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
New Brand-Building Direction for Insurance Industry
In face of this fast-information-spreading world and fast development of different channels, insurance companies should make more effort to build distinctive brand image in a comprehensive way. To strengthen delivered brand image, insurance companies should pay more attention to the moment that customers interact with insurance companies.
Bank 3.0: A Battlefield of Digital Finance in Taiwan
Massive layoffs are happening around the world in the new era of Bank 3.0. Thanks to the internet and portable technology, people are able to get access to the financial services anytime and everywhere, and they no longer need to rely on the counter service and ATM machine of bank.