Tencent and Alibaba’s mobile payment war shows how far China is ahead of the US

移动互联 2018-06-16 阅读原文

The Chinese tech giants are dropping major cash to rise to the top in the country’s mobile payment battle.

The scale:In 2017,
$15.4 trillion

worth of mobile payments were handled by third-party platforms in China—more than 40 times the amount processed in the US. Alipay, owned by Alibaba
, handled nearly 54 percent of those payments, and WeChat Pay, owned by Tencent, processed around 39 percent.

The cost:Holding onto market share cost Ant Financial, an arm of Alibaba, a pretty penny. The discounts and rebates it provided to keep people on Alipay contributed to an uncommon quarterly loss
. Despite such efforts, though, WeChat Pay is gaining ground—it’s been cutting more and more into AliPay’s customer base each year.

Why it matters:It’s all about the data. Sure, transaction fees are nice, but market dominance over mobile payments mean companies can amass data on the largest number of people possible. That can then be used to pitch consumers other products, like loans or investment funds.

America is lagging:The US is dragging its feet on mobile payment adoption. Plenty of people’s smartphones have the capability—think Apple and Google Pay—but not many stores or services have gotten with the program. Starbucks stands out as an exception, accounting for around 40 percent
of all mobile payments in America.

Technology Review

责编内容by:Technology Review阅读原文】。感谢您的支持!

您可能感兴趣的

深度资讯 | 投靠腾讯、卖掉核心网游,盛大游戏回归A股依然不容乐观... 文 | 36氪每日商业精选 投靠腾讯、卖掉核心网游,盛大游戏回归A股依然不容乐观 9月12日,A股上市公司世纪华通公告称,拟通过发行股份及支付现金方式购买盛跃网络科技(上海)有限公司100%股权,交易预估价为298亿元。这笔交易意味着盛大游戏离A股市场又近一步。盛大游戏曾经通过《热血传奇》和...
新华联与阿里合作投资新零售 出资8亿占股5.34%... 6月13日,新华联控股宣布近日与阿里巴巴、云锋投资、红树林创业、民生资本、余杭产业基金等企业共同设立杭州瀚云新领股权合伙企业,全面布局投资新零售。 杭州瀚云新领股权合伙企业总投资150亿元,第一期投资80亿元。新华联投资8亿元,占股5.34%;阿里巴巴投资15亿元。 目前,杭州瀚云新领股权合...
裁员潮,互联网寒冬的至暗时刻 欢迎关注“创事记”的微信订阅号:sinachuangshiji 文/狐狸安 来源:朱思码记 中国互联网人的苦日子,要来了。 2018年6月以来,全国上百家P2P平台接连爆雷,裁员潮在互金领域抢先发生。 2018年7月20日,《国税地税征管体制改革方案》正式确定了社保费用...
谁领风骚?BAT掌门人同台激辩人工智能... 国内能够集齐BAT掌门人的会议并不多,9月17日在上海召开的2018世界智能人工大会算一个。 纵观以往各类会议,三家公司掌门人演讲风格大相径庭。百度掌门人李彦宏总是在告诉大家无需过度担心AI发展,有理有据感情充沛;腾讯掌门人马化腾是技术派,乐于分享公司案例和个人思考,干货满满;阿里巴巴掌门人马云...
Alibaba An AWS Threat? Not Quite A recent Seeking Alpha article proposes the theory that Alibaba could threaten Amazon’s AWS cloud services. Amazon has been my best investment by fa...