WeChat is reinventing ecommerce and America is playing catch-up
techinasia.com
techinasia.com
It's also only viable in China because in China, the government, companies, and other such organisations are your friends and you have nothing to hide and they are mother and father and you can trust them completely.
In the west - not so much. People generally distrust governments and organisations, and are much less likely to trust the likes of facebook with eCommerce transactions. People won't even use their social media identity to log onto an eCommerce site (well, 0.02% of people will) - so the idea of them buying through a social media platform is fanciful in this observer's mind.
I may well be wrong, but unless there's a major shift in observed consumer behaviour, this isn't a thing outside of those corners of the world that explicitly trust all authorities.
Example: Log into amazon site with facebook credentials? Hell no. Make amazon purchase through facebook chat bot? Possibly.
When it comes to commercial trust, all third parties are not equal.
Last time I visited China I paid for cab rides and bought electronics all within wechat with minimal setup. The mobile commerce maturity and convenience that comes with wechat is years ahead of what Silicon Valley offers.
Really, America in general is backward when it comes to finance in general, it's not limited to Silly Valley and payments.
What? I was able to do this on AOL in the 90s. How is this progress?
And line has shown that the cramming everything into a chat app is a viable option. Japan has access to all social networks yet decided on using Line by a huge margin.
Ah. Well. I don't know what makes it "bloated". I runs very smooth on my underpowered android phone. Yes, Facebook is blocked in China but apps like WhatsUp work. I use very little WhatsUp and I think WeChat is far superior.
" of buttons called apps that do specialized things in a better and more simplified manner than WeChat can."
Not sure about this. I can text, call, send pictures end even money very easily. To use a different app and possible in each app every person has an additional ID (hence email, phone number, bank account number etc) would make things very inconvenient.
WeChat? Loving it.
I would just gently remind that WeChat is, without a doubt, the most successful SNS product after Facebook. Please show some respect and consideration when trying to claim that it is shitty; which undeniably questions the users' tastes (not saying users are always right, they might like shitty products anyway).
So what? If I think WeChat is a shitty product then why can't I say so. Their users use a shitty product, I use products they probably think are shitty.
Your comment is of mostly unfounded ideas as already pointed by others.
I do not follow "So what?", I am not trying to proclaim some self-righteous ideas. I am just trying to say that what you said is mostly unfounded, and that's not some real respect or consideration for the most successful SNS product after FB.
Like, if I say, Google search sxs, their users use shitty product. Sure I may have some good points to support that, but clearly I was not showing any respect or consideration for Google search's status as the most successful search engine.
Lastly, I am not sure why do you have this kind of attitude towards my comment. I was mostly neutral in my wording. You probably should learn to think and speak in a neutral position, instead of trying to position others as hostile.
Queue of 5-6 people. One customer nearer the front gets out their phone, locates the correct sub-app, scans, waits for confirmation, cashier gets confirmation.
This process, involving phone from pocket, unlocking screen, pressing screen, pressing screen again, scanning QR code for purchase, cashier getting confirmation, takes around 20 seconds (mainly latency on the physical interaction with phone part).
A cash transaction takes much less time.
There are 'bounce' apps that just mean you need to bounce against (hit) someone else 'bouncing', but they reduce the latency little.
Faster than card, but marginally.
/rant (stand in queues a lot)
And then scanning QR codes to add the shop as a 'friend' for a 1 Yuan discount (or demonstrate you've been a 'friend' before, more like a 0.2 Yuan discount). Wow. This can take over a minute.
No payment processing incumbent will EVER concede the single biggest market to another except on point of death.
(from a wechat product manager / Silicon Valley transplant)
I think this every-time I use Paypal on Ebay/Steam type services. While PayPal have many points of criticism, I find it most unbelievable they haven't lead the internet in one-click buying services across internet purchasing.
* The other day we heard about apple's enormous cash stockpile, focus on security, and risk management capacity, which positions them well to become a depositor bank. * Samsung is pushing Samsung pay everywhere it can * sounds like Facebook should add a "buy" button to Pages and pull a wechat.
Order and pay for materials from suppliers and have them sent to my factory
Communicate with my factory regarding product and pay them
Have the finished product shipped to my fulfillment center
Sell the product in my WeiDian shop and receive payments
and so on. WeChat is essentially digital infrastructure for both personal and professional use.
I have had WeChat installed for the past year, chat regularly but as far as I'm concerned, the only thing you can do is buy nice animated drawings.
The truth I fear is, if the bottom of the pyramid cant afford a computer, how much do you think they are going to be spending out of their empty mobile wallets. And then some wise ass will say but look they are spending.
The truth is they are being manipulated into spending, just like the suckers who were tricked into mortgages they couldn't afford. Who else does one think is clicking the infinite supply online ads.