Martin Chorzempa on China’s Cashless Revolution and the Rise of Super Apps
Macro Musings with David Beckworth
Is There a Good Real Time Payment System?
In the US, we're now just working on completing a real time payment system. But this is something that exists in China effectively through these apps already right? Yes. And they're not interoperable, at least until very recently, they were completely separate. They would rather have you transfer your money into their closed loop and then do all of your transactions in there. This is potentially this crazy oligopoly where there's really no ability to transact between platforms.
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