Let's talk about the concept first. Foreign countries (I mainly compare with the United States) attach great importance to privacy, and mobile payment systems need people to give up some privacy. Your information needs to be transparent on the Internet to get the credit it deserves to support mobile payment.

At the same time, foreign countries have an innate distrust of the financial system because of their habitual ideas. They think that if I give the authority to financial institutions, they will definitely cheat me. This concept is also a restrictive factor that hinders the development of mobile payment.

However, because the credit system abroad is more developed and perfect, credit cards are better than domestic ones, which also restricts the development of mobile payment to some extent.

On the other hand, in China, mobile payment has actually filled the gap in the domestic credit system and developed rapidly. However, due to the underdeveloped financial system, China people do not have enough financial knowledge, and can accept the mode of convenience and privacy in mobile payment.

Let's talk about the system first. Because socialism has developed in China for many years, people believe in the government at heart. For example, in the p2p explosion, the first thing people want to do is to petition and complain, which is unimaginable abroad. Therefore, in fact, everyone believes that if something happens to these large mobile payment companies, everyone's money will not be lost, and the state will definitely help us manage it. So this is also the reason why mobile payment can be popularized.