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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QR code payment fraud in China’s radar with new caps

china QR code payment fraud globe

As popular as the mobile transactions may be, the country’s central bank is issuing new security regulations. China’s central bank is rolling out new regulations to help prevent QR code payment fraud. Quick response codes have become exceptionally popular in the country but have exposed consumers to fraudulent activities from criminals. Some of the most popular mobile payments apps in China currently use the barcodes to complete transactions. Both WeChat and Alibaba’s AliPay – two of the largest mobile payments apps in the country – use QR code payment technology…

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Online and mobile commerce record broken by Alibaba’s Singles’ Day

mobile commerce record

More smartphone shoppers than ever took part in the huge bargain purchasing event. The Alibaba Singles’ Day Shopping Festival managed to break online and, especially mobile commerce record figures once again this year. Chinese shoppers used their mobile devices to grab great discounts leaving former records in the dust. The estimated total sales for the event continued to rise until reaching an estimated $19 to $25 billion. The event itself is practically designed to break the mobile commerce record of the year before. It is a combination between a bargain…

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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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Tencent reports greater growth thanks to mobile games and other ventures

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Company finds more success through a strong mobile focus Tencent, one of China’s largest Internet companies, has released information concerning its performance over the past year. In terms of sales, the company saw a 45% increase in quarterly sales, which is better than it had expected. Tencent is seeing significant growth through its mobile endeavors, especially where payments and gaming are involved. The company is also selling a wealth of content via its mobile platforms, such as WeChat and QQ. Adding rich content to mobile platforms make them more attractive…

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Apple brings mobile payments service to China

Apple mobile payments - Apple Pay

Apple Pay has launched in China, but may struggle to find success Apple has finally launched its new mobile payments service, called Apple Pay, in China, but the service has received a mixed response among consumers. The Chinese market is quite attractive for companies interested in mobile shopping, largely due to the rapidly growing number of consumers opting to use their smartphones to make purchases online. Apple has been working to break into the Chinese market, but has been met with some resistance from the country’s banks, which had shown…

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Prominent mobile commerce platform adds new features

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Alipay has new features that will make it more than a mobile wallet Alipay, the prominent mobile payments platform from Alibaba and Ant Financial, has introduced a new feature that may expand its influence. The service now has a peer-to-peer transfer and messaging feature, which will allow users to send money between one another using a simple transfer method. The messaging aspect of this feature will also allow users to send digital coupons to their friends, providing them with an effective way to share merchant deals. Messaging service provides users…

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Chinese firms are finding success in mobile commerce

China Map mobile commerce

Chinese companies are establishing dominance in the mobile space A new report from Morgan Stanley shows that Chinese Internet companies are showing better performance in many aspects than their counterparts in the United States. In particular, Chinese e-commerce companies are finding significant success due to their greater focus on the mobile space. Mobile commerce is beginning to become more influential throughout the world, and Chinese companies are proving that they can perform better in this sector than companies in other parts of the world. Alibaba sees 51% of its business…

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India is a leading mobile commerce market

India mobile phone manufacturing

India is establishing itself as the world’s leading mobile market India has become one of the largest and most influential mobile commerce markets in the world, according to a new report from KPCB, a leading venture capital firm. Several Indian firms have begun to invest quite heavily into the mobile space, establishing a strong presence among a new generation of consumers that are interested in mobile payments. India currently stands as one of the fastest growing mobile markets in the world and may hold the position as the world’s leading…

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Global mobile commerce market to boom in the next three years

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Report predicts that mobile commerce market will reach $850 billion by 2018 A new report from Digi-Capital predicts that the global mobile commerce market will explode to $850 billion by 2018. Asia is expected to become a prominent player in the market, accounting for nearly half of the predicted mobile revenue that will be generated within the eastern region. Growing smartphone ownership is contributing to the growth of the mobile commerce market. Consumers are becoming comfortable with the idea of shopping for and purchasing products with their mobile devices, which…

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QR codes verifications to combat fraudulent Alibaba use

masterpass qr code - mobile payments

The massive China based online marketplace has revealed a new strategy to combat its counterfeit products issue. Alibaba, the e-commerce giant from China, has acknowledged that it is struggling with sellers who are peddling counterfeit products on their website, and it is now hoping that a new strategy that uses special QR codes will help to overcome this problem. The company will require all products to have their own unique quick response code attached to them. In order to accomplish this goal, Alibaba has teamed up with Visualead, a company…

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