What should you do when shopping without cash and bank cards? Swipe bracelet! And what if you forget to take changes and transportation card? Still swipe bracelet!
On January 11, Industrial Bank and Shenzhentong Co., Ltd. held a press conference announcing that China's first mobile payment bracelet with bus application they co-developed has been officially introduced in Shenzhen. Wearing such a bracelet is equivalent to install a "Shenzhen Tong" transportation card on the wrist, and a citizen can easily take the bus or subway by just waving hand to swipe.
It is introduced by IB that they will introduce the bracelets to other cities across the country in the future.
With code scanning, fingerprint and other new payment methods thoroughly changing the habit of consumption by cash or card swiping, the urbanites have been increasingly favoring light-weight and barrier free payment medium, and seeking the quick and convenient payment process. The users wearing the bracelet can pay for consumption on machines with QuickPass logo at shops, subways and convenience stores in China.
It is learned by the reporter that the mobile payment bracelet with bus application is a supporting product of IB Xing Dynamic credit card. In May 2015, Industrial Bank, a bank advocating "energy, fashion, health and environmental protection" lifestyle, designed “Vigorous Life” credit card brand for urbanites upholding simplicity and wisdom with the "Xing Dynamic" credit card as the main product. It features the ingenious combination of credit card and mobile payment bracelet, not only including traditional sport bracelet functions for mobile payment bracelets, but also creatively breaking the rules of the redeeming points only by consumption, becoming the first to advocate the card benefit - "redeeming credit card points with calories". The bank cooperated with Shenzhentong Co., Ltd., a company specialized in the development of bus smart system technology, to install bus application into the bracelets, which includes transportation tool into mobile payment and greatly facilitates the transportation of citizens.
After upgrade, the “Xing Dynamic” mobile payment bracelet will not only become a "payment magic tool" to take bus or subway, but also realize the real-name system for bracelet bus card account which can be inquired and recharged via mobile app, solving the problem that people are unable to report for loss for their transportation card which is anonymous. At the same time, the hardware performances of the bracelets have been further improved; and the number of colors of the bracelets has been broadened from one (black) to seven including white and red to meet aesthetic preferences of different users.
"It takes us only three months to finish the technology breakthrough and R&D of products with Shenzhentong Co., Ltd., which is based on our high agreement in "convenience for the people" ideas and "innovation" incentives," Chen Jinguang, the vice president of IB, indicated that, the core idea of "Vigorous Life" credit card brand is to integrate "energy, fashion, health and environmental protection" into products, which is consistent with Shenzhentong's operation ideas of "improving transaction efficiency and bringing convenience to citizens", thus building a solid foundation for the effective cooperation between the two parties. Wang Chengbin, the chairman of Shenzhentong Co., Ltd., is also very optimistic about the cooperation perspective, and hopes to make Shenzhentong a real "city pass" and facilitate the "green transportation" of the whole city by cooperation with IB.
Chen Jinguang said, the internet + financial mode, mostly emerging along with the basic living scenarios (clothing, food, housing, transportation, etc.), will be focused on the account as the payment basis, the products as the innovation highlights, the scenarios as the customer acquisition channel, and the services as the core experiences, in order to attract and retain clients by "finance scenarization".
"The cooperation with Shenzhentong Co., Ltd. is just our first step in exploring bus smart application in the field of mobile payment, we will expand the product to other cities across the country in the future," said Chen Jinguang.
In recent years, IB has been actively optimizing the quality of retail products and improving consumption experiences via "crossover and fusion", from Xing Dynamic, the first credit card equipped with wearable mobile payment bracelets to one of the first banks supporting HCE Cloud QuickPass and Apple Pay, remaining its vitality and leading position in thefield of mobile payment.