As Americans struggle with the pains of chip and PIN and Europeans embrace contactless payments, China has leap-frogged everyone when it comes to digital payments. In 2016, Chinese consumers spent $5500bn through their mobile apps. That is more than any other economy, and many predict that China will be first major economy to be completely cashless.
The chosen mobile payment system for most Chinese citizens is Alipay, and Ant Financial, the company than runs it. The firm has recently started to expand its footprint globally. So where is it going next?
