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Mobile Payments In China
China is one of the world's leaders in the adoption of mobile payments. Widespread adoption of mobile payments in China has facilitated the growth of e-commerce in China and growth in the retail banking sector. Digital payment platforms, alternatively known as e-payments, are the main medium of financial transaction in mainland China. Such e-payments, conducted through third-party platforms, make use of QR codes and personal barcodes. The use of physical currency and typical bank cards are relatively uncommon. The market for these platforms is characterised by a duopoly, with WeChat Pay and Alipay holding more than 90% of China’s market share for such transactions. Several alternative, smaller platforms exist, including the Chinese Central Bank’s (PBOC’s) UnionPay application. Due to the rapid adoption of e-payment platforms in China over the last two decades, both WeChat and Alipay have become so-called super-apps, hosting a range of sub-features. This includes tax ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mobile Payment
Mobile payment, also referred to as mobile money, mobile money transfer and mobile wallet, is any of various payment processing services operated under financial regulations and performed from or via a mobile device. Instead of paying with cash, cheque, or credit card, a consumer can use a payment app on a mobile device to pay for a wide range of services and digital or hard goods. Although the concept of using non-coin-based currency systems has a long history, it is only in the 21st century that the technology to support such systems has become widely available. Mobile payments began adoption in Japan in the 2000s and later all over the world in different ways. The first patent exclusively defined "Mobile Payment System" was filed in 2000. In a developing country, mobile payment solutions can be deployed as a means of extending services of financial institutions to the community known as the "unbanked" or " underbanked", which is estimated to be as much as 50 percent of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charity (practice)
Charity is the Volunteering, voluntary provision of assistance to those in need. It serves as a Humanitarianism, humanitarian act, and is unmotivated by self-interest. Various Philosophy, philosophies about charity exist, with frequent associations with religion. Etymology The word ''charity'' originated in late Old English to mean a "Christianity, Christian love for one's fellows", and until at least the beginning of the 20th century, this meaning remained synonymous with charity. Apart from this original meaning, ''charity'' is etymologically linked to Christianity, with the word originally entering the English language through the Old French word , which derived from the Latin , a word commonly used in the Vulgate New Testament to translate the Greek word (), a distinct form of Love (religious views)#Christian, love. Over time, the meaning of ''charity'' has evolved from "Christian love" to "providing for those in need; generosity and giving" (cf. ''offertory''), a transiti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Red Envelope
A red envelope, red packet, lai see (), hongbao or ang pau () is a gift of money given during holidays or for special occasions such as weddings, graduations, and birthdays. It originated Chinese culture, in China before spreading across parts of Southeast Asia and other countries with sizable Overseas Chinese, ethnic Chinese populations. In the mid-2010s, a digital equivalent to the practice emerged within messaging apps with mobile wallet systems localized for the Chinese New Year, particularly WeChat. Usage Red envelopes containing cash, known as ''hongbao'' in Mandarin language, Mandarin and ''laisee'' in Cantonese, are gifts presented at social and family gatherings such as Chinese marriage, weddings or holidays such as Chinese New Year; they are also gifted to guests as a gesture of hospitality. The Color in Chinese culture, red color of the envelope symbolizes good luck and wards off Demon, evil spirits. In Chinese, the red packet is also called "money warding off old a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mobile App
A mobile application or app is a computer program or software application designed to run on a mobile device such as a smartphone, phone, tablet computer, tablet, or smartwatch, watch. Mobile applications often stand in contrast to desktop applications which are designed to run on desktop computers, and web applications which run in mobile web browsers rather than directly on the mobile device. Apps were originally intended for productivity assistance such as email, calendar, and contact databases, but the public demand for apps caused rapid expansion into other areas such as mobile games, factory automation, GPS and location-based services, order-tracking, and ticket purchases, so that there are now millions of apps available. Many apps require Internet access. Apps are generally downloaded from app stores, which are a type of digital distribution platforms. The term "app", short for "Application software, application", has since become very popular; in 2010, it was listed as " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tencent
Tencent Holdings Ltd. ( zh, s=腾讯, p=Téngxùn) is a Chinese Multinational corporation, multinational technology Conglomerate (company), conglomerate and holding company headquartered in Shenzhen. It is one of the highest grossing multimedia companies in the world based on revenue. It is also the world's largest company in the video game industry based on its equity investments. Founded in 1998, its subsidiaries globally market various Internet-related services and products, including in entertainment, Artificial intelligence industry in China, artificial intelligence, and other technology. Its twin-skyscraper headquarters, Tencent Binhai Mansion, Tencent Seafront Towers (also known as Tencent Binhai Mansion) are based in the Nanshan District, Shenzhen, Nanshan District of Shenzhen. In December 2023, architect Büro Ole Scheeren unveiled the latest helix-inspired design of Tencent's new global headquarters in Shenzhen. Known as Tencent Helix, it will accommodate more than 2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business License
