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• Admin
• 2018/3/25

China's online payment is operated in Pakistan

Norway Telecom and ant gold clothing have jointly announced that the two sides have reached a strategic partnership. The ant gold clothing will invest more than 180 million dollars to purchase TMB45% stake in Norway Telecom's subsidiary company in Pakistan. This is the first time that Chinese financial technology company has been operating in Pakistan.

The payment service said a staff member, ant payment service will be through the sharing of technology and experience, the Pakistan's largest mobile phone wallet Easypaisa upgrade build for the local version of "Alipay", to provide inclusive financial services for ordinary families in Pakistan and more Small and micro businesses.

In this regard, experts said, WeChat and Alipay to pay two mobile payment giants in the Chinese people's consumption patterns change at the same time, also welcome overseas. According to WeChat payment and ant gold clothing data, up to now, the two major payment applications have landed in nearly 40 countries and regions around the world.

"Because of access to Alipay, is equivalent to the China access consumer groups."  People in the industry believe that. Chinese market consumers through Alipay, WeChat payment and other payment services for many years of market cultivation, has been very accustomed to using mobile payment service. And Chinese consumers are a huge consumer group competing for the global business.

At the same time, the "exit benefits" on the Alipay platform, users can also search overseas destinations business information, personalized recommendation, receive preferential merchants. In addition to help shopping, dining, transportation and other living functions, Alipay also launched a real-time tax rebate function. As of now, more than 24 countries and regions can be a tax rebate to Alipay, more than 60 overseas airport access Alipay to provide various services in Europe, South Korea, Singapore 14 airports and several airports have launched instant refund to the Alipay service users shopping at the same time to the tax rebate.

While China's payment method is "going out", it is also faced with a challenge.  Wang Yue, a newly created CEO, says that there are some concerns about mobile payments abroad. Internationally, China Mobile payment is increasingly facing the contention of "western standard" represented by the international chip card and payment technology standard organization (EMVCo). For a long time, the international payment standard has been established by EMVCo, an industrial alliance sponsored by the western bank card organization. The time window for China Mobile to go out has not been enough.

"Enterprises that want to do cross-border payments need to apply for third party payment licenses similar to mobile payments in the local area." Ma Huateng, President of the National People's Congress and chairman and chief executive of the Tencent board, said the link was slow and difficult. Even in some countries, it has been found that local infrastructure construction remains to be improved, and even some banks are unable to provide service interfaces. "If interconnectivity is not achieved, it is difficult to move into the next phase."

Faced with difficulties, He Qiang, a member of the CPPCC National Committee and professor of Finance School of Central University of Finance and Economics, suggested that we should provide a good policy environment for mobile payment innovation and "going global". For example, supervision measures should be innovating, further refined and differentiated. The government should support enterprises in social significance innovation, such as pilot biometrics in remote rural areas.

He Qiang also suggested that Chinese enterprises should be encouraged to lead the international payment industry standards and enhance the discourse power of the "Chinese standard". He believes that the user experience and security of domestic mobile payment has been tested in the market for many years. The government should encourage Chinese payment companies to promote the "China standard" in the world, and be brave enough to compete with "Western standards" to fight for the "commanding heights" of future development.