China's Great Leap Into Wallet-Free Living
No cash? No problem. A trip to Shenzhen, China highlights how the explosive growth of mobile payments is driving a wallet-free society. WSJ's Jason Bellini reports. Wall Street Journal (wsj.com) video above published Jan 18, 2018.
China is living the future of mobile pay right now | CNBC.com 8 Oct 2017: "Mainland Chinese stores and services are increasingly centered around mobile pay apps like WeChat Pay and Alipay. Chinese mobile payment volume more than doubled to $5 trillion in 2016, according to Analysys data cited by Hillhouse Capital. Mobile pay is growing so rapidly in mainland China that as a foreigner, I sometimes found it difficult to complete basic transactions without it. The dominance of mobile transactions lends itself to greater data collection by the Chinese government."
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3lL7bkLCXeohPjp-_8Yjcbbx8PtzhdS-0_JbLg0tbEwU37nSxqoNaHlqNhJ-e7L0_U1EnFGHoO2gPgpbUCiiaGexUj22r-KHNVW6JVQzE4JBXxePc_rSk67jrau_xARTdNoTW4NdD_pPt/s1600/MobileUsersChina.PNG) |
Mobile Internet Users in China |
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh17t0RVIFSpcWlyvSCM6PcdNh6kc6uKYpQsgIBqg80d6tbQ81trTBTuy7-zwZ8_by_BAXJOaqBDzxjXeMXJ9y9vsPH5CiAIPsNkcUDAj9rwVghP786WASMcZ_8CR9Q5MgEZBjz-OS70yCo/s1600/ChinaGDP.PNG) |
China's GDP 1960-2016 |
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjZpEmQ88w_IfSEwYAKkA_wDusmcFrRrcjsNlb7a70PjWC5QBjGcBXYttBohLR3oJwh3rYOxzJj2XMkz4CJLYr2eHkgLajFA4ONw9hFf0HZtxcMe2pgqd92ZSQlaFPCHWSaySPgK6rOfaBF/s1600/ChinaMobilePaymentMarket.PNG) |
China's Mobile-Payment Market 2017 |
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgS9UoEwF6ivDoBzykwP84-xcJ8VkpTdjYDkLQzn6qcmRejnbfXTNY8RfjXJ6LNSGPaX-E2NnqPlCZzrvlZQpbGrp8q8SkbqdJHV5C-rZDEf2QqllnwL0OqImjtDD2_xlrZFGwHgaDUvDED/s1600/MobilePaymentPlatforms.PNG) |
Leading Mobile Payment Platforms in China: WeChat Pay, Alipay |