Mobile payment is more and more used and popular in China, and cashless transactions are becoming a reality and normal.
Chinese Pinyin: Yí Dòng Zhī Fù
Mandarin Chinese: 移动支付
Similar Chinese Words:
手机支付 （Shǒu Jī Zhī Fù）、 支付宝支付（Zhī Fù Bǎo Zhī Fù）、 微信支付（Wēi Xìn Zhī Fù）
What is it?
Mobile Payment, also known as pay with mobile phone, is a service that allows users to pay for goods or services they consume using their mobile terminals (usually the cell phone).
What it means in China / to Chinese People?
In China, mobile payments mainly refers to Alipay or WeChat payment (or any other similars). After your phone connected to the network, you can use mobile phone to pay online / offline, transfer money to seller or friends, and completed the circulation and exchange of funds with others.
In short, it means just open one App (usually WeChat or Alipay) on your phone, click once or twice, confirm your identity with either fingerprint or facial recognition, then finish the payment or receiving the money someone else pays you. It is not necessary to any login to any bank software, no computer required, no signature must-have. Only a mobile phone, network, and a few seconds, all things done!
In China, the most popular mobile payment method that uses the most is Alipay or WeChat payment. As of the end of 2017, at least 520 million users in China have been using Alipay or WeChat to conduct various daily mobile payments including online shopping, offline consumption, restaurant payment, micro-payment, living payment, renting utilities, booking Recharge, tourism spending and other types of urban living services, covering almost all types of Chinese daily consumer spending, the popularity is very high. Among them, more than 78% of the population in China use mobile payments every day. Such mobile payment service is quite simple and much more convenient, without cash carried, reducing the trouble for small changes, reducing the risk of theft, and also can enjoy a variety of mobile payment promotions and cost deduction benefits in daily.