Criminals are now targeting those QR codes. They just walk around and put their own QR code stickers on top of the legitimate ones, hoping that future payment will end up in their accounts.
What really impress me is that Alipay immediately responded to such reports and agreed to foot the damages. They also started to promote the voice notification feature so street vendors don't have to stop periodically to just check whether they are actually getting paid.
You will never ever see Chinese big four state owned banks take good care of their customers/users to such extent. It is definitely a good example on why capitalism is the best choice in 2017.
"It is definitely a good example on why capitalism is the best choice in 2017."
Until the company becomes too big, and can do whatever they want without losing customers. See various horror stories about Bank of America, Comcast, PayPal, management engines in Intel and AMD chips, 'telemetry' in Windows, etc., for counterexamples.
I actually just realized one potential issue: there are two online payment platforms in China, they are owned by Tencent and Alibaba. If someone piss off both of them, e.g. some business disputes which is not really unheard of, they can choose to just refund all your money left in your account and close it. The consequence is obvious - you would be isolated from a normal life if you live in China.
From that aspect, there are tons to learn from what happened in America.
What really impress me is that Alipay immediately responded to such reports and agreed to foot the damages. They also started to promote the voice notification feature so street vendors don't have to stop periodically to just check whether they are actually getting paid.
You will never ever see Chinese big four state owned banks take good care of their customers/users to such extent. It is definitely a good example on why capitalism is the best choice in 2017.