Mobile Payment Innovations in China: China UnionPay’s Practice and Experience

Abstract

The popularization of mobile internet has given rise to the demand for flexible and convenient payment methods. For China, it is necessary to keep pace with or even lead the trend of innovation and development in the age of mobile payment. From the perspective of systems engineering, this chapter introduces the research and practice of China UnionPay’s mobile payment project. The general requirements and core engineering problems of the mobile payment project are summarized based on the analysis of the characteristics and engineering difficulties. Integrated innovation of technologies is introduced to resolve the contradiction between ease-of-use and security. Rapid iterative development process is adopted to improve the product release efficiency as well as user experience. The launch of the mobile payment project also opens the window to coordinate the whole payment industry for upgrading and quality-improving.