From Bills to QR Codes: China’s Mobile Payment Craze

Chinese stores and services are increasingly centered around mobile payment. Maintaining a rapid growth, China’s mobile payment reached a total amount of ¥157.55 trillion ($23.81 trillion).  In China, e-wallets account for a 58% share of the mobile payment market (when the figure is just 15% in the US and 23% in the UK). The dominance of mobile transactions is penetrating Chinese daily lives and the Chinese market shows us the direction for the future of retail.

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