Deal­ing with dif­fer­ences

ChinAfrica - - Cover Story -

In China, mo­bile pay­ment gained mo­men­tum fol­low­ing the use of so­cial me­dia apps like Wechat to send hong­bao (gifts of red en­velopes with money) dur­ing the Chi­nese Spring Fes­ti­val. Send­ing hong­bao was al­ready a com­mon prac­tice, so once it be­came dig­i­tal­ized, the cus­tom spread to send­ing e-gifts to friends and fam­ily in a com­pli­men­tary fash­ion.

While that ap­proach worked in China, the con­cept may not carry over to other coun­tries un­fa­mil­iar with it. Chi­nese mo­bile pay­ment com­pa­nies will need to deal with dif­fer­ent eco­nomic and cul­tural en­vi­ron­ments over­seas. Ac­cord­ing to Ant Fi­nan­cial, the com­pany is ad­dress­ing the chal­lenge by work­ing to­gether with lo­cal part­ners.

“Dif­fer­ent mar­kets have dif­fer­ent en­vi­ron­ments and

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