Publication:
China’s Alipay and WeChat Pay: Reaching Rural Users

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dc.contributor.authorAveni, Tyler
dc.contributor.authorRoest, Joep
dc.date.accessioned2018-08-02T16:57:44Z
dc.date.available2018-08-02T16:57:44Z
dc.date.issued2017-12
dc.description.abstractChinese 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.en
dc.description.abstractChinese 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.es
dc.description.abstractChinese 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.fr
dc.identifierhttp://documents.worldbank.org/curated/en/451921533193590101/China-s-Alipay-and-WeChat-Pay-reaching-rural-users
dc.identifier.doi10.1596/30112
dc.identifier.urihttps://hdl.handle.net/10986/30112
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesCGAP Brief;
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectRURAL FINANCE
dc.subjectMOBILE BANKING
dc.subjectE-COMMERCE
dc.subjectACCESS TO FINANCE
dc.subjectFINANCIAL SERVICES
dc.subjectINTERNET
dc.titleChina’s Alipay and WeChat Payen
dc.titleAlipay y WeChat Payes
dc.titleChine - Alipay et WeChat Payfr
dc.title.subtitleReaching Rural Usersen
dc.title.subtitlebrindar servicio a usuarios de zonas rurales de Chinaes
dc.title.subtitleatteindre les utilisateurs rurauxfr
dc.typeBriefen
dc.typeFichefr
dc.typeResumenes
dspace.entity.typePublication
okr.crossref.titleChina’s Alipay and WeChat Pay: Reaching Rural Users
okr.date.disclosure2018-08-02
okr.doctypePublications & Research
okr.doctypePublications & Research::Brief
okr.docurlhttp://documents.worldbank.org/curated/en/451921533193590101/China-s-Alipay-and-WeChat-Pay-reaching-rural-users
okr.guid953511533195256873
okr.guid162351533194882208
okr.guid277281533194744336
okr.guid451921533193590101
okr.identifier.doi10.1596/30112
okr.identifier.doihttps://doi.org/10.1596/30112
okr.identifier.externaldocumentum090224b085e40936_1_0
okr.identifier.internaldocumentum30320501
okr.identifier.report129152
okr.importedtrueen
okr.language.supporteden
okr.language.supportedes
okr.language.supportedfr
okr.pdfurlhttp://documents.worldbank.org/curated/en/451921533193590101/pdf/129152-BRI-PUBLIC-Brief-Chinas-Alipay-and-WeChat-Pay-Dec-2017.pdfen
okr.pdfurlhttp://documents.worldbank.org/curated/en/277281533194744336/pdf/129152-BRI-PUBLIC-Brief-Chinas-Alipay-and-WeChat-Pay-Dec-2017-French.pdffr
okr.pdfurlhttp://documents.worldbank.org/curated/en/162351533194882208/pdf/129152-BRI-PUBLIC-Brief-Chinas-Alipay-and-WeChat-Pay-Dec-2017-Spanish.pdfes
okr.region.administrativeEast Asia and Pacific
okr.region.countryChina
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::Banks & Banking Reform
okr.topicFinance and Financial Sector Development::E-Finance and E-Security
okr.topicFinance and Financial Sector Development::Finance and Development
okr.topicFinance and Financial Sector Development::Financial Literacy
okr.topicFinance and Financial Sector Development::Financial Regulation & Supervision
okr.topicFinance and Financial Sector Development::Rural Finance
okr.topicInformation and Communication Technologies::ICT Applications
okr.topicInformation and Communication Technologies::Rural Information & Communications Technologies
okr.txturlhttp://documents.worldbank.org/curated/en/277281533194744336/text/129152-BRI-PUBLIC-Brief-Chinas-Alipay-and-WeChat-Pay-Dec-2017-French.txtfr
okr.txturlhttp://documents.worldbank.org/curated/en/162351533194882208/text/129152-BRI-PUBLIC-Brief-Chinas-Alipay-and-WeChat-Pay-Dec-2017-Spanish.txtes
okr.unitFin, Comp & Innov - CGAP (GFCGP)
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