 "China spends more than ever on Alipay amid mobile payments boom")
Alipay, China’s top mobile wallet app, hit record highs in 2016 for the amount its 450 million users spent online or in stores. The app’s biggest group of spenders, the people of Shanghai, paid out an average $20,400 last year, said the Alibaba spin-off company today.
Those Shanghai shoppers spent 1.5 times more than in 2015.
The average middle class wage in Shanghai is $35,000, but this doesn’t account for undisclosed income such as from property rented out.
The app’s main rival is WeChat, which contains features for online and in-store cashless payments. Apple Pay is another contender.
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