Cook: China has “higher willingness” to embrace mobile payments

China is outpacing the US and Europe in the development of mobile payment technology, according to Apple CEO Tim Cook. “People in the US and Europe get used to credit cards, and merchants in the US are very slow to adopt new terminals that make mobile payment possible,” Cook said during the China Development Forum in Beijing, according to China Daily. “In China, because of the huge number of small businesses, there is a higher willingness to embrace changes.”

  • Willam Hugh Murray, CISSP

    I am probably not the only one concerned that our regulation, activism, and native conservatism are driving innovation and its benefits to other places. It will be ironic if, like high-speed rail, the benefits of self-driving cars, hyper-loop, drones, and yes, mobile payments, take as long to come to the US as contactless EMV and high-speed broad-band.