With the acceleration of digital transformation and the development and innovation of mobile payment technology, mobile payment has gradually become the mainstream payment mode in society. Data shows that in 2019, the scale of mobile payment users in China was 733 million, and the market penetration rate is increasing. It is expected that the scale will reach 790 million in 2020. Under the influence of the COVID-19, the growth rate of China mobile payment transaction scale has dropped significantly. In the first quarter of 2020, the transaction scale was 90.8 trillion yuan, with a year-on-year growth rate of 4.8%, but in the long run, consumption and services to online will promote continuous growth in scale. As the data of iiMedia Research showed, the three most common payment scenarios of China mobile payment platform users are catering consumption, small physical store/convenience store consumption, and online shopping on e-commerce platforms. The mobile payment scenario presents a segmented and diversified development. When choosing a mobile payment platform, 62.4% of users give priority to payment convenience. Providing efficient and convenient services has become the key to the mobile payment platforms development.
Driven by factors such as favorable policies, a sharp increase in demand, and the launch of 5G, the market size of China's AI industry continues to expand. The core industry market size will reach 150 billion yuan in 2020, and development will move from the standardized stage to the professional stage with broad market prospects.iiMedia Consulting analysts believe that with the maturity of the technology and the layout of the platform, the future market development potential will continue to expand. Besides, AI data services will be used in a variety of practical areas, such as medical, financial, new retail and security.With the continuous integration of AI and traditional industries and the development of 5G, data types will become more diversified. In addition, more and more enterprises will put forward higher requirements for accuracy as scenarios are customized and upgraded, prompting AI data service transfer from extensive methods to refined methods.The increasing improvement of the AI data service industry chain has led to increasingly fierce competition. Therefore, the technological upgrading of data services will become the focus of competition, which to a large extent will directly affect the competitive position of data service providers in the market.
iiMedia Research(艾媒咨询)数据显示，中国移动支付交易规模在2019年第三季度已经达到252.2万亿元，用户规模在年底预计超过7.3亿人，覆盖更多层级的用户，全国普及程度持续提高。中国移动支付行业正在往标准化和规范化发展，市场竞争加剧。随着人脸技术的成熟，刷脸支付加快普及，iiMedia Research(艾媒咨询)数据显示，预计到2019年刷脸支付用户规模将会达到1.18亿人。未来移动支付行业会更加规范化，市场逐渐下沉，细分化的支付场景和多元盈利模式将会成为移动支付行业新的发展入口。
As the data of iiMedia Research showed, the scale of China's mobile payment transactions has reached 252.2 trillion yuan in the third quarter of 2019, and the number of users is expected to exceed 730 million by the end of the year. The popularity of mobile payment in China is increasing and covering more levels of users. China's mobile payment industry is becoming more standardized, and market competition is intensifying. With the development of face perception technology, the popularity of face payment has increased, according to iiMedia Research by 2019, the number of face brush payment users will reach 118 million. In the future, the mobile payment industry will become more standardized and go towards to the market sinking. Segmented payment scenarios and diversified profit models will become the new development opporunity of the mobile payment industry.
China's artificial intelligence industry is growing rapidly. It is expected that the scale of China's artificial intelligence core industry will exceed 100 billion yuan in 2030. The deposition of data, the optimization of algorithms, and the enhancement of computing power have laid a solid foundation for the commercial application of artificial intelligence technology. More and more traditional industries rely on artificial intelligence technology for transformation and upgrading, and they have attracted widespread attention. According to iiMedia Research data, the integrated development of artificial intelligence and finance, security, medical care, education and other fields has become the focus of attention of the public. 37.8% of the respondents said they knew the application of artificial intelligence in the financial field best; 39.3 % Of the respondents are most looking forward to the application of artificial intelligence in the medical field; 66.8% of the respondents are optimistic about the future development of artificial intelligence. iiMedia Consulting analysts believe that with the continuous improvement of the segmentation and specialization of the artificial intelligence field, the commercialization of artificial intelligence will accelerate, but the information security risks and ethical issues brought about by rapid development cannot be ignored.
