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China's mobile payment era: Costs and benefits

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2017-05-11 08:31China Daily Editor: Mo Hong'e ECNS App Download
A foreigner scans the QR code to pay for snacks at a food stall in Hangzhou, the capital city of Zhejiang province, on April 14, 2017. (Photo/Xinhua)

A foreigner scans the QR code to pay for snacks at a food stall in Hangzhou, the capital city of Zhejiang province, on April 14, 2017. (Photo/Xinhua)

All vendors selling a range of produce at a marketplace in Luyuan community of Beijing's Xicheng district support mobile payments, and consumers can scan QR codes to pay through WeChat Wallet or Alipay.

A vendor, who sets up a stall in Luyuan community, said using mobile payments was not forced by the market regulator, but done voluntarily.

"All use, and if you did not use, it means a loss," the vendor said.

The popularity of mobile payments in China also shocked neighboring nation Japan, when an online post, recently published at a Japanese forum, stated a beggar even had to use the mobile payment QR code in China.

It has grown into a lifestyle choice of Chinese people using mobile payments throughout their daily activities and interactions, following the rapid development of mobile payment services led by third-party payment companies.

Mobile payments have not only become popular in large cities and urban areas, but also in the country's county towns and rural areas. Users prefer the services for convenience.

"It is troublesome to get lots of exchanges while buying vegetables, especially when dealing with coins, which are uneasy to carry," said a person who likes to use mobile payments.

  

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