WeChat Pay has become the main cashless payment method for daily small transactions in China.
Based on WeChat Pay data and an online survey, Ipsos observed user behaviour and consumer use cases of the ‘cashless lifestyle’.
Key findings from the report:
- 40% of people regularly carry less than 100 RMB (£11.60) in cash
- 74% of people said they can live with only 100 RMB in cash for more than a month
- Mobile payments have a higher adoption rate in Eastern and Northern China than other parts of the country
- 84% of people feel ‘calm’ if they don’t carry cash
- Fast food chains, convenience stores, cinemas and taxis are the most popular channels for mobile payment
KEYS: STANDING OUT FROM THE CROWD, Making Your Mark in the Moments That Matter [Webinar recording]
This session sees us explore how we can cut through the noise and ensure the product, service or experience we are offering stands out at those moments that really matter. Our experts will be sharing our latest analysis of how consumers react in different contexts - and reflecting on the implications.