptance costs, reasonable credit card processing fee sharing, and no seeking to lead the mobile payment industry chain, try to maintain the original With the payment control structure, UnionPay will eventually compromise.
Of course, some of our organizations have always liked to control everything. Over time, their "other attempts" failed and they will find how stupid it is to reject Apple Pay. Finally Once again, Apple Pay no bump anybody, neither do they seek to control, it brings a safe and convenient mobile payment, transfer payment habits huge body mass potential new users, and the corresponding new huge gains!

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