 01-Apr-18, Forbes 

When card payment was first introduced in the US in 1946, ensuring consumers could use card payments while in motion emerged as a key driver of the expansion of card networks across communities, and eventually borders. Now this same tactic is being replicated as mobile wallets go global. And, as is often the case, Chinese digital consumers are playing a starring role.

Image: Shiho Fukada / Bloomberg

Players such as Alipay and WeChat, which offer Chinese consumers lifestyle-driven apps with commerce capabilities, are powering many of these transactions in China and now abroad. These Chinese wallets are moving west, as the spending power of the country’s residents grows and the government allows consumers to travel to more nations.

Thus far, Chinese wallets have performed best in markets where there is a large Chinese influence, whether that be in terms of expatriates or regular Chinese visitors.

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 Financial Services insights