[rahimnathwani]

There's something else going on as well, though. People in China will now use Alipay/WeChat to pay at (for example) restaurants even though they have a bank card, and the restaurant can take bank cards. The restaurants increasingly have specialised hardware (maybe part of the same POS terminal that takes bank cards) and aren't using a smartphone to process customers' mobile payments.

[seanmcdirmid]

True, but is that anymore convenient than card tap? Also, We are seeing QR payments happening in the states also (like at Starbucks) though I honestly don't see the point.

[rahimnathwani]

I've not seen contactless card payments in China. I imagine both businesses and consumers would be worried about fraud. Quick payments with a mobile wallet (where the retailer scans a dynamic QR code on your phone) feel safer, as you need to explicitly go to that screen, and you get immediate notification on any transaction on your account.