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This excerpt, from IT journalist Makino Takefumi's newsletter, explains the widespread adoption of Alipay and WeChat Payin China. It argues that while factors like a history of counterfeit currency may have played a minor role, the primary driver of their popularity is the unparalleled convenience they offer, allowing users to access a vast array of daily life services like transportation, utilities, and shopping directly within the payment apps. The author highlights the contrast with the current state of cashless payment adoption and functionality in Japan, suggesting China's approach of integrating numerous services into a single platform is key to its success.
By Takefumi MakinoThis excerpt, from IT journalist Makino Takefumi's newsletter, explains the widespread adoption of Alipay and WeChat Payin China. It argues that while factors like a history of counterfeit currency may have played a minor role, the primary driver of their popularity is the unparalleled convenience they offer, allowing users to access a vast array of daily life services like transportation, utilities, and shopping directly within the payment apps. The author highlights the contrast with the current state of cashless payment adoption and functionality in Japan, suggesting China's approach of integrating numerous services into a single platform is key to its success.