In China, QR codes are used widely by smartphone owners to pay bills and make purchases in shops and at vending machines - contributing to a $9 trillion mobile-payment market last year. That is almost 90 times the size of the U.S. mobile-payment market of $112 billion.
Mobile payments appeal in emerging markets because consumers need only a smartphone to transfer funds via QR code Silicon Valley is home to the world’s most influential consumer-tech firms, but China’s online corporate titans are way ahead in the race to build mobile-payment services in many of the world’s fastest-growing consumer markets. China’s digital-payments market, by far the world’s largest, is dominated by e-commerce giant Alibaba Group Holding Ltd. and social-media champ Tencent Holdings Ltd. Now the two are imparting money...
https://www.wsj.com/articles/alibaba-and-tencent-set-fast-pace-in-mobile-payments-race-1506072602
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