WeChat and Alipay payment system with a QR code is quite convenient and popular in China. You just need to scan a QR code provided by the mechants using your mobile, the money is easily transfered and paied. From the perspective of merchants, OR code for receiving money is easily acquired, by just printing it out, compared to buying a pos machine with high cost. However, it seems that paying through QR code is rare in Europearn countries. There might be a few reasons for that:

Existing Infrastructure: Europe has a well-established banking infrastructure with a strong reliance on credit and debit card transactions. Contactless payments via cards have been widely adopted in many European countries, reducing the need for alternative systems like QR codes.

Consumer Habits: European consumers have been using plastic cards for decades and are accustomed to this method of payment. Changing consumer habits requires time and a significant value proposition, which QR code payments have not yet been able to outweigh significantly.

Regulatory Environment: Europe has a stringent regulatory framework for financial services, designed to protect consumers and their data. Introducing new payment methods like QR code payments requires navigating this complex regulatory landscape, which can be a barrier to entry.

Privacy Concerns: European consumers and regulators are highly sensitive to privacy issues. QR code payment systems often require access to personal data, which might raise concerns under regulations like the General Data Protection Regulation (GDPR).

Market Fragmentation: Europe consists of many countries, each with its own language, culture, and financial regulations. This fragmentation can complicate the widespread adoption of a uniform payment system like QR codes, which has been more straightforward in a large, single-market country like China.

Competition from Established Players: The European payments market is dominated by established financial institutions and credit card companies like Visa and Mastercard. They have been proactive in developing their own contactless payment solutions that integrate with existing card and mobile payment systems.

Security: There may be perceived security concerns regarding QR codes. While the technology itself can be secure, there is potential for QR codes to be tampered with or spoofed, leading to fraudulent transactions.

Economic Factors: The financial incentives for merchants and consumers to switch to QR code payments must outweigh the costs associated with changing systems. This economic balance has not yet tipped in favor of QR code payments in Europe as it has in China.

Technology Penetration: Smartphone penetration is high in Europe, but the use of mobile apps for payments is not as deeply integrated into everyday life as in China. In China, mobile internet usage surged with the proliferation of affordable smartphones, and consumers leapfrogged directly to mobile payments, often bypassing the use of credit cards entirely.

Cultural Differences: Trust in large tech companies to handle financial transactions may vary between regions. In China, companies like Tencent and Alibaba quickly gained user trust for financial transactions. In Europe, there might be more skepticism towards allowing tech companies to penetrate the financial sector.

and one of the most important things: Limitation: Paying with QR code relies on the internet access.

Overall, the slower adoption of QR code payments in Europe can be attributed to a combination of technological, cultural, regulatory, and economic factors, along with the robust existing payment infrastructure and habits. As digital transformation continues to evolve, it’s possible that QR code payments might gain more traction in Europe, particularly if they can offer clear advantages over existing systems in terms of convenience, security, and cost.

Does technology limit people or liberate them? Sometimes I feel I just wanted to throw my phone out of my sight, but i cannot because it knows me more than I do，not to mention its use as a tool for integrating many functions.