-POS (point of sale) is a multifunctional terminal. It can be installed in special merchants and acceptance outlets of credit cards, and connected with computers to realize automatic transfer of electronic funds. It has the functions of supporting consumption, pre-authorization, balance inquiry and transfer, and is safe, fast and reliable to use.
"Express Pass" represents the contactless payment products and applications of UnionPay, which has the characteristics of small amount and fast payment. Users buy goods or services, confirm the corresponding amount, and use financial IC cards or UnionPay mobile payment products with the function of "flash payment" to quickly complete the payment with one button on the contactless payment terminal that supports UnionPay "flash payment". Generally speaking, the single amount does not exceed 1000 yuan, and no password and signature are required. The non-contact "flash payment" terminal mainly covers daily small fast payment merchants, including supermarkets, convenience stores, department stores, pharmacies, fast food chains and other retail places and public service fields such as vegetable markets, parking lots, gas stations and tourist attractions.
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Flash payment products provide credit card repayment, convenient payment, online shopping and other services, and can be "paid at one time" on more than 900,000 terminals supporting contactless payment in China. With the establishment of near-field payment service business circle in 50 cities 100, UnionPay flash payment will become more convenient and relaxed.
At present, well-known convenience stores, fast food restaurants, large supermarkets, some cinemas and some entertainment and catering giant stores in first-tier cities in China have the qualifications and hardware facilities to use the flash payment function.
Products that support flash payment function include not only IC bank cards of major banks, but also some mobile clients that have reached cooperation agreements with UnionPay, such as smart phones.
Mobile products with UnionPay certification include: Samsung GALAXYS3, S4 and S5. HTC is eager for C, an XC, an X 16G, and some domestic machines, but basically it has not started to circulate in the market.
Baidu Encyclopedia: Flash Payment