Future of Money : How China does mobile & online payments

in #cn • 7 years ago

China is promising the future of mobile & online payments. While in US, Paypal does online payments and Venmo is for mobile peer to peer money transfer. China has 2 mobile giants that can do both and used by more people. While Paypal has 200M users, this is dwarf by Wechat has 900M users and Alipay has 400M users

Wechat has 900M users
wechat numbers.png
https://www.statista.com/statistics/255778/number-of-active-wechat-messenger-accounts/
Alipay has 400M users
alipay numbers.png
https://intl.alipay.com/
Paypal has 200M users
paypal numbers.png
https://www.statista.com/statistics/218493/paypals-total-active-registered-accounts-from-2010/

Single’s day , China’s version of US Black Friday & Cyber Monday , held on Nov 11 (11/11) rakes in more money than Black Friday & Cyber Monday combined. They all use Wechat & Alipay for payments. Note Alipay is owned by Alibaba and Wechat is used by Alibaba’s rival JD.com
http://money.cnn.com/2016/11/11/technology/alibaba-by-the-numbers/index.html

Wechat & Alipay are already some of the biggest mobile wallets around. If Alibaba does adopt BITCOIN
They would conquer the world

#blockchain #cryptocurrency #money #beyondbitcoin
7 years ago in #cn by
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     7 years ago 

    Interesting. Thanks for the post.

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     7 years ago (edited)

    Some very insightful facts and astounding numbers to mull over - in going to have to add more to this post after thinking it over a little more - Fantastic Post

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     7 years ago 
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       7 years ago 

      Awesome - Thanks for sharing the follow up article - I've heard of individuals coming from nothing building up $1M WeChat accounts over the course of 8-10 years - once their accounts get that big they become national celebrities - Its an Interesting concept - getting paid to market the clothing, items by sharing pics and stories of them in action in real life - regular people - not models - modeling clothes, accessories and such - I'll try to find some of the articles I've read and share with you or add as a comment to the post

      [-]
       7 years ago 

      Yes, Wechat's social network is underrated but very powerful
      it is VIBER, FACEBOOK, FACEBOOK MESSENGER & INSTAGRAM combined and more

      https://steemit.com/cn/@rjona1/wechat-the-hidden-social-network

      [-]
       7 years ago 

      Sweet I'm checking it out right now!

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