China’s Alipay and WeChat Pay : Reaching Rural Users

Chinese information technology conglomerates Alibaba and Tencent own or operate dozens of competing online businesses, and yet, their affiliate mobile wallets stand out for how they have fundamentally influenced everyday living in China’s cities. A...

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Bibliographic Details
Main Authors:	Aveni, Tyler, Roest, Joep
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2018
Subjects:	RURAL FINANCE MOBILE BANKING E-COMMERCE ACCESS TO FINANCE FINANCIAL SERVICES INTERNET
Online Access:	http://documents.worldbank.org/curated/en/451921533193590101/China-s-Alipay-and-WeChat-Pay-reaching-rural-users http://hdl.handle.net/10986/30112

id	okr-10986-30112
recordtype	oai_dc
spelling	okr-10986-301122021-05-25T10:54:40Z China’s Alipay and WeChat Pay : Reaching Rural Users Aveni, Tyler Roest, Joep RURAL FINANCE MOBILE BANKING E-COMMERCE ACCESS TO FINANCE FINANCIAL SERVICES INTERNET Chinese information technology conglomerates Alibaba and Tencent own or operate dozens of competing online businesses, and yet, their affiliate mobile wallets stand out for how they have fundamentally influenced everyday living in China’s cities. Alibaba through its dominance in e-commerce and Tencent through its mobile social media and messaging platforms (WeChat and QQ) connect mass-market audiences with their respective wallet products of Alipay and WeChat Pay. Although these services are the product of unique market conditions, they offer many learning opportunities. Perhaps most extraordinary has been the companies’ ability to build trust with users. Tencent and Ant Financial, Alibaba’s financial affiliate, are redefining the relationship users have with finance. Finance is becoming simpler, and it is also remarkably more social in nature. This holds great promise for advancing rural financial inclusion in China. However, challenges in serving last-mile clients remain. 2018-08-02T16:57:44Z 2018-08-02T16:57:44Z 2017-12 Brief http://documents.worldbank.org/curated/en/451921533193590101/China-s-Alipay-and-WeChat-Pay-reaching-rural-users http://hdl.handle.net/10986/30112 English CGAP Brief; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Brief East Asia and Pacific China
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	RURAL FINANCE MOBILE BANKING E-COMMERCE ACCESS TO FINANCE FINANCIAL SERVICES INTERNET
spellingShingle	RURAL FINANCE MOBILE BANKING E-COMMERCE ACCESS TO FINANCE FINANCIAL SERVICES INTERNET Aveni, Tyler Roest, Joep China’s Alipay and WeChat Pay : Reaching Rural Users
geographic_facet	East Asia and Pacific China
relation	CGAP Brief;
description	Chinese information technology conglomerates Alibaba and Tencent own or operate dozens of competing online businesses, and yet, their affiliate mobile wallets stand out for how they have fundamentally influenced everyday living in China’s cities. Alibaba through its dominance in e-commerce and Tencent through its mobile social media and messaging platforms (WeChat and QQ) connect mass-market audiences with their respective wallet products of Alipay and WeChat Pay. Although these services are the product of unique market conditions, they offer many learning opportunities. Perhaps most extraordinary has been the companies’ ability to build trust with users. Tencent and Ant Financial, Alibaba’s financial affiliate, are redefining the relationship users have with finance. Finance is becoming simpler, and it is also remarkably more social in nature. This holds great promise for advancing rural financial inclusion in China. However, challenges in serving last-mile clients remain.
format	Brief
author	Aveni, Tyler Roest, Joep
author_facet	Aveni, Tyler Roest, Joep
author_sort	Aveni, Tyler
title	China’s Alipay and WeChat Pay : Reaching Rural Users
title_short	China’s Alipay and WeChat Pay : Reaching Rural Users
title_full	China’s Alipay and WeChat Pay : Reaching Rural Users
title_fullStr	China’s Alipay and WeChat Pay : Reaching Rural Users
title_full_unstemmed	China’s Alipay and WeChat Pay : Reaching Rural Users
title_sort	china’s alipay and wechat pay : reaching rural users
publisher	World Bank, Washington, DC
publishDate	2018
url	http://documents.worldbank.org/curated/en/451921533193590101/China-s-Alipay-and-WeChat-Pay-reaching-rural-users http://hdl.handle.net/10986/30112
_version_	1764471248363978752

China’s Alipay and WeChat Pay : Reaching Rural Users

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