For Chinese consumers, Ant Group app is part of the fabric of life

Alipay (left) and WeChat (right) QR payment codes are displayed at a market in Shanghai. The Chinese consumer buy-in is so complete that many merchants today only grudgingly accept cash. — AFP

SHANGHAI: The most essential item in aircraft engineer Tao Rui’s possession during a recent outing in Shanghai was the Alipay smartphone app from Ant Group, a company little known outside China until it unfurled plans for the biggest IPO in history.

As Tao and a friend strolled the city at the weekend, he used Alipay to buy a cup of milk tea, a deep-fried octopus snack and a box of candy. He also used it to play a basketball game at an arcade, make a small donation to a street musician, and produce a health code signalling he was coronavirus-free before entering a Buddhist temple.