In recent years, driven by third-party payment institutions such as WeChat and Alipay, and some fourth-party aggregation payment brands, the rise of mobile payment methods and the closely related bar code payment services have also seen rapid growth. Pick up the phone and scan it with the QR code to complete the payment easily. This payment method is favored by many people and brings a lot of convenience to life. However, the bar code payment all over the streets and the streets is also highly valued by the regulatory authorities because of the low barriers to entry and the potential for safety hazards.

The bar code payment service is mainly divided into two modes: main scanning and being scanned, and both need to be paid by a specific receiving end. Scanning code and display code equipment are important carriers for business landing and exhibition industry. The technology used is directly related to the security of each transaction and the legitimate rights and interests of consumers, and also the path of future development of related businesses. However, due to the lack of uniform standards for a long time, the market is full of a large number of mixed products, which is not conducive to market supervision and hinders the healthy and orderly development of the industry.

In order to encourage and standardize financial innovation and promote the sustainable development of bar code payment business, the central bank recently released the No. 242 document on the bar code payment security technical specification and the trial terminal technical specification, and combed the bar code payment market from the technical and business levels. Strengthening management while encouraging innovation, the relevant regulations have been implemented since April 1, 2018. It is worth mentioning that this document has put forward a number of requirements for transaction data, performance equipment, security technology, etc. for special equipment such as display code and scan code, and further standardized the application of these terminals.

At present, the products that support bar code payment services in the market have the following forms:

Display device

1, the static code of the stand or sticker

As the most common lightweight display products on the market, there are many different types of functions and convergence. More common in WeChat, Alipay official QR code or other aggregate payment products, mainly to solve the problem of merchant mobile payment acceptance. Due to the low technical threshold and controllable cost, it is suitable for rapid exhibition. The drawback is that it displays static QR codes, which are easy to be tampered with, stolen, and even carry Trojans or viruses. There are great security risks, and it is easy for the lawless elements to be awkward. According to the bar code payment service specification requirements introduced this time, the static bar code payment order will be limited to 500 yuan from April 1 this year. In the future, it is very likely that it will be replaced by other products and eventually withdraw from the market.

2. Smart guest display with barcode dynamic update function

Commonly used are electronic licensing or smart guest display, etc. This kind of display device has made breakthrough innovations in the technical level compared with the first one, and supports bar code dynamic update, thereby reducing security risks. However, as the relative cost has also increased, it has limited its application scenarios. After the specification is introduced, as long as it meets relevant technical standards, it will replace the static QR code as a lightweight entry product.

Scanning equipment

1, the cash register plugin

The form of the bar code product acceptance bar code is mainly completed by using a scan code gun. Although it is also common, such products are intercepted by the hacker technology without the authorization of the system vendor, and then combined with the bar code business module developed by themselves, and finally realize the bar code cash register. It can be said that the products and the technology used are in a gray area, and it is difficult to obtain recognition from the market and supervision.

2, the cash register system

The scanning code product and the cash register plug-in are consistent in the form of acceptance, and are also completed by using a scanning gun. The difference is that the cash register system is a formal cash register system manufacturer that has expanded or modified its own products, thus achieving support for bar code services, and compliance and security are superior. All types of ISVs/SIs, including traditional ERP and CRM vendors, have been accelerating their transformation in recent years, actively accessing mobile payments and providing more support to merchants.

3, smart POS

Different from the implementation of the first two extensions on the original system, the intelligent POS as a more independent system, in addition to being safer than the first type of cash register plug-in, can get rid of the constraints of the traditional cash register system and provide more diverse applications. Scene and innovation capabilities. At the same time, as a professional commercial financial terminal, it not only supports two sets of acceptance systems based on card base (based on bank cards) and account base (based on mobile payment accounts), but also provides financial level security protection, which is an ideal carrier for financial and commercial services. In the future, it will assume more business functions. The typical one is to provide different types of value-added services such as intelligent marketing, data services, and financial outsourcing, and improve the stickiness of merchants through personalized services, and form an obvious advantage of offline acceptance terminals.

Shanghai Huiyin, as the industry veteran of the earliest engaged in the development of intelligent pos, played an active role in the establishment and application of relevant concepts. He has participated in the drafting of the intelligent POS security specification and successfully developed the first intelligent POS through UnionPay security certification.

In terms of the acceptance system, at the beginning of product design, Huiyin team foresees the development prospects of bar code payment, and innovatively proposes the concept of aggregating multiple types of payment methods, including magnetic stripe cards, chip cards, IC cards, NFC, barcodes/ The full payment type such as QR code is provided as a basic function module to all application developers, so it can satisfy both card base and account base payment.

In terms of security, the team made full use of the practical experience in the field of secure payment. Under the guidance of UnionPay, the concept of “global security” was proposed for the security scheme of card-based payment and barcode-based account-based payment. While ensuring confidentiality, it accurately reads and analyzes bank cards and bar code information, and ensures that relevant private information is always in a safe state in the generation, interaction, storage, and communication from the physical and logical levels. In addition, Huiyin actively uses cutting-edge biometrics to further improve overall safety and ensure safety without shortcomings.

In terms of application scenarios, in close cooperation with mainstream banks and payment institutions, Internet innovation companies, vertical industry solution providers, etc., in addition to financial payments, it also supports O2O, e-commerce, retail, catering, logistics and other fields. Massive application. Help different types of merchants to complete the digital upgrade of daily operations, and connect more services on the basis of this, and use the excellent professional technology of partners to re-energize the merchants and create a new retail model.

On April 1st, after the formal implementation of the bar code payment service specification, the industry will face a large-scale reshuffle. Based on the upgrade and transformation of the business acceptance end, the extensive business model will shift to refined operation and service innovation. Based on its diverse forms of acceptance, rich application scenarios, and financial-grade security, Smart POS will become the basic equipment to promote the standardized development of bar code payment services, and usher in new development opportunities.

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