What if you could pay for everything on your smartphone through your social media app? And as you pay, you could submit a review, recommend the service to friends, and earn rewards. What if that same app could be used to book hospital appointments, apply for visas, book flights and work seamlessly when you are traveling abroad?
In China, that is not the future, but the here and now, and it is called We ChatPay.
Currently most of the restaurants and cafes in urban areas of the country accept WeChat Pay for everything on the menu.
All you need to do is to tap on the phone, scan the codes and make the payment in a second or two.
Applications like WeChat are also helping transform city services like making appointment at hospitals and sending mails from the post office.
Even small vendors in open markets can buy into the technological revolution that is going on in the country.
By cooperating with a third-party finance company, vendors in the markets are able to offer the mobile payment through the QR Codes hanging above the scales at their stalls.
That means shoppers do not have to carry cash around; they just need to bring the phones around.
However, the mobile payment industry is highly competitive in the country. Big fishes like WeChat Pay and Alibaba's Alipay plus many smaller rivals are all competing for market share.
And the market for mobile payment has also spawned a whole industry of third-party companies who are bringing more and more services to mobile payment platforms.
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