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Why digital payment so prevailing in China?https://knowledge.wharton.upenn.edu/article/fintech-china-lies-ahead/

qianruliu'sMurielle·Mar 31, 2020
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Ant financial is the biggest Unicorn in the world according to CBINSIGHTS. Began by providing digital payment with a QR code to pay for everything in Chinese life, it successfully immersed into all walks of life, especially those from Tier 4 cities without access to credit card. Currently, they focus on developed varies financial products within the app, and the business model of this giant Fintech startup is fundamentally different from the West. It measures credit from the user data regarding "their consumption behaviours", "their network" , and believe bad credits can be altered by changing consumer behaviours, whereas the west use credit rating system for users.
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