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Why Do Chinese People Use WeChat Pay? By Andrew Jin
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hen I first came to China, there was no such thing as WeChat pay or WeChat.. Everybody used cash, even credit cards and debit cards were not popular then. However, now WeChat pay has become an inherent part of Chinese society. In fact, traders at traditional market places accept WeChat payments. I personally think there are two main reasons for this. First of all, Chinese people had many troubles relating to counterfeit money. Before Wechat pay gained popularity, many stores displayed counterfeit
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money with the sole aim of warning customers. However, with introduction of WeChat pay, people no longer had to worry about it. As a matter of fact, I have once received counterfeit money. Although it was only 10 RMB, I was shocked that it really exists. Another reason why WeChat pay is so successful is that it has made business transactions more convenient and faster. With the normal traditional trading, buyers have to pay by cash and wait for the sellers to give them the goods and change. For few customers, it seems to be a simple process, but when business is good, dealing with payments from a lot of
customers may pose a great burden for sellers. In contrast, when people use WeChat pay, there is no need for sellers to give the change. In other words, total time required for a transaction decrease incredibly. Thus, more trade can be processed with WeChat. It is advantageous to normal citizens as they could save time. Specifically, sellers could sell more goods and maximize the profit. To sum it up, I think the WeChat payment system so far has been successful because it benefited normal citizens and it could be a good model for economic development in the future for the whole world.
