How well China’s Internet is developed — Mobile Payments

At the beginning of the 20th century, the Internet in China was booming, and with the continuous improvement of infrastructure and the continuous enrichment of living standards, the Internet has been able to quickly enter ordinary families and expand rapidly.

With the continuous advancement of technology in recent years, China Mobile Internet has developed rapidly and its wave has swept across the country, affecting people’s daily life and changing people’s daily life habits.

In the most common case, now in the big cities of China, most young people will not carry cash with them, and basically a mobile phone will get all the payments.

E.g:

• Use mobile phone NFC function Take bus, subway, shared bicycle
• Daily payment, supermarket shopping, mall payment, utility bills, etc.
• Labor compensation
• Trading
• Financial management
• Insurance
• ……

Innovation in the payments sector is affecting every aspect of people’s daily lives.

There are two main promoters of this storm: Alipay and WeChat.

Alipay, with its strong payment system and financial system, rapidly develops and promotes the change of payment behavior in the whole society.

WeChat, mainly with its strong dominance in the social field, also quickly followed up.

Now, in rural areas where China is more developed, during the market transaction, WeChat payment and Alipay payment are also spreading rapidly. Most buyers and sellers use WeChat or Alipay to perform payment and payment operations.

Not to mention the administrative areas such as townships and cities.

The storm is still spreading and expanding. It is not just in China. As long as there are Chinese people, they will see Alipay and WeChat payment words.

Mobile payment based on mobile Internet is not only affecting China, it is still affecting the world, and will eventually benefit all mankind!

What changes do you think China Mobile Internet has brought to your daily life?

What changes have been brought to the world?