Tag: alipay

Mobile commerce continues its aggressive expansion in China

China is leading the way in mobile commerce growth

China is becoming more aggressive when it comes to mobile commerce. Until very recently, the country has relied heavily on cash rather than other forms of commerce. Many shoppers throughout the country had preferred paying in cash because they considered it more secure and convenient. As smartphone penetration grows, however, more consumers are beginning to use their mobile devices to shop for and purchase products. Large companies are beginning to take advantage of this, offering consumers new services that allow them to participate in mobile commerce.

WeChat is finding success by encouraging consumers to use its mobile payments service

WeChat is one of the companies looking to bring consumers into the mobile commerce field. WeChat is China’s largest messaging application and social network and the company launched an ambitious campaign last year to highlight its new payments service. During Chinese New Year last year, some 400 million people sent hongbao, traditional gifts containing money sent during the holiday, to their friends and families. This year, however, more than 1 billion digital hongbao were sent through WeChat’s service.

Consumers are finding it easier to shop for and purchase products with their mobile devices

China Mobile Commerce Booming GrowthConsumers are becoming more comfortable with the concept of mobile commerce, using services like Alipay to purchase products that they are interested in. The companies and retailers behind these services are quickly expanding, looking to find every greater degrees of success in the mobile commerce market. Some of these companies, such as Alibaba, are also investing in foreign mobile commerce firms, hoping to establish a foothold in new markets and encourage the further growth of the mobile commerce field.

Young consumers are more likely to participate in mobile commerce

While many consumers still prefer to pay for products with cash, young consumers are embracing mobile commerce quite aggressively. These consumers have been exposed to technology from a young age, making them more comfortable with digital services. Older consumers are also embracing mobile commerce, but at a slower pace. As new services become available, more consumers are expected to become involved in mobile shopping.

Apple may bring its mobile payments service to China

China is becoming an attractive mobile payments market for Apple

Apple is looking to bring its new mobile payments service to China, which has become a very powerful mobile shopping market. The company has officially launched Apple Pay in the United Kingdom, hoping for the country to be the first success in its gradual progression into other countries with its mobile payments plans. Apple has been considering breaking into the Chinese market since May of this year, when the company began speaking to Alibaba and several Chinese banks.

Apple may soon begin to compete with Alibaba

Earlier this year, it appeared that Apple had intended to partner with Alipay, Alibaba’s mobile payments unit. No official announcement have been made to this effect, however, and Apple may opt to partner directly with banks instead, which may be quite complicated. Alibaba will be a formidable competitor for Apple, however, as the company has already established a very powerful position in the Chinese’s financial sector. Alibaba is one of the largest retailers in the country and has beaten out many others when it comes to mobile payments.

Chinese consumers have a great deal of love for mobile payments

Mobile Payments - Apple and ChinaMobile payments have become quite important for consumers in China. Many consumers have begun to rely on their mobile devices to get their shopping done, as this represents a more convenient way to purchase products. A growing number of retailers in China are beginning to support mobile payments in their physical stores, which is something that many consumers have been demanding for some time.

Competition in China expected to grow in coming years

Competition in China’s mobile payments space is relatively low, largely due to companies like Alibaba establishing a massive market share. This is expected to change in the coming years, however, as more companies begin showing interest in the mobile market. Apple, in particular, believes that China could be a very prominent opportunity for its mobile payments endeavors. Apple has already expressed interest in the Chinese market, but has yet to unveil any specific plans to bring Apple Pay to the country.