The report shows that the global acceptance network of UnionPay Card has extended to 174 countries and regions, covering more than 53.7 million businesses and 2.86 million ATMs, and the value-added services of UnionPay Card are constantly enriched. Among them, the domestic non-acceptance environment has been significantly improved, industry solutions and scenarios continue to be deeply integrated, and the acceptance market construction has also continued to sink to the secondary market with the continuous promotion of mobile payment convenience projects. The innovative development trend of bank card industry not only promotes the development of various payment businesses of banking financial institutions and non-bank payment institutions, but also supports the innovation of payment format, payment scenario and business functions.
The report points out that in 2018, China's payment industry based on bank cards will continue to develop steadily and innovatively against the background of steady global economic growth and the deepening of China's supply-side structural reform. All sectors of the industry have expanded the application of financial technology in payment innovation, and made breakthroughs in the development of independent payment technology and the localization of Chinese payment products in overseas markets. At the same time, the industry regulatory standards have become stricter, the pace of opening up the domestic payment and liquidation market has accelerated, and the payment market has shown a multi-dimensional and integrated development pattern. Looking forward to 2019, the further implementation of relevant regulatory policies, the steady promotion of the opening process of domestic payment and liquidation market, as well as the rapid iteration and application of new technologies and models, will push the industrial development into a new stage of compliance, competition and innovation.