Aug 18, 2018

Baidu, Alibaba, and Tencent: The Rise of China’s Tech Giants

Posted by in category: futurism

Home to both Tmall (B2C) and Taobao (C2C)—China’s top online marketplaces—Alibaba has taken its legacy worldwide with foreign-facing AliExpress. But the real treasure trove of real-world data lies in Alipay, Alibaba’s mobile payments platform.

While mobile payments make up less than one percent of overall in-store transaction volume in the US, they are almost indispensable in China.

Pedestrians pay street-side fruit vendors using QR codes. Charitable givers use Alipay or Wechat Wallet when donating to relief funds or directly to affected families. And at one Hangzhou-based KFC, Alipay debuted the concept of paying with your face.

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