China as one big ‘Sandbox’ of innovations

 

 

How Chinese innovations in payments will affect Europe

Rita Liu, Head Alipay EMEA
David Lee Kuo Chuen | Professor @ SIM Singapore, Entrepreneur, Director and Advisor

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China and India are perceived as the two key nations with the most innovations in the transaction space. China’s ecommerce market is still expanding and forecasted to reach $1 trillion in 2020. Mobile payment giants Alipay and WeChat Pay are going head to head to win market share as Alipay retains its lead. Next to that we see that Chinese payment providers do follow the affluent Chinese shoppers both at home and abroad. Chinese tourism to Europe is growing exponential. So “follow the client” is what we see happening. But will it be more? How will key Chinese payments developments effect the European payment landscape and what to expect from new entries in the European market. This track will discuss the key trends in China on payments innovation, next to key insights of the developments in Europe by one of the leading providers: Alipay. The session will be a dual presentation, leaving ample time for Q&A and discussion with the experts presenting.

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