Chinese mobile payment platforms are now used by 527m people

China’s mobile payment users hit 527 million in 2017 — ECNS — “China had a total of 527m mobile payment users at the end of last year, up by 57.8m from a year before… WeChat Pay, one of China’s major mobile payment service providers, attracted over 800m validated users by September 2017. The number of monthly offline payments was 280% higher than that from a year ago… Alipay, the online payment platform under ecommerce giant Alibaba, launched in 36 overseas destinations, benefiting hundreds of thousands of merchants. Overseas transactions surged by 306% in the last year when compared with 2016.”


WeChat opens unmanned store in Shanghai

WeChat opens its first unmanned store in Shanghai — ECNS — “Shoppers need to scan a QR code with their WeChat app to enter the store. Sensors at the exit detect the shopper’s selections and automatically charge their WeChat wallet when they go through a ‘payment door’… WeChat payment industry operations director Bai Zhenjie said it takes less than 0.1 seconds for a customer to pay a bill. He added that facial and image recognition technology may be adopted in the store in the future.”


Alipay reports mobile payments adoption stats

Mobile devices handle some 80% of Alipay’s online payments in 2017 — ECNS — “New data from Alipay show 82% of the transactions on its platform in 2017 were made through mobile devices, mostly smart phones. This ratio is said to be an all-time high… There were 520m Alipay users in China, or around 37% of the country’s population, in 2017… More than 40m small retailers across China, according to Alipay, established their own quick response codes in 2017… Bus and subway networks in more than 30 Chinese cities began allowing passengers to pay fares via Alipay through 2017.”



Chinese government to embed eIDs in SIM cards

China to introduce eIDs embedded in SIM cards — ECNS — “China is planning to embed personal identity information into SIM cards to better protect citizens’ private information, according to the country’s Ministry of Public Security (MPS)… When making transactions with SIM eIDs, citizens will no longer need to provide personal information, such as their names, address, phone number, and ID number, because online platforms will be able to verify the authenticity and validity of the eID.”



Beijing subway launches smartphone version of travel card

Beijing subway launches smartphone version of travel card — ECNS — “Starting Monday, subway travelers in the Chinese capital with NFC-enabled phones can leave their physical travel card at home and use their smartphone instead, Beijing Municipal Administration and Communications Card (BMAC) said… Beijing subway said the mobile pass function does not support iPhone because of Apple’s restrictions.”


China UnionPay rolls out QR payment solution

China UnionPay rolls out QR payment solution — ECNS — “The latest UnionPay product offers multiple payment modes with customers able to scan seller QR codes or vice versa, while transfers can be made person-to-person, facilitating payments between individuals, individuals and businesses, and among businesses. In future, cash withdrawals from ATMs via QR codes and other premium service solutions will also be available.”




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