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Payments: China the Global Leader

by new_c_admin

In Hangzhou, home to Chinese e-commerce leader Alibaba Group Holding, something has happened at the First People’s Hospital of Yuhang.

Gone are the long lines of waiting patients that have been a symbol of public health care in Chinese cities. Even the payment counter has only a few people awaiting their turn.

The hospital treated the problem by adopting facial recognition for everything from booking doctor appointments to paying for care.

The change shows how mobile payments continue to evolve in China as annual transactions reach 178 trillion yuan ($25.1 trillion), a private sector study found, expanding from meals at food stalls to car purchases and medical services.

Alibaba and rival