Zuckerberg talks about the competition between WeChat and Alipay. Why is the cash payment method gradually fading out of sight?

Not long ago, Facebook CEO Mark Zuckerberg went to the House of Representatives to testify about cryptocurrency plans. When answering the question of why not build a platform like Alipay to compete with payment networks such as WeChat and Alipay, Xiao Zha said that this is not only a competitor that Facebook has to face, but also a competitor that all American companies have to face. China's financial infrastructure is much more advanced than that of the United States.

In China, WeChat and Alipay have become part of people’s daily lives, with a monthly active user base of more than 1 billion. Although it cannot be said that logging in to WeChat and Alipay has everything, it is not a problem to solve the basic daily life of our people. You can use them to communicate, play games, pay and transfer, buy tickets for shopping and travel, and even buy food and anything. You can just ask if there is anyone around you who doesn’t use WeChat or Alipay to pay.

I forget when people stopped using cash. Maybe it was the aunt selling pancakes and fruits downstairs who also put up a payment code sign; maybe it was the taxi driver who said to scan the payment code and you don’t have to change; maybe it was the man who collected the scraps who said I’ll transfer it to you directly; and Maybe the beggar raised the QR code sign on his body directly to you. It is conceivable that cash charging is really not the mainstream now.

From the beginning, foreign countries sneered at us using mobile phones to pay, but now it is so popular. It can also be said that China has made great progress in this regard. Things are changing. Isn’t it the turn of the Chinese today? Where is the leader of the Internet? I believe that after the popularization of 5G, China’s Internet will definitely perform even more amazingly. And you?