In 2015, Chinese consumers made more purchases on their mobile phones than on computers. In 2016, two-thirds of Chinese digital purchases were mobile-based, according to data from Euromonitor International.
Alipay, the mobile-based payment tool from Chinese e-commerce giant Alibaba, has an estimated 520 million users, and it supports payments in 27 currencies across 30 countries. Alipay has also partnered with a number of payment providers, including Verifone and Stripe, to expand acceptance outside of China.
And as Chinese consumers travel more—they expect to take 225 million international trips in 2030—they expect to have the same payment convenience available to them wherever they go.
For example, Verifone and Alipay recently announced that Chinese travelers can pay for taxis in North America via Alipay. This means payment innovation is coming from both in and outside of North America, and an influx of Chinese travelers will only strengthen the upward trend of digital payments.