Mobile Payments Facilitate Higher Holiday Consumption in China

October 15, 2024 10:05:00

Industry experts say China’s various mobile payment systems are facilitating higher rates of holiday consumption in the east Asian country. Although mobile money has been around for well over a decade, the technology reached the mainstream within the past couple of years. The coronavirus pandemic was instrumental in increasing the global popularity of these services because it discouraged handling physical cash.

China was quick to jump onto the bandwagon and now has some of the most dominant mobile-payment platforms in the…

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