Tencent QR code payment service users exceeds 50 million

Tencent QR Code - Public Transport in China

More than 50 million users across 100 cities in China now use the QR code payments for public transportation. Tencent’s QR code payment service that it launched for public transportation “sao yi sao”, back in 2017, recently exceeded 50 million users across 100 cities, according to local media in China, reported TechNode. Tencent has placed a special focus on public transportation. Since 2017, the massive China-based internet company has set its sights on integrating its technologies into public transportation, among these technologies included Tencent QR code payments. It has also…

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Digital QR code ID cards headed to China

QR code ID cards - ID Card

The country’s e-governance is using a combination of quick response codes and smartphones for identification. China is launching a new type of QR code ID cards for its citizens to use, provided they don’t mind a digital facial scan. This marketplace is known for the success of its mobile payments and m-commerce systems. The popularity of mobile payments has reached the point that it is driving the country forward into becoming cashless. This has been a goal for many nations around the world, but China is doing it successfully. It…

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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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QR code metro passes will soon be available to Shanghai riders

example of turnstiles - QR code metro

Commuters will be able to use their smartphones to scan quick response codes to pay for trips. A number of Shanghai metro stations have QR code metro pass codes to let riders scan to pay. These new mobile payments are meant to make it faster and more convenient for commuters to pay their fares. The subway passengers are able to pay for their tickets by using either of two mobile payments services. The two QR code metro fare services are Alipay and China UnionPay. Riders who use either of those…

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Mobile payments popularity will be greater than credit cards in two years

Starbucks mobile payments popularity

A new U.N. report underscored the skyrocketing growth of PayPal, Alipay and other blockchain based transaction systems. A United Nations report indicates that by 2019 mobile payments popularity will “overtake credit cards” in terms of online shopping use. The report pointed to blockchain using systems as primary drivers for the popularity of mobile transactions. The United Nations body released a report saying that digital currency systems of payment will see greater use in e-commerce than debit and credit cards by 2019. The mobile payments popularity report was released by a…

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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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Fraudulent QR code plays central role in $13 million scam

payment fraudulent qr code

As commonplace as quick response code scanning may be in China, scams are becoming a problem. Many residents of the Chinese city of Guangzhou fell victim to a fraudulent QR code that scammed them out of millions of dollars. The scam stole an estimated RMB90 million (about US$13.03 million) from unsuspecting smartphone users. The use of quick response codes has become exceptionally commonplace in China. They are used as a part of mobile payments to let people complete transactions at the local convenience store. They are found on product packaging…

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Massive QR code network expansion headed to Paytm in India

mumbai india qr code network payments

The mobile payments company is making a tremendous investment to build an Alipay-like presence. India’s largest mobile wallet, Paytm, announced its intentions to make a very large investment into growing its QR code network. The company intends to spend about $89.6 million to assist merchants to accept mobile payments via quick response code. The company is hoping to use the barcodes to see similar successes to Alipay and WeChat. The reason is that those two Chinese companies have managed to successfully create and execute a QR code network. That said,…

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Alipay mobile wallet launches in Taiwan

Taiwan Mobile wallet commerce

The Chinese payments app has been moving its way into Taiwanese businesses since the start of the month. Alipay, the financial side of Chinese giant corporation, Alibaba, has announced that almost 3,500 businesses in Taiwan now accept its mobile wallet app to complete payment transactions in supermarkets, department stores, chain stores, telecoms and even street vendors. The official launch started at the beginning of December and the applications to take part have poured in. According to the Ant Financial Global Business-Taiwan director, Ray Gu, the rising number of visitors to…

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Prominent mobile commerce platform adds new features

mobile payments trends

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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