Shift from competition to cooperation orientation In order to break through the current market deadlock, major payment providers have gradually shifted from business competition in the past to joint cooperation, overcoming the gap between urban and rural payment concepts and the high homogeneity of preferential plans, and establishing a payment ecosystem, such as the recent digital finance worthy of attention. On the topic, more than 15 traditional financial institutions in China have jointly announced the development of "financial card cloud payment", hoping to solve the problem of the low popularity of contactless card readers and increase consumers' willingness to use them.
2. From quantitative to qualitative focus After old picture restoration jointly establishing a payment ecosystem, payment manufacturers should address consumers’ concerns. In addition to maintaining transaction volume, they must also ensure that users can use them in a safer and more convenient environment and strengthen the overall payment quality. At the same time, in order to seek a more stable profit channel, many operators have begun to integrate offline and online payments, develop diversified cash flow activities, and shift their business focus from focusing on changes in transaction volume to focusing on expanding the value of payment functions.
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