Chinese mobile payments taking off as country moves toward cashlessness

Chinese mobile payments

A growing number of cities throughout the nation are accepting smartphone transactions for public transit. Chinese mobile payments are becoming increasingly valuable as residents, merchants and services adopt its use on a rising basis. During the quarter running from July through September 2017, their value tripled. Alipay and WeChat Pay use has been spreading like wildfire throughout Chinese cities. Consumers are using these Chinese mobile payments apps to pay for products, services, tickets and even high yield financial products. During that same quarter, the transactions in the country totaled an…

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Chinese mobile payments are driving the country toward becoming cashless

Chinese mobile payments

People in the country have used cash for thousands of years but smartphones are rapidly replacing it. Chinese mobile payments are quickly gaining ground as the country goes increasingly cashless in favor of smartphones. Despite the popularity of cash and the fact that it has been used in China for millennia, its days may be numbered. This move toward mobile wallets is allowing much of the country to skip the use of plastic credit cards. In May, the Trump administration celebrated a bilateral deal with China, allowing American credit cards…

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Alibaba shows off new technology for mobile payments

mobile commerce payments smartphone shopping

Alibaba announces the Smile to Pay service, using facial recognition technology Alibaba has been showcasing some new technologies recently, including facial recognition technology that could change the way people pay for things. The company has announced a new service, called Smile to Pay, which is currently in a beta testing phase. Alibaba CEO Jack Ma showed off the new service during a recent event, which highlighted the way the service could be used to authorize mobile payments. The service could help add more security to the mobile commerce space, if…

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Mobile commerce is becoming more competitive in China

China Map mobile commerce

The digital commerce space is growing quickly throughout China E-commerce is gaining momentum in China, especially as more people acquire smartphones and tablets. A growing number of Chinese consumers are beginning to rely on their mobile devices to accomplish all of their shopping. This is particularly the case among those with busy schedules and those with new families. The growing popularity of mobile commerce has also introduced new trends to the Chinese commerce space, one of which involves Chinese consumers purchasing everyday products from foreign countries. 450 million mobile consumers…

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Alibaba shows interest in mobile payments from Apple Pay

iOS 8 iphone 6 apple mobile security

The company’s executive chairman, Jack Ma, has expressed his willingness to work with the American company. Jack Ma, the executive chairman of Alibaba Group Holdings, has now stated that he is open to working with Apple Inc through the use of its mobile payments service called Apple Pay, which recently launched in the United States and has been swimming in controversy ever sense. At the same time as retailers shut down NFC terminals to block Apple Pay, the richest person in China is considering its adoption. This move is part…

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Mobile payments may impact Alibaba’s IPO

Mobile Payments for ipad

Alibaba takes the last steps toward initial public offering in the US Chinese retail giant Alibaba is currently undergoing something of a transformation. Last year, the company’s founder, Jack Ma, stepped down as CEO to embrace pseudo-retirement. Ma has continued to play a central role in determining Alibaba’s future, which is beginning to look quite mobile-centric. Alibaba is preparing to submit its first major filings in its initial public offering in the U.S. and speculation concerning how the IPO will fare is running rampant. Focus on the mobile space has…

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