2019年上半年移动支付交易规模达166.1万亿，在移动支付市场规模逐渐扩大以及人脸识别技术发展渐趋成熟的背景下，刷脸支付开始崭露头角。iiMedia Research(艾媒咨询)数据显示，预计2022年中国刷脸支付用户规模将超7.6亿人。刷脸支付的发展以及普及，对于用户、商家以及社会有着重要价值。对于用户而言，刷脸支付省时、便捷、体验好和能实现信息与交易安全保障。iiMedia Research(艾媒咨询)数据显示，受访用户对在流程耗时、便利程度、支付体验、交易安全和信息安全五个方面对刷脸支付的满意度分别为8.1、7.3、7.3、7.1和7.0，高于其他非现金支付方式的满意度。对于商家来说，刷脸支付赋能商家的经营发展，帮助他们改善排队效率、提高顾客好评率、提高竞争力和增加客流。九成的受访商家认可接入刷脸支付后，顾客排队效率和顾客好评的提升。刷脸支付的发展同时也带动着上下游产业的发展，促进硬件制造商、传感器制造商等新产业新职业就业的发展，为社会带来巨大价值。
In the first half of 2019, the transaction scale of mobile payment reached 166.1 trillion yuan. In the context of the gradual expansion of the mobile payment market and the gradual maturity of face recognition technology, the face-scanning payment has begun to emerge. As the data of iiMedia Research showed, it is estimated that the scale of users of face-scanning payment in China will exceed 760 million in 2022. The development and popularity of face-scanning payment is of great value to users, corporate and society. For the user, the face-scanning payment saves time, is convenient, and ensures information and transaction security. As the data of iiMedia Research showed, the respondents' satisfaction with the face-scanning payment in terms of spending time, convenience, payment experience, transaction security and information security are 8.1, 7.3, 7.3, 7.1 and 7.0, higher than other non-cash payment methods. For merchants, the face-scanning payment empowers their management, helping them improve queue efficiency, improve customer feedback, improve competitiveness and increase customer flow. Ninety percent of the surveyed merchants recognized the increase in customer queuing efficiency and customer praise after accessing the face-scanning payment. The development of the face-scanning payment also drives the development of upstream and downstream industries, and promotes the development of new occupations and employment in new industries such as hardware manufacturers and sensor manufacturers, bringing great value to the society.
With the improvement of people's living standard and consumption level, the development of the Internet, and the rise of the new energy automobile industry, the Internet auto finance industry has entered a stage of rapid growth, and more Internet platforms will be introduced in the future. As the data of iiMedia Research showed, China's Internet auto finance market is expected to reach 560 billion yuan by 2020. In addition, 80% of Internet users who plan to buy cars are willing to use Internet auto financing products. 54.3 percent of the users expressed trust in Internet auto financing products, and the most worrying factor for potential users was hidden fees, the low efficiency of auditing and relaxation. Under the inevitable trend of Internet development of auto finance, enterprise brand construction is the key to future competition and development.
iiMedia Research（艾媒咨询）数据显示，2018年中国实有各类市场主体11020万户，其中个体工商户规模超7000万户，庞大的企业市场主体催生了支付机构服务B端的巨大市场。而针对B端支付的业务中，收单业务成为第三方B端支付企业重点挖掘的对象。截至2019上半年，中国联网POS机已达3287.3万台，每万人对应POS机235.6台。小微商户除了收单业务外，对于营销、财务管理等服务也具有较高的使用需求。iiMedia Research（艾媒咨询）数据显示，85.4%的受访商户表示会关注第三方支付平台增值服务的提供情况。但受限于经营体量，它们难以开发相关业务系统或寻找适合的服务渠道。而第三方B端支付平台也开始以支付为切口，为小微商户提供增值服务，以更好地赋能商户经营。
As the data of iiMedia Research showed, there were 110.2 million market entities in China in 2018, of which more than 70 million businesses were self-employed, and the huge market participants gave birth to a huge market for payment institutes to serve merchants. Among all the business for merchant payments, receipt business becomes the focus of third-party merchant payment enterprises. As of the first half of 2019, the connect POS has reached 32.873 million units, with 235.6 POS per 10000 people. In addition to receipt business, small and micro enterprises also have a high demand for marketing, financial management and other services. As the data of iiMedia Research showed, 85.4% of the interviewed enterprises expressed concern about the value-added services provided by the third-party payment platforms. However, limited by their business volume, it is difficult for them to develop relevant business systems of find suitable service channels. The third-party merchant payment platform has begun to take payment as a starting point to provide value-added services for small and micro enterprises, in order to better enable enterprises to operate.
