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Chinese visitors prefer to pay with applications to CU
July 26,2018
Nine in ten Chinese tourists at the convenience store CU have used mobile apps to pay for their cashless purchases, the company said on Wednesday.
According to CU research, 87.2% of non-monetary payments from Chinese customers were made using payment applications. The remaining 12.8% were paid for the use of China UnionPay cards, which are promoted by the country's public bank.
Mobile applications are a dominant means of payment in China, but Korea has been slower to adopt them. In 2016, only 35% of non-cash payments were made through apps, while UnionPay's share was much higher at 65%. This was reversed last year when mobile pay apps took 65.7% of payments, with cards at 34.3%.
CU said that the use of applications skyrocketed after starting to accept WeChat Pay earlier this year.
By Song Kyoung-son
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