ã€Global Network Technology Report】 "Nihon Keizai Shimbun" March 27 article, the original title: China's mobile phone payment is unstoppable WeChat into the leader article said that now in China's streets, almost all shops can see the figure paid by mobile phones . In 2016, China’s overall smartphone payment doubled over the previous year, exceeding 600 trillion yen (approximately RMB 37.1 trillion). Not only does life with wallets and cash donations become a reality in China. “Once you know that mobile payment is so convenient, you will never be able to go back. China does not need to bring cash anymore.†In a vegetable market in Guangzhou, Mr. Huang Aunt, a 40-year-old housewife who came to buy food, was in front of the shop. Holding a mobile phone in front of me proudly. Indeed, China's mobile payment has become overwhelming. Taking a taxi and paying with a mobile phone while dining at a restaurant is a matter of course. In the food market, small restaurants on the streets, hair salons, retail outlets, and small tobacco stalls in rural areas, even in remote locations, mobile payment has begun to become more common. To promote this trend is the development of the "WeChat" Tencent. WeChat has become an indispensable means of communication for Chinese people. The number of monthly active users is close to 900 million. In the last 1 to 2 years, Tencent successfully led a large user base that has been used to WeChat to its own mobile payment. Tencent's approach is actually very simple, that is to add payment functions for WeChat application software (APP). At the same time, people’s sea tactics are used to affix a mobile phone to the QR code at the checkout counter in all stores. Customer usage is also very simple. After selecting a good product, use a mobile phone to scan the code, and then enter the purchase amount. It takes only a few seconds to complete the payment. The leader in mobile payment in China was originally the Alibaba Group. It has added a lot of users to its "Alipay" service for payment on its own e-commerce website. Tencent has used the WeChat user of nearly 900 million people to start a comprehensive attack on the mobile payment business from 2016. With "WeChat Payment" as the main force, as of the end of September 2016, it has received 830 million paying users, easily exceeding Alipay with only 400 million users. However, because Alipay is mainly for online shopping, the transaction amount is often relatively large. Therefore, Tencent is not as good as Alibaba. However, Alibaba’s 79% market share in 2014 dropped to 50% in 2015. In contrast, Tencent received a 38% market share and is catching up.
