Beijing Payment Interconnectivity Sees New Pioneering Steps: Yufu Payment and Taobao and Alipay Promote the Development of Small and Medium-sized Payment Institutions

Tech 2024-08-16 09:06:50 Source: Network

Beijing Payment Interconnectivity Sees New Pioneering Steps: Yufu Payment and Taobao and Alipay Promote the Development of Small and Medium-sized Payment InstitutionsIt is understood that earlier, the operator of Yufu Payment has disclosed in detail the cooperation with Taobao and Alipay. The specific operation mode of this cooperation shows novel features compared to the interconnection mode of traditional payment institutions

It is understood that earlier, the operator of Yufu Payment has disclosed in detail the cooperation with Taobao and Alipay. The specific operation mode of this cooperation shows novel features compared to the interconnection mode of traditional payment institutions. Specifically, when shopping on Taobao App, users do not need to change other payment tools or download third-party applications to complete payments. Users can simply select Alipay as the payment method after shopping completion and complete the payment through corresponding processes.

Industry experts believe that the cooperation between Yufu Payment and Taobao and Alipay is a large-scale interconnection, which is a specific manifestation of the People's Bank of China's guidance for scenario opening and interconnection. This cooperation is conducive to breaking the existing "several dominant" situation in the payment market, forming a good demonstration effect, and will further promote the development of small and medium-sized payment institutions and broaden the scope of service for merchants.

In the future, it is widely believed that the interconnection of payment fields will continue to deepen and develop. The cooperation between small and medium-sized payment institutions and large institutions will bring more opportunities and development space for both parties. At the same time, it will also bring more convenient and efficient shopping experiences to more users. We look forward to this cooperation bringing more positive energy and vitality to the development of the industry.

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