
The U.S. and Europe often look to China as an example of what a mobile or social payments ecosystem could look like at scale. Consumers and businesses alike online and in-person prefer using WeChat Pay, the mobile payments function of the popular messaging app, or the PayPal-like Alipay to cash — because it’s so easy. People like their payments done easily and quickly with money passing directly from the customer to the merchant or the other way around. That’s what WeChat and Alipay, the dominant forces in mobile payments, offer — and not just at Starbucks; people use mobile payments to pay bills, for transportation, movie tickets, even karaoke.
Now, the Chinese central bank is stepping in so it can monitor payments, without asking permission from the processors, to keep an eye out for money laundering and other illicit transactions.
Read the full story on tearsheet.co
More in Marketing

Zero-click search is changing how small brands show up online — and spend
To appease the AI powers that be, brands are prioritizing things like blogs, brand content and landing pages.

More creators, less money: Creator economy expansion leaves mid-tier creators behind
As brands get pickier and budgets tighten, mid-tier creators are finding fewer deals in the booming influencer economy.

‘Still not a top tier ad platform’: Advertisers on Linda Yaccarino’s departure as CEO of X
Linda Yaccarino — the CEO who was never really in charge.