Mobile Payment is Ubiquitous in China, and What is Coming Next?

Mobile payment is ubiquitous in China and it is enabled through a different way than in the western world. According to eMarketer, in addition to the pervasive usage at ecommerce through online mobile payment, proximity mobile payment users in China is 577.4 million (by far the largest in the world), with a penetration rate of 81.1% of smartphone users. China is steadily marching toward a cashless society, enabled by Alibaba’s Alipay and Tencent’s WeChat Pay. Those two leading payment systems have introduced QR code-backed payments into the daily habits of consumers, from purchasing in supermarkets or convenient stores to buying a subway ticket. How did this happy in China? And what is coming next? Please join me to the dialogue with Karl Weaver, a wireless and mobile device ecosystem specialist in the Smart Card sector of the wireless industry, and China/Asia-Pacific Business Development Director for Rivetz Corp, an ICO and Mobile Devices Security firm.