Social payments in China now reach almost $3 trillion, according to a United Nations report released Wednesday.
China has been a world leader in mobile and social payments while the U.S. and Europe have been slow to adopt them. Payments on messaging and e-commerce platforms like WeChat and Alibaba are set to increase China’s GDP by $236 billion by 2025.
Now, the United Nations’ Better Than Cash Alliance is hoping other countries can emulate China’s models as much as possible, if only to unlock economic opportunities for people and small businesses the way China has.
“While China is a very specific country study, it does give us insight into some changes in behavior starting to happen across the global consumer segment, specifically regarding how people make payments,” said Camilo Tellez, head of research for Better Than Cash Alliance. “This ecosystem that has grown in China in an insular way has shown how we can take advantage of these social platforms and really use them to reach economics of scale.”
-
‘Makes us more nimble’: Why DTC shaving brand Harry’s has bolstered in-house capabilities, is focused on organic social content
Harry’s, founded in 2012, has had an in-house creative team since its inception.
-
‘Advertising has taken a hit’: The crypto crisis has created an advertising vacuum
Don’t expect to see many crypto ads for a minute. The companies behind them are trimming down costs wherever they can, and that includes advertising.
-
‘My title was non-negotiable’: A Q&A with Cathy Hackl, chief metaverse officer at Journey
Hackl's most convincing qualification for the role might be her bona fide connection to metaverse users: she’s the mother of three metaverse-native kids, including a 10-year-old who runs his own Roblox business.
-
SponsoredWhy the caliber of content is paramount for advertisers
Agata Brodniewska, brand safety manager, Dailymotion Content is king when attracting consumers but is equally essential when courting advertisers. While both stakeholders want many of the same things, they most notably want relevant content they can count on to deliver an accurate and honest message without confusion or misinformation. This is especially important for advertisers […]
-
‘If we can pave the way’: How OKCupid is using its app and its ads to fight for abortion rights
The online dating platform yesterday sent in-app notifications to all U.S. users encouraging them to donate to Planned Parenthood.
-
Retail brands rush to cover abortion care, but not all of their workers may be covered
What’s not immediately clear from some of these post Roe announcements is how many employees will be covered by these new policies.
