A new partnership with online retailer JD.com is not likely to help Chinese card-payment network UnionPay stay relevant, reports Caixin.
While, as China moves to a cashless economy, card-based transactions have seen a 35% increase over a year ago, it pales in comparison to the 86% jump in mobile payment transactions, led by Alipay and WeChat Pay. The two tech giants account for a combined 94% market share. In comparison, JD.com’s payments unit is ranked sixth with a market share of 0.8%.
UnionPay was once among the first to develop mobile payment QR-code technology, but the state-owned company was too slow to bring the technology to market and address regulators’ concerns.
Thats whats happens to the goddamn Indians. They write and moan about the Chinese doing this and that ( Hambantota, Gwadar, Chinese sumarines and navy vessels in the Indian Ocea, Djibouti, etc etc), painting a picture of the Chinese coming to invade them, and at the same time, without saying so much, sneering/deriding the SriLankans, the Pakistanis and anyone else who are silly and "stupid enough" to accept Chinese help, that they will be burdening their country’s future generations to pay off debts, while the Indians are ever so proud to boast to the world that they are the "largest democracy " in the world, and they would rather see more than half(and increasing) of their population without toilets defecating in the open, the general population urinating anywhere they feel convenient at that moment of need, patronizing/hoodwinking the more than 300+ million(IMF/UN/World Bank figures) for their "great loyalty" to accept and remain living below the poverty line of less than a $1 a day, for them and their children, and their children’s generations, ever so proud to display in mind boggling inequality in their caste system, sooo… very proud to show to the world their daredevil way(hanging on the outside and on top) of free riding on their decrepit trains, ever so proud to show the world their "great fluency of speaking Indlish" even after more than 400 years learning from their tiny colonial master, and to crown the height of ridiculouness of the Indian’s great management skill, spend, spend, and spend the $100s of billions of the poor masses tax money on buying the super rich western countries super expensive weapons systems/hardware.
If the Indians are so smart and fear so much, then why don’t they offer to do what the Chinese are doing for those countries? Now you understand exactly what is meant, when we say ‘the Indians are always talking through their arses", and not wiped at that.
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