Category: Featured News

In China nearly two thirds of all shoppers are now regularly using wallet apps to complete purchase transactions.

A new report revealed that almost two out of every three Chinese consumers use smartphone mobile payments regularly. The report was aimed at better understanding the country’s internet development. China Internet Network Information Center conducted the study and revealed the results of its data analysis.

The report showed 64.5 percent of Chinese smartphone owners use mobile payments to buy products.

That figure represents about 424.5 million people in China. These figures are as up to date as June 2016, which represents some very recent insight into this smartphone mobile payments trend. It also shows an increase in usage of 7 percent since December.

Aside from mobile wallet use, the report on the study also stated that there are 710 million internet users in China. This is nearly double the entire population of the United States. An estimated 656 million internet users connect to it via mobile devices.

The rapid growth in smartphone mobile payments is credited to the quick development of the necessary infrastructure.

The ecosystem needed in order to implement mobile wallets was adopted very swiftly in China, said the report. Recently, Samsung Pay and Apple pay have also entered the mobile payments market in China. This has given the sector’s growth a shot in the arm.

A rising number of manufacturers such as Xiaomi and Huawei launch NFC technology enabled smartphones. The result is a greater compatibility with many mobile payments tech requirements. Near field communication is the technology behind many large mobile wallets such as Apple Pay. The more consumers have NFC enabled smartphones, the greater the ability to actually use the mobile payment apps.

According to IDC research firm senior analyst, Michael Yeo, “Mobile payments have become a part of life in China now, driven by a combination of factors including e-commerce and mobile commerce, and services such as taxi-hailing apps.”

Yeo also explained that the success of smartphone mobile payments is as great as it is as the Chinese market is less influenced by legacy payment methods. Credit cards and banking cards are not as ingrained in Chinese society. Moreover, many people in the country use the internet exclusively over mobile devices.

Quick response codes may soon be a prime way to identify which products contain GMO ingredients.

A huge debate is currently raging over the use of food label QR codes to reveal the presence of GMO ingredients. Supporters think this is a quick and easy way to provide consumers with this information. Those opposed feel that it is not enough to make the presence of GMO ingredients known.

A new law has been signed by President Barack Obama that requires GMO foods to be clearly labeled.

This law tells food manufacturers that they must show when genetically modified ingredients are used in their products. It must be presented in plain writing, include an icon created by regulators, or offer information via food label QR codes. That said, healthful food advocates have said that the quick response codes place a barrier between the consumer and the labeling information they need.

Food label QR codes would require the consumer to use a smartphone or tablet to scan with a dedicated app.

The advocates would like GMO ingredients to be labeled more explicitly than that. If a QR code scan is required in order to obtain the information, not all consumers will be able to easily access it.

According to the Just Label It advocacy group chairperson, Gary Hirshberg, “It is my hope that food corporations reject high-tech gimmicks like QR codes.” Similarly, the Organic Consumers Association activist group has launched a new online petition. The petition against the labeling law that allows GMO disclosures through barcodes currently has over 500,000 signatures. That total was achieved in its first week, and the number continues to grow.

At the same time, food manufacturers insist that using food label QR codes is not for deception. There is no subterfuge in their goals, they say. Food Marketing Institute senior vice president of industry relations, Mark Baum, said “I think it’s a red herring,” of the law’s critics. That institute conducted a study which revealed that only one in five American consumers will scan quick response codes to learn about food products. That said, Baum feels that the number of scanning consumers will rise as more detailed information becomes available through this method.