In 2018, the global insurance premium (excluding health insurance) was 3.66 trillion euros, up 3.30% year on year. On the Chinese side, life insurance and property insurance are developing on a dual track. With the increase in the proportion of people with high net worth, the high-end insurance market has begun to develop. According to AI media consulting analysts, the most important concern of China's high-end insurance target customers is also the pursuit of wealth inheritance and safety. Especially in the new situation of unstable international situation, the preservation and safety of financial market and property has become one of the most concerned topics for China's high-end insurance target customers. Moreover, more than half of the interviewees said that they had already begun to prepare or were in the process of making relevant arrangements for wealth inheritance. At the same time, high-end medical insurance is also one of the important attractions of high-end insurance.
In the first half of 2019, the scale of China mobile payment transactions reached 166.1 trillion yuan, up 24.2% from 2018, and the growth momentum is back on track. China mobile payment market competition pattern is mainly divided into two echelons, the first tier is Alipay and Tenpay, because of its first advantage to occupy the market; the second tier is represented by Suning Pay and cloud joint flash payment, and its product pattern features have a loyal user group. The ‘To C’ payment market is saturated in the region, and gradually tends to verticalize the scene and refine the service diversification, while the ‘To B’ market competition intensifies. As the data of iiMedia Research showed, there are 11.2 million market entities in China in 2018, including 73.286 million individual businesses entities. A large number of market entities' demand for mobile payment ‘To B’ services drives the development of mobile payment B-terminal market. Mobile payment platform mainly includes three aspects: basic capabilities such as big data cloud computing, platform development and operation capabilities and financial capabilities. The mobile payment products that the respondents preferred to access were mainly the products of the two giants, Alipay and WeChat Pay. The Yunshanfu with the UnionPay background ranked third, accounting for 35.6%. The mainstream payment platform not only empowers the merchants, but also goes overseas, and Alipay, WeChat Pay and Suning pay have arranged the cross-border payment market. In the future, cross-border business will become an inevitable trend, and mobile payment will begin to develop globally.
In 2018, China's elderly (60 years & above) accounted for 16.1% of the total population, which means that China has entered an aging society. Pension finance has become a key factor in solving China's deep aging society. At present, China's pension financial system still has a big gap compared with developed countries. The commercial pension insurance in US accounts for 35.2% of the total, and its scale reaches 9.9 trillion dollars. However, the first pillar of pension finance in China is the basic pension insurance system, which accounts for nearly 80% of the entire pension system, with a scale of only 4.4 trillion yuan. At the same time, due to the low replacement rate of China’s first pillar of pension finance and the low coverage rate of the second pillar, more than 80% of Chinese nationals fail to meet their demand; The third pillar of pension finance in China has unique advantages in quickly identifying and responding to consumers' needs in a timely manner, and its basic needs are strong. According to data from iiMedia Research, the biggest preference for Chinese citizens is bank deposits and bank wealth management, which account for 30.2%, followed by commercial pension insurance products (20.5%), equity funds (13.2%), and purchase of real estate. (10.0%). iiMedia Consulting analysts believe that the popularity of Internet and mobile payment in recent years has greatly improved the convenience of accessing financial services for middle-aged and elderly people; the continuous improvement of financial technology based on big data and artificial intelligence analysis improves the science of pension investment. Financial technology becomes an important driving force for the rapid development of pension service finance in China. With the development of service-oriented government and PPP financing model, China's pension market will be further improved.