The upsurge in China’s online payment is spawning opportunities in multiple markets
China has seen a rapid growth in online payment. Up 13% from 2017, the market now boasts a 600 million users base which could well continue to expand this year since cross-border e-commerce is thriving. China is ahead of the curve in terms of online payment adoption than probably the rest of the world. The scan-to-pay atmosphere created by duopoly, Alipay and WeChat, together with the penetration of smartphones, had provided the whole China with variable solutions regarding purchasing and ordinary transactions. It has also flourished and generalized traditional banking business, such as credit card and financial investment.