The future of money: three ways to go cashless
Summary
TLDRLe monde entier se dirige vers une société sans papiers liquides, mais la façon dont cela se manifeste varie d'un pays à l'autre. Aux États-Unis, les cartes de crédit Visa et MasterCard sont omniprésentes, offrant de nombreux avantages aux consommateurs. En Inde, le système UPI permet des transactions numériques interopérables sans carte, ouvrant la voie à des services financiers pour ceux qui n'avaient pas d'historique de crédit. En Chine, Alipay et WeChat Pay dominent avec des réseaux fermés, mais ont également développé des services financiers complémentaires. Ces modèles montrent comment le passage aux paiements numériques peut débloquer d'autres changements dans le système financier.
Takeaways
- 🌐 La tendance vers une société sans espèces est en accélération à travers le monde.
- 💳 Aux États-Unis, l'utilisation des cartes de paiement a augmenté significativement, en particulier pendant la pandémie de COVID-19.
- 💹 Visa et MasterCard sont les principaux acteurs du marché des paiements par carte aux États-Unis.
- 💲 Les frais élevés payés par les commerçants aux émetteurs de cartes sont redistribués aux consommateurs sous forme de récompenses.
- 🛡 Les cartes de crédit offrent également une protection importante aux consommateurs.
- 🇮🇳 En Inde, le système de paiement numérique le plus grand est le système d'interface unifiée de paiement (UPI), qui a traité des transactions équivalentes à un tiers du PIB indien l'année dernière.
- 📱 L'interopérabilité du système UPI permet aux transactions mobiles de fonctionner entre différentes banques et portefeuilles financiers.
- 🌐 L'Inde a adopté un modèle de paiement numérique différent de celui de l'Ouest et de la Chine.
- 📈 L'adoption de UPI en Inde a permis d'ouvrir la porte à d'autres services financiers en fonction des données générées par les transactions.
- 🏦 En Chine, Alipay et WeChat contrôlent environ 90% des paiements numériques avec un système de QR code qui a permis de démocratiser les paiements numériques.
- 🚫 La présence dominante d'un fournisseur de paiement qui contrôle une grande partie du système financier a conduit le gouvernement chinois à intervenir pour éviter une concentration excessive.
Q & A
Quel est le mouvement mondial visant à créer une société sans espèces ?
-Le mouvement mondial tend vers une société sans espèces, en accélérant l'utilisation des systèmes de paiement numérique.
Quels sont les principaux systèmes de paiement numérique abordés dans le script ?
-Les systèmes de paiement numérique abordés sont Visa et MasterCard aux États-Unis, UPI en Inde et Alipay et WeChat Pay en Chine.
Quels sont les avantages des cartes de crédit aux États-Unis ?
-Les cartes de crédit aux États-Unis offrent des récompenses telles que des miles aériens, des points d'hôtel ou des remises en cash, ainsi qu'une protection consommateur importante.
Comment fonctionne le modèle de paiement UPI en Inde ?
-Le modèle UPI en Inde est un système de paiement numérique où le gouvernement a créé une entité non lucratif qui facilite les transactions mobiles entre les comptes bancaires via des applications financières.
Quelle est la taille du marché de UPI en Inde ?
-Le système UPI en Inde a traité des transactions d'environ un trillion de dollars l'année dernière, ce qui représente environ un tiers du PIB indien.
Quels sont les avantages de la transition vers les paiements numériques en Inde ?
-La transition vers les paiements numériques en Inde a permis de générer des données sur les transactions, améliorant ainsi la solvabilité des individus et leur capacité à obtenir des assurances ou des prêts.
Comment fonctionnent les systèmes de paiement Alipay et WeChat Pay en Chine ?
-Alipay et WeChat Pay sont des applications financières qui permettent de payer directement d'un compte à un autre en utilisant des QR codes, sans nécessiter de carte de crédit.
Pourquoi les systèmes de paiement en Chine sont-ils si populaires ?
-Les systèmes de paiement en Chine sont populaires car ils sont basés sur des applications largement utilisées et offrent une méthode simple et économique d'accepter les paiements numériques via des QR codes.
Quel est le pourcentage de la part de marché des paiements numériques détenu par Alipay et WeChat Pay en Chine ?
-Alipay et WeChat Pay contrôlent environ 90% des paiements numériques en Chine.
Quels sont les défis potentiels que les géants des paiements numériques en Chine pourraient rencontrer ?
-Les géants des paiements numériques en Chine pourraient rencontrer des défis en raison de leur dominance qui pourrait inquiéter le gouvernement et conduire à des régulations plus strictes.
Quels sont les avantages de la propriété des données de transaction pour les consommateurs en Inde ?
-En Inde, les consommateurs peuvent exporter leurs données de transaction et les importer dans d'autres environnements financiers, leur permettant de gérer leurs propres données et d'accéder à des services financiers de leur choix.
Outlines
🌐 Évolution vers une société sans papiers liquides
Le monde entier assiste à un accroissement rapide de la tendance vers une société sans papiers liquides. Les correspondants de The Economist partagent leurs perspectives sur les principaux systèmes de paiement numérique dans trois marchés clés. Les États-Unis ont vu une augmentation de l'utilisation des cartes de crédit, notamment pendant la pandémie de COVID-19, où les gens ont dû faire leurs courses à la maison. Les cartes Visa et MasterCard sont largement acceptées et offrent des récompenses attrayantes aux consommateurs, tandis que les frais élevés payés par les commerçants sont redistribués par les banques émettrices. En Inde, le modèle différent est représenté par l'interface de paiement unifiée (UPI), qui est le plus grand réseau de paiement numérique du pays et a traité des transactions équivalentes à un tiers du PIB indien l'année dernière. Le gouvernement a créé une entité non lucrative, en partie détenue par la banque centrale, qui facilite les transactions mobiles entre les comptes bancaires via