Konka Baishitong teamed up with UnionPay to test water smart TV payment service

BesTV, a subsidiary of Oriental Media Group (hereinafter referred to as "SMG"), which is fully licensed for IPTV, Internet TV, mobile TV, etc., is expanding its business to the smart TV payment market.

Yesterday, SMG, UnionPay and Konka jointly held a “Smart TV Payment Cooperation Product Launch Conference” in Shanghai to jointly launch China's first online payment system based on smart TV terminals and Apple APP application services.

The idea of ​​tripartite cooperation is that China UnionPay provides smart TV payment technology standards, Konka provides smart TV terminals based on payment standards, and BesTV provides Internet TV broadcast control platform services to build a payment platform that integrates multiple life services.

"Through the all-platform broadcast channel of Know-How, it will stimulate a huge TV payment market, and smart TV payment is the most important part of it." Shanghai Radio and Television Director Fu Xin said at the press conference, "When TV It’s a pos machine.”

Xu Luode, president of China UnionPay, said that the TV industry is shifting from entertainment terminals to e-commerce and public service terminals. The smart TV platform jointly launched by the three parties has opened up a payment link that has been plagued for many years and established a new business model for the TV industry.

Hou Songrong, chairman of Konka Group, said that the smart TV payment system will be the most potential payment platform after online banking and mobile banking.

The TV payment system provides a bank card payment service, and the user can complete online payment of various services such as on-demand and shopping through the remote controller. The company has ported Apple's App store model to the platform and established a new entry point for e-commerce.

The foundation of the three cooperation is a new TV payment company. Last year, China UnionPay initiated the establishment of a TV payment company. In June this year, it and SMG jointly launched UnionPay Business, Bank of China Express, and Ping An Group initiated the establishment of “Silver Vision”. SMG holds 35% of the shares and is a major shareholder. This is the first company in China to provide UnionPay payment services for various TV terminals.

Fei Shi, general manager of Yinshitong, told this newspaper that it mainly cooperates with China UnionPay to establish and promote the industry standard for online payment based on national TV terminals, and to operate various services on various TV terminals.

"Smart TV is just one of the terminals. In addition, IPTV, mobile TV, satellite TV, we will promote." Fei Jie said.

Previously, Alibaba Group's Alipay had cooperated with Hangzhou Huashang to test the water TV payment business. Fei Jie said that the company's positioning is more focused, and now there is no competition. However, in the future, TV payment will be integrated with various modes such as mobile payment and Internet payment, and the industrial scale will reach tens of billions of yuan.

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