76 percent of Chinese smartphone users made a mobile point of sale purchase in 2017, compared to 25 percent in the U.S.; China’s mobile payments dominate the rest of the world as they have almost gone from using cash to using mobile in the last few years; there are a number of lessons the rest of the world can take from China’s mobile payments market; get merchants to buy in by using ideas like tying loyalty rewards and payments, embrace the mobile platform and the potential it has; while mobile based payments will take time to catch on in the U.S. banks have already started thinking of how to best utilize different platforms. Source.
