When it comes to digital payments, China is certainly a world leader both in the areas of online shopping and pre-ordering from brick-and-mortar stores, cafés and restaurants. Data from the Statista Tech Giants survey
shows that nearly as many Chinese citizens shop online as use the very popular option of pre-paying and then picking up their order from a brick-and-mortar store, café or restaurant. 60 percent of respondents said they used digital financial services daily.
Homegrown companies lead the way in the Chinese digital payments industry
, with Alipay by e-commerce giant Alibaba being the most popular, followed by WeChat Pay, QQ Wallet and Baidu Wallet. Many major internet players in China have spun off their own payment service and are successful at it. International services by big players Apple, Google and Amazon are trailing far behind and not even online payment veteran Paypal can get a foot on the ground.
Facebook Payments so far only offers peer-to-peer payments but is planning to roll out its own full-fledged payment service in China. Breaking into the competitive Chinese market might prove tough, even for the global player.