Skip to main content

Slashdot: 'Don't Even Try Paying With Cash in China'

'Don't Even Try Paying With Cash in China'
Published on November 01, 2020 at 04:24AM
"It's hard for those of us who live outside of China to grasp how paying for everything has gone digital in the country," writes the New York Times, introducing a Q&A with technology reporter Ray Zhong (who used to live in Beijing): Most businesses there, from the fanciest hotels to roadside fruit stands, display a QR code — a type of bar code — that people scan with a smartphone camera to pay with China's dominant digital payment apps, Alipay and WeChat. Paying by app is so much the norm that taxi drivers might curse at you for handing them cash... Ray: Credit cards were never prevalent in China. The country skipped over a generation of finance and went straight to smartphone-based digital payments. And the apps are simple for businesses. If a business can get a printout of a QR code, it can get paid by app. They don't need special machines like businesses do to accept credit cards or many mobile payments like Apple Pay, which are essentially digital wallets of bank cards, while Alipay and WeChat are more pure digital payments... China has a stodgy, state-dominated banking system. These apps have allowed small businesses to connect to modern financial infrastructure easily. I know paying with a credit card isn't tremendously difficult, but making it a fraction easier to buy stuff has enabled different kinds of commerce. You probably wouldn't buy something on Instagram for 50 cents with your credit card, but people in China buy digital books one chapter at a time. What are the downsides? Ray: Imagine if powerful tech companies like Google knew everything you've purchased in your entire life. That's one. There are also concerns that Alipay and WeChat are so dominant that no one can compete with them. Yet towards the end of the interview, the reporter concedes that Alipay and WeChat were "developed for China's specific needs. I'm not convinced similar QR-code-based digital payment systems will catch on elsewhere. Maybe in India."

Read more of this story at Slashdot.

Labels:

Comments

Post a Comment

Popular posts from this blog

Slashdot: Battery Fires At Recycling Centres Are Costing the UK £1bn a Year

Battery Fires At Recycling Centres Are Costing the UK £1bn a Year Published on 2026-08-23T00:29:00Z Wrongly discarded lithium batteries, such as those in vapes, are causing more than 10 fires a week at U.K. recycling centers, according to figures shared with the Guardian: The Environment Services Association (ESA), the trade body for waste management companies, said its members had reported 1,518 fires in the year to March 2026. At least 541 of these fires were directly attributed to lithium ion batteries, the survey found. There were a further 216 battery fires in bin lorries [garbage trucks]. The ESA said the reported number of battery-related fires underestimated the scale of the problem, because in most incidents it was impossible to determine the cause of the blaze. A spokesperson said: "We know 40% of fires at recycling centres are caused by batteries, but we think the actual number is more like 70%." It estimates that annual cost of these fires has increased from ...
Post a Comment
Read more

Slashdot: How the FSF Sysadmins are Blocking Botnets with reaction

How the FSF Sysadmins are Blocking Botnets with reaction Published on 2026-07-11T21:47:00Z For nearly two years the Free Software Foundation has been fighting web crawlers (including many aggressively scraping training data for AI models). A botnet controlling about five million IPs hit one system for six months in 2025. Their systems administrator wrote this week that they view these as distributed denial-of-service attacks. How are they fighting back? We noticed patterns in the scrapers that were abnormal, which gave us material for writing regular expressions. Searching for the regular expression then gave us a large lists of IP addresses. Looking up the origin of those IP addresses revealed that some of the crawlers were using botnets of residential IP addresses to scrape faster and avoid detection. We looked for what kinds of botnets might be generating the kind of traffic that we were seeing, and one that we suspected was called the "Vo1d" botnet, comprised of sma...
Post a Comment
Read more

Slashdot: AT&T Outlines $250 Billion US Investment Plan To Boost Infrastructure In AI Age

AT&T Outlines $250 Billion US Investment Plan To Boost Infrastructure In AI Age Published on 2026-03-10T20:00:00Z AT&T plans to invest more than $250 billion over the next five years to expand U.S. telecom infrastructure for the AI age. The company says it will also hire thousands of technicians while partnering with AST SpaceMobile to extend coverage to remote areas. Reuters reports: Rapid adoption of artificial intelligence, cloud computing and connected devices has prompted telecom operators to invest heavily in fiber and 5G networks as they also seek to fend off intensifying competition from cable broadband providers. AT&T, which has about 110,000 employees in the U.S., said the new hires will help build and maintain its infrastructure. The outlay includes capital expenditure and other spending, the company said. The spending will focus on expanding its fiber and wireless networks, including accelerating deployment of fiber broadband, 5G home internet and satellite co...
Post a Comment
Read more