Dear MEL Topic Readers,
How 'Asian Tiger cubs' are driving online shopping
Today is the 11th day of the 11th month. It is now known as “Single’s Day,” the biggest online shopping day on earth. The creator of this online shopping bonanza, Alibaba's Tmall and Taobao in China together generated over US$17.8 billion in a day last year. Most of the online purchases and payments were completed by smartphones. Yes, mobile payment is taking place for notes and cards in the wallet in China. Most of the retailers in China now accept Alipay or WeChat Pay by scanning QR code even at a mom-and-pop street shop. In fact, “Cash or card” or “Visa or Master” question is taken place by “Alipay or WeChat Pay.”
But that’s just a current trend. What about the future? In one of the elementary schools in Singapore, students were provided with a payment wristband to complete any transactions in the school premise. For example, they can buy snack or stationary without cash, and their parents will be notified what was purchased via online. When these kids are grown up, what their shopping habits will be like? Bad news for thieves. That’s for sure.
Enjoy reading and thinking of the time when there is no money or wallet but just an AI device that identifies you without a password.
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