A customer uses WeChat Pay to pay the bill inside a restaurant in Guangzhou, China. - Reuters
HONG KONG: Three years ago cash was still king in China – until Alipay and WeChat Pay shook up the entire ecosystem.
Today, their dominance in mobile payments for everything from taxi fares to peer-to-peer transfers have not only made them household names in a country of 1.4 billion people, but incumbent payment operators are being forced to innovate or risk being left behind.
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