Chinese consumers do 11x more payments via digital wallets than the average U.S. citizen. WeChat and AliPay are blazing the way while U.S. usage remains flat. WeChat, owned by Tencent, is approaching a billion users with each averaging an hour on the app per day with the ability to pay for an incredible array of services, products, and bills. “Scan-and-pay” is nearly universal in large Chinese cities.
(courtesy of http://www.visualcapitalist.com/)
China is anticipated to exceed the U.S. in all digital transactions by 2020 and have mobile payments overtake all credit card based payments by 2019. Chinese shoppers are comfortable storing financial info on their smartphones and also more progressive in experimenting with alternative payment methods. China and the east continue to outpace the west in many areas and mobile wallets are evermore exploring peer-to-peer payment arrangements utilizing blockchain technology.
Peace @ClumsySilverDad
Read more at:
http://www.visualcapitalist.com/china-digital-wallets-payments/
and
http://www.scmp.com/tech/innovation/article/2114785/china-overtake-us-top-market-digital-payments-2020-report-says
I remember reading about tencent when I first started looking at digital currency. The QQ coin actually predated BTC. Merchants used to put the penguin logo in their window or shop to indicate they accepted that form of payment. The Chinese have always been way ahead of us on virtual as a form of payment.
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Very cool info , ty
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With so many people in China is not surprising...)
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You got a 5.65% upvote from @upmewhale courtesy of @clumsysilverdad!
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You got a 4.55% upvote from @upyou thanks to @clumsysilverdad!
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Sneaky Ninja Attack! You have been defended with a 0.75% vote... I was summoned by @clumsysilverdad! I have done their bidding and now I will vanish...Whoosh
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This post has received a 0.54 % upvote, thanks to: @clumsysilverdad.
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This post has received a 11.42% upvote from @msp-bidbot thanks to: @clumsysilverdad. Delegate SP to this public bot and get paid daily: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP Don't delegate so much that you have less than 50SP left on your account.
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