How mobile payments impact people’s lives in China

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Mainland China has become the world’s largest and fastest-growing market for proximity mobile payments. People in China are now comfortable paying with their mobile phones rather than with cash.

But some experts warn the public to be concerned about the security of these online payments, especially about how it can be used for personal data collection. In order to ensure currency stabilization, the Central Bank plans to take more action in the e-payment industry that may limit the development of online payments in China.

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If you're concerned about your personal info just don't use internet, everything is online, nothing is protected.

KaioMichiru

Not only in Beijing or Shanghai, almost everywhere in China.

anniezhang

Hong Kong also send bank accounts information to abroad without asking the client. I live in europe and the tax company was asking why I got a bank account in Hong Kong. As I opened my Hong Kong bank account with my hong kong ID, they should have never given that information to the country in europe where I live in, thats a violation of my privacy.

sophonblock

Even 3rd world countries and developing countries like India, Pakistan are having Paytm, PayPal etc, I guess this is a sign that the world is finally heading into a right direction.

shashanknayak