Mobile payments have become ubiquitous in China that they have made transactions easier and faster. After getting your Alipay and WeChat pay set up, be prepared as the world of Chinese online stores and mobile payments will be at your fingertips.
For Chinese college students, paying bills through mobile devices are a quick deal, according to a survey reported by China Daily.
China University Media Union and Ant Financial Services Group asked more than 10 million students from 4,000 universities and colleges how they paid bills and where they spent money on in 2016. The survey data showed 92 percent of students born in the 1990s had made payments through Alipay, with each of them paying an average of RMB 40,839 (USD 5,900). Clothes, cosmetics, and accessories comprise more than 41 percent of the items college students purchase, while food and utilities make up 19 percent. The consumption data also reveals that more female students do e-payments often, while male students tended to spend more.
In an interview with China Daily, Beijing University student Chen Lin said she seldom uses cash and brings only RMB 100 or 200 with her. ”Almost all the shopping on and around campus, either buying food in the canteen or purchasing books and snacks at other stores, can be done with a cellphone and a campus card,” she said.
Meanwhile, Shanghai university junior Hu Hao stated that male students don’t usually compare prices. “[S]ome male students may have to buy gifts or pay bills for their girlfriends, which may also be a reason why they spend more,” adding that he made about RMB 16,000 worth of online purchases last year — or about 70 percent of all of his expenditures for the whole year.
While e-payments make transactions hassle-free, students still need to be prudent and avoid irrational consumption. Jin Xiaotong, deputy director of Jilin University Business School, points out that students are still not financially independent and should discern which items are necessary to avoid wasting resources.