Why USA is slow in the mobile payment development?
In the field of mobile payments, why is the pace of the United States so slow? The United States is in good condition, and smartphone coverage reached 51% in 2012, compared with only 23% in China during the same period. In addition, the United States' native mobile payment software is also a catch, one of which is PayPal, Google Wallet, and ApplePay. Regrettably, the conditions are no better. In the field of mobile payment, the United States is still "early early, catching a late set." Mobile payments were born in the United States but prospered in China.
Why is mobile payment not available in the US? The answer may be that Americans don't need it.
The United States has a developed credit card system. "At present, American credit cards have achieved full population coverage. From the United States to shopping malls, taxi drivers, POS machines have also become popular, Americans are used to using credit cards, and mobile payment is not so urgent." In China, three people have a credit card, while in the United States, one person has an average of three credit cards. For many Americans, why can you use your credit card to solve the problem?
The bank card acceptance environment in developed countries is relatively good, and credit card consumption has become a fixed trading habit. Residents in developed countries can achieve similar levels of mobile payment by using credit card payment. In addition, the US credit card system has established a relatively complete supporting system. US credit cards provide a piracy protection system and some credit cards also provide additional services. Most US consumers know the existence of mobile payment applications, but because developed credit card systems have already met their consumption or repayment needs, etc., making mobile Payments on the POS device become dispensable, which is also a major factor hindering the promotion of mobile payments in the United States. Therefore, the development of local mobile payment often encounters relatively large resistance and requires a longer adaptation period.
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