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Recently, Kim Ye-won, a Korean doctor of law, expressed his views on China's travel payment methods in a program, which sparked heated discussions among netizens.
When asked, "What is the key to the last mile of China's quest to become a world tourism power?" Kim Ye-won said, "I want to swipe my credit card, but I can't recognize it, because South Korea is a place where you can buy a bottle of mineral water, so I think I must improve the payment of taxis, cash transactions, or electronic consumption." ”
Jin Yiyuan also added that I can't call for an online taxi, I want real-name authentication, and at what point I suddenly pop up what credit card you want to bind, but now if foreigners want to apply for a Chinese bank card temporarily, it is not possible to save some money, that is, you must have a residence visa in China to apply for a Chinese bank card.
This remark sparked heated discussions among netizens. Some people think: "For Chinese people who have fully adapted to electronic payment, it is normal to bring a mobile phone to travel around the country." Some netizens also commented: "I think it's much easier to brush my face than to swipe my card, I will really worry about losing it if I have a bank card in my pocket anyway." ”
China's mobile payment industry has grown rapidly in the past few years and has become one of the largest mobile payment markets in the world. Mobile payment platforms such as Alipay and WeChat Pay have become indispensable payment tools in people's daily lives in China, covering a variety of consumption scenarios, including online shopping, offline shopping malls, dining and entertainment, etc. The popularity of mobile payments has also promoted the development of a cashless society, changing people's consumption habits and payment methods. At the same time, China's mobile payment industry is also constantly innovating, introducing new technologies such as face recognition and voiceprint payment to provide users with a more convenient and secure payment experience.
- Mobile payment has become the main payment method
Mobile payment refers to the use of mobile phones and other electronic products for electronic money payment, which effectively combines the Internet, terminal equipment and financial institutions to form a new type of payment system. Mobile payment is an in-depth expansion of traditional financial services, which has played a strong role in promoting the rapid development of the mass consumption industry, and has a wide range of market application space.
According to the data of the "2021 Global Payment Report" released by Worldplay, mobile payment accounts for 50% of all payment methods in mainland China, becoming the most chosen payment method for mainland consumers.
-- China is the world's largest digital payment market
In recent years, the global mobile payment market has shown a rapid growth trend, but there are large differences in the development level of mobile payment in different countries. According to the "FinTech Report 2021 – Digital Payments" released by Statista, the world's largest digital payment market in 2020 is China, with a digital payment scale of US$2,496.5 billion, accounting for 45.6%, followed by the United States, with a digital payment market size of US$1,035.4 billion, accounting for 18.915%, and the European digital payment market in 2020 is US$919.8 billion, accounting for 16.80%.
Dong Yun, deputy director of the Fintech Research Office of the Institute of Finance and Banking, Chinese Academy of Social Sciences, pointed out that digital technology has comprehensively changed the mainland's financial industry. Through continuous efforts, China's fintech has achieved rapid growth, ranking first in the world. Among them, the payment and clearing industry represented by mobile payment and digital financial infrastructure have made remarkable achievements in innovation and development. According to the Global Fintech Infrastructure Index released by the Institute of Finance and Economics of the Chinese Academy of Social Sciences, China's Fintech Infrastructure Index is 72.58, ranking third in the world, ahead of other developed economies except the United States and Singapore.
According to the "2022 Mobile Payment Security Survey Report" released by China UnionPay, 77.5% of mobile phone users use mobile payment every day. Mobile payment security is an important part of the healthy development of the digital economy. Industry insiders said that while the popularity of mobile payment has brought convenience, it has also brought many problems involving personal information and property security. Therefore, mobile payment security requires governments, businesses, and consumers to work together to build a strong "firewall" to prevent fraud.
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For more research and analysis of this industry, please refer to the "Market Prospect and Investment Strategic Planning Analysis Report of China's Mobile Payment Industry" by Qianzhan Industry Research Institute
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