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Uzone.id – These days, cash payments are becoming increasingly uncommon with the rise of digital payment methods. The great thing about this shift is that both buyers and sellers no longer have to worry about fumbling for change when making purchases.
China is leading the way in embracing digital payments, with Alipay being one of the most popular options. It’s not unusual to see digital payments used everywhere, from street vendors and taxi rides to buying souvenirs from local shops. This convenience has made cashless transactions a standard part of everyday life.
Unlike Western countries, China has shown a major revolution in the way they transact through digital payments based on user base, depth of functionalities, and reshaping consumer behavior.
What is Alipay?
Alipay is an online mobile payment application owned by Alibaba and founded by Chinese billionaire, Jack Ma. This application is also the largest transaction volume of any mobile payment service outside of China.
With Alipay, you can rent cars and bicycles, order food, and pay bills. Alipay allows users to link their Alipay accounts to their international bank cards. This way is believed to encourage many tourists to return to China.
Interestingly, Alipay is friendly to tourists so it is often used as a tool by tourists who come to China to pay because Alipay accepts foreign passports to register as users.
Why do a lot of people use Alipay?
Alipay has provided unmatched convenience for its users. So, it is not surprising to see this payment application so popular in China. Just imagine, just by scanning a QR, users can pay for all their purchases, pay bills, and even pay transportation costs.
Besides that, the popularization of mobile payments in China also brings many benefits to the merchants, in terms of cost-saving, improvement in operational efficiency and capital assessment, and, more importantly, digitized and data-driven marketing capacity—by The Mobile Payment Revolution in China.
In addition, Alipay has also contributed to financial inclusion in China. They provide services to the unbanked population so that they can still access financial products. For example, they are getting loans and paying for insurance.
In addition, Alipay continues to innovate with its features so that they are always up-to-date and relevant amidst the ever-changing market. The platform also continues to comply with China’s complex regulations and ensures that its operations remain sustainable and trustworthy.
Concern about Alipay
However, sometimes paying with digital payments will cause problems if the signal is not supported, the cellphone is dead, and suddenly the digital bank or e-wallet cannot be accessed because it is being maintained.
As almost the entire population of the country uses Alipay, concerns have been raised about privacy and data security issues. With the vast amount of personal and transactional data collected by the platform, concerns have been raised about potential breaches of user privacy and data protection.
But, so far, Alipay mobile payment service providers and regulatory parties have been quite successful in managing risks and threats. In addition, payments with QR technology to make transactions are also easy to counterfeit. This can lead to greater and more serious financial losses over time.
So, as a seller or buyer, you have to be more aware before making a payment.
How to protect yourself when using QR codes?
There are several ways to protect yourself from financial losses due to QR Codes.
First, you must ensure that the QR Code comes from a legitimate store or merchant. Also, check the website address before making a payment. If the website address looks suspicious, you should cancel the transaction.
No need to download a third-party application to scan QR Codes. Just use the built-in scanner on your smartphone. And, no less importantly, don’t be easily tempted by offers that promise big profits without clarity.
