China's mobile payments are changing the world's habits

With the popularization of mobile phones and mobile Internet, Chinese people's consumption habits have gradually changed from traditional methods of cash and card swiping to mobile payment methods such as Alipay and WeChat. This payment model, which has been rated as one of China's "New Four Great Inventions", has started from China and is changing the world's habits.

According to data, during the National Day holiday, more than 6 million mainland tourists traveled abroad, covering 88 countries and regions and 1,155 cities around the world. The number of people using Alipay to pay abroad increased by more than seven times year-on-year, with an average per capita consumption of 1,480 yuan. At the same time, about 3.7 million users used Alipay to search for local food, drink, entertainment and discounts abroad.

The domestic outbound tourism boom has brought an opportunity for domestic mobile payment institutions to accelerate their overseas layout. The Chinese people's demand for mobile payment has far exceeded the imagination of foreign merchants, and even forced them to change their traditional payment habits. Therefore, more and more foreign merchants choose to cooperate with domestic mobile payment providers such as Alipay and WeChat.

On the eve of National Day, a German duty-free shop called Apollo opened Alipay and organized its employees to learn Chinese in order to cater to Chinese tourists. In Japan, many businesses also sought help online, hoping that someone could help them connect to Alipay because there are too many tourists who need it.

At the same time, in order to attract Chinese tourists, 100,000 overseas merchants have launched "Alipay prices" this year, providing Chinese tourists with exclusive discounts of "super-national treatment".

The popularity of mobile payments in China has changed the world's consumption habits to a certain extent. As a country with a strong exporter of tourist resources, catering to the habits of Chinese consumers is definitely a wise choice for global merchants.

Data shows that Alipay has been connected to offline merchant stores in 33 countries and regions in Europe, America, East Asia and Southeast Asia; WeChat Pay has also landed in more than 13 countries and regions, covering more than 130,000 overseas merchants and supporting more than 12 foreign currency settlements.

In addition to Alipay and WeChat, Baidu Wallet and JD Finance have also begun to go abroad. Baidu Wallet has reached a cooperation with PayPal. In the future, Baidu Wallet users can make online purchases and payments to PayPal international merchants, and offline payment can be realized by scanning codes at many merchants in four major tourist cities in Thailand. JD Finance reached a strategic cooperation with Thailand's Central Group in September to promote the consumption experience centered on payment through the establishment of a joint venture.

Judging from the current situation, China's mobile payment technology is already the world's leading technology, and is creating a wave of "cashless" transaction mode in the global market. Starting from Chinese users, mobile payment is also rapidly changing the transaction habits of the entire world.

The development of mobile payment has also brought changes to other industries. For example, we can now ride shared bicycles anytime and anywhere by linking to the backend of Alipay or WeChat, instead of taking a card to a fixed parking pile to swipe a bicycle. This is undoubtedly a subversive change for all industries.

In today's China, the proportion of mobile payments, both online and offline, has far exceeded that of cash and bank cards, and China's consumption habits are gradually being imitated by more and more countries, bringing them more and more benefits while bringing convenience.

As mobile payment has become a whirlwind in the global consumer market, a large number of foreign companies have also begun to enter the market. Google, Facebook, Amazon, Softbank, etc. have also begun to get involved in mobile payment.

It is foreseeable that in addition to global merchants and consumers beginning to adopt mobile payments, a mobile payment war brought about by the world's technology giants will also begin, and Chinese companies, which have inherent advantages in this battle, will also lead the direction of global mobile payments.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.