Barcode payment is a delayed "war" between UnionPay, Wechat and Alipay in China. This war, which should have been started in 2014, is postponed to the end of May 2017 due to various reasons.
On May 27, combined with more than 40 commercial banks other third parties of payment such as Jingdong payment, UnionPay launched cloud flash payment 2D barcode payment. From June 2 to June 8, there is about one hundred thousand businesses offing a 38% discount to consumers if they use UnionPay cloud flash pay cards, mobile phones and barcode payment.
In the past three years, Alipay, WeChat payment has long been spreaded and well accepted in supermarket, catering and other high-frequency payment scene. By the end of the first quarter of 2017, among China's third-party mobile payment market transactions, Alipay counts 53.7%, WeChat payment counts 39.51%. Both together accounted for more than 93%. Therefore, since the current mobile payment market is almost monopolied by Alipay and Tenpay, it's very difficult and still a long way to go for UnionPay to open the market.
Generally speaking, barcode payment in China is almost in a leading position of the world. We believe that it will be used more widely in the near future. Thus, barcode scanner products become more and more important for businessman. A barcode scanner with fast reading speed gives a good user experience to consumers. Now, Rakinda Group, as a leading barcode solution supplier, launched a new desktop QR code scanner RD4100, catering to the fast development of mobile barcode payment.
