The Chinese App that does everything: Wechat

[beijingwalker]

Here in Vancouver, even taxi drivers have it. Home food delivery folks have it. Its everywhere. Plus, there are these small bluetooth based readers which are very small and use mobile phone's internet connection. The advantage of card machine is that it also generates a printed receipt, if you need one.
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That means not everyone has it, Wechat is mostly for peron to person money transaction. Everyone has a phone.

 

[BringHarmony]

QR is not the future. And it's not new either.

Actually I will say a chip embedded in my watch will be the future. Almost everyone carries their watch because of the latest fitbit craze. So a watch based payment, with possibly a pin is the future.

 

[beijingwalker]

And how do you think westerners live? with a bag of pennies in their hands?
I never paid with cash in France for almost 6-7 years. (100%cashless) I just need a plastic card... in my wallet (along my IDs-Licence etc) or my Phone with NFC
So We know what is being cashless.... The Support may differ...the End result is the same.

But I can understand when a Chinese like you, coming in X or Y western country without a debit card or a way to pay with your phone ( Apple/Google/Samsung pay) may find it difficult and therefore resort to "cash".

In our Time, in any western country...you can pay With OR Without cash... you've got the choice.

So keep you assumptions aside...

ps: Before 2011, I had cash in my wallet, that i will ONLY use maybe 20-30% of the time. and that was like that for almost a decade... (2003-2011).

France? Check what this French guy has to say. I know several Frenchmen and they are so much in love with Wechat.

 

[BringHarmony]

That means not everyone has it, Wechat is mostly for peron to person money transaction. Everyone has a phone.

Yes P2P is a use-case which is particular to mobile. In practical terms, I have found it to be a corner case. Almost all the times, I have seen people paying some business the money. And ALL businesses carry a card machine, one way or the other.

When they need to pay someone non-business money, for example their friend they have apps from the bank which move money from their account to payee's account. I have found it to be rare though. May be it is more popular among school or college kids to share small amounts among each other.

 

[beijingwalker]

Yes P2P is a use-case which is particular to mobile. In practical terms, I have found it to be a corner case. Almost all the times, I have seen people paying some business the money. And ALL businesses carry a card machine, one way or the other.

When they need to pay someone non-business money, for example their friend they have apps from the bank which move money from their account to payee's account. I have found it to be rare though. May be it is more popular among school or college kids to share small amounts among each other.

We use Wechat to do everyone, you have a phone and that's it, nothing else needed. You can stick to your preference but all foreigners love wechat when in China.

 

[BringHarmony]

We use Wechat to do everyone, you have a phone and that's it, nothing else needed. You can stick to your preference but all foreigners love wechat when in China.

Well, if I were to visit a country I will certainly like to try out what locals do, won't I? Its part of experience.

 

[beijingwalker]

Well, if I were to visit a country I will certainly like to try out what locals do, won't I? Its part of experience.

Good, you stick to your card way and we phone way. both happy. LOL..

 

[BringHarmony]

Good, you stick to your card way and we phone way. both happy. LOL..

Oh we will be most probably moving 'the watch way' for small payments. No need to take out card or phone.

 

[beijingwalker]

Oh we will be most probably moving 'the watch way' for small payments. No need to take out card or phone.

Most Chinese don't wear watches, a phone is everything.

 

[BringHarmony]

Most Chinese don't wear watches, a phone is everything.

Watches are coming back here in popularity due to fitbit and other health tracker craze.

 

[beijingwalker]

Watches are coming back here in popularity due to fitbit and other health tracker craze.

Maybe not in your area, but Chinese online payment system is available even in Canada.

WeChat Pay expanding into the US

Wechat and Alipay now almost expand into all major countries and markets. The future is coming.

 

[BringHarmony]

The future is coming.

I highly doubt QR code is the future or wechat is the future. Mastercard and Visa and deeply entrenched in banking systems here in Canada and down south in the US. Actually, lately, there have been too many 'payment' companies. The market can have only one or two such payment options before it gets saturated.

Besides, one reason why people use credit cards here is that it builds your credit score and credit history. So, when a young student opens their first independent bank account, they also get a credit card to build their credit history by making small payments using it.

 

[beijingwalker]

one reason why people use credit cards here is that it builds your credit score and credit history. So, when a young student opens their first independent bank account, they also get a credit card to build their credit history by making small payments using it.

Same with Wechat and Alipay, of course they are tied to your bank cards.

 

[Hamartia Antidote]

Actually I will say a chip embedded in my watch will be the future. Almost everyone carries their watch because of the latest fitbit craze. So a watch based payment, with possibly a pin is the future.

Already happening.

 

[Taskforce]

This is just China version of Apple Pay. Why are people acting like China invented the wheel?