Business licenses are permits issued by government agency, government agencies that allow individuals or companies to conduct business within the government's geographical jurisdiction. It is the authorization to start a business issued by the local government. A single jurisdiction often requires multiple licenses that are issued by multiple government departments and agencies. Business licenses vary between countries, states, and local municipalities. There are often many licenses, registrations and certifications required to conduct a business in a single location. Typically, a company's business activity and physical location (address) determines which licenses are required to operate lawfully. Other determining factors may include the number of employees and the business#Basic forms of ownership, business, such as sole proprietor or corporation. Government agencies can fine or close a business operating without the required business licenses. Licensing and business registrati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taobao
Taobao is a Chinese online shopping platform. It is headquartered in Hangzhou and is owned by Alibaba. According to Alexa rank, it was the eighth most-visited website globally in 2021. Taobao.com was registered on April 21, 2003 by Alibaba Cloud Computing (Beijing) Co., Ltd. Taobao Marketplace facilitates consumer-to-consumer retail by providing a platform for small businesses and individual entrepreneurs to open online stores that mainly cater to consumers in Chinese-speaking regions (Mainland China, Hong Kong, Macau and Taiwan Taiwan, officially the Republic of China (ROC), is a country in East Asia. The main geography of Taiwan, island of Taiwan, also known as ''Formosa'', lies between the East China Sea, East and South China Seas in the northwestern Pacific Ocea ...) and abroad, which is made payable by online accounts. Its stores usually offer an express delivery service. Sellers are able to post goods for sale either through a fixed price or an auction. Auction ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alibaba Group
Alibaba Group Holding Limited, branded as Alibaba (), is a Chinese Multinational corporation, multinational technology company specializing in E-commerce in China, e-commerce, retail, Internet, and technology. Founded on 28 June 1999 in Hangzhou, Zhejiang, the company provides consumer-to-consumer (C2C), business-to-consumer (B2C), and business-to-business (B2B) sales services via Chinese and global marketplaces, as well as local consumer, digital media and entertainment, logistics, and cloud computing services. It owns and operates a diverse portfolio of companies around the world in numerous business sectors. On 19 September 2014, Alibaba's American initial public offering (IPO) on the New York Stock Exchange raised US$25 billion, giving the company a market value of US$231 billion and, by far, then the largest IPO in world history. It is one of the top 10 most valuable corporations, and is named the 31st-largest public company in the world on the Forbes Global 2000, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Princeton University Press
Princeton University Press is an independent publisher with close connections to Princeton University. Its mission is to disseminate scholarship within academia and society at large. The press was founded by Whitney Darrow, with the financial support of Charles Scribner, as a printing press to serve the Princeton community in 1905. Its distinctive building was constructed in 1911 on William Street in Princeton. Its first book was a new 1912 edition of John Witherspoon's ''Lectures on Moral Philosophy.'' History Princeton University Press was founded in 1905 by a recent Princeton graduate, Whitney Darrow, with financial support from another Princetonian, Charles Scribner II. Darrow and Scribner purchased the equipment and assumed the operations of two already existing local publishers, that of the ''Princeton Alumni Weekly'' and the Princeton Press. The new press printed both local newspapers, university documents, '' The Daily Princetonian'', and later added book publishing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Digital Wallet
A digital wallet, also known as an e-wallet or mobile wallet, is an electronic device, online service, or software program that allows one party to make electronic transactions with another party bartering digital currency units for goods and services. This can include purchasing items either online or at the point of sale in a brick and mortar store, using either mobile payment (on a smartphone or other mobile device) or (for online buying only) using a laptop or other personal computer. Money can be deposited in the digital wallet prior to any transactions or, in other cases, an individual's bank account can be linked to the digital wallet. Users might also have their driver's license, health card, loyalty card(s) and other ID documents stored within the wallet. The credentials can be passed to a merchant's terminal wirelessly via near field communication (NFC). Increasingly, digital wallets are being made not just for basic financial transactions but to also authenticate th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leapfrogging
Leapfrogging is a concept used in many domains of the economics and business fields, and was originally developed in the area of industrial organization and economic growth. The main idea behind the concept of leapfrogging is that small and incremental innovations lead a dominant firm to stay ahead. However, sometimes, radical innovations will permit new firms to leapfrog the ancient and dominant firm. The phenomenon can occur to firms but also to leadership of countries or cities, where a developing country can skip stages of the path taken by industrial nations, enabling them to catch up sooner, particularly in terms of economic growth. Industrial organization In the field of industrial organization (IO), the main work on leapfrogging was developed by Fudenberg, Gilbert, Stiglitz and Tirole (1983). In their article, they analyze under which conditions a new entrant can leapfrog an established firm. That leapfrogging can arise because an established monopolist has a somewhat re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
