Na­tion tops in dig­i­tal pay­ment adop­tion

China Daily (Canada) - - LIFE - By MENGJING mengjing@chi­nadaily.com.cn

China has the high­est adop­tion rate in the world for tech­nol­ogy-en­abled pay­ment sys­tems, ac­cord­ing to a re­port re­leased onWed­nes­day.

The re­port, from the mar­ket re­search firm Nielsen, is based on a sur­vey of 13,000 re­spon­dents in 26 coun­tries.

The sur­vey showed that 86 per­cent of Chi­nese re­spon­dents said they paid for on­line pur­chases dur­ing the past six months via dig­i­tal pay­ment sys­tems com­pared with a global av­er­age of just 43 per­cent.

“Chi­nese con­sumers have more pay­ment choices for prod­ucts and ser­vices than ever while dig­i­tal pay­ments will con­tinue to win over more Chi­nese con­sumers due to its con­ve­nient na­ture,” said Kiki Fan, man­ag­ing di­rec­tor of Nielsen China.

The in­creas­ingly pop­u­lar pay­ment method is part of the rapidly evolv­ing pur­chas­ing be­hav­ior of Chi­nese con­sumers.

About 98 per­cent of the re­spon­dents in China, the world’s largest e-com­merce mar­ket, said they had made pur­chases on­line.

The ma­jor­ity of them still make on­line pur­chases via com­put­ers, but the num­ber of those who use mo­bile devices to make pur­chases is grow­ing fast and is sig­nif­i­cantly higher than the av­er­age in other sur­veyed coun­tries.

At 71 per­cent,

food-re­lated busi­nesses topped the list of pur­chases made via smart­phones while event ticket pur­chases stood at 51 per­cent.

The ris­ing use of dig­i­tal pay­ments has at­tracted nu­mer­ous play­ers to the Chi­nese mar­ket.

Ap­ple Inc launched its con­tact­less pay­ment sys­tem Ap­ple Pay in the Chi­nese main­land last month. It al­lows users of the iPhone 6 or more ad­vanced ver­sions, cer­tain iPads and Ap­ple Watches to pay by their devices in brick­sand-mor­tar stores.

The newser­vice im­me­di­ately be­came a hit.

Ap­ple’s ri­val Sam­sung Elec­tron­ics Co Ltd is ex­pected to bring its own mo­bile pay­ment ser­vice to China in midMarch.

China’s In­ter­net gi­ants Alibaba Group Hold­ing Ltd and Ten­cent Hold­ings Ltd have al­ready taken about 90 per­cent of the mo­bile pay­ment mar­ket, but in­dus­try ob­servers said the com­pe­ti­tion is just about to start.

Kevin Dal­las, chief prod­uct of­fi­cer at pay­ment-tech­nol­ogy provider World­pay, a ma­jor pay­ment pro­cess­ing com­pany listed in Lon­don, said that with more young peo­ple be­com­ing smart­phone users in China, only time can tell which com­pany will be the win­ner of the mo­bile pay­ment mar­ket.

“The only sure thing is that the mar­ket is go­ing to be big­ger and big­ger and the com­pe­ti­tion will be fiercer and fiercer,” he said.

JIN SILIU / FOR CHINA DAILY

A con­sumer pays via a dig­i­tal pay­ment sys­tem in a su­per­maket in Wuhan, cap­i­tal of Hubei prov­ince.

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