QR Codes Beating Apple Pay in China

The video discusses the advantages of QR codes over NFC payments like Apple Pay, especially in developing countries where smartphones are expensive. QR codes are more accessible and cost-effective for both consumers and merchants. The global adoption of QR codes is driven by Chinese companies like WeChat and Union Pay, which have established a global standard for QR codes. This standard addresses security and interoperability issues, facilitating global adoption. The video also explores the trend towards a cashless society, with China leading the way in QR code payments.

How does the cost of technology impact merchants' ability to use Apple Pay and Samsung Pay?

What are the main reasons consumers in developing countries may prefer QR codes over Apple Pay?

What does QR stand for, and why is it significant in the context of e-payments?

What are the two major deficiencies of QR codes mentioned in the text?

In what ways are countries like Nigeria and India adopting Chinese e-payment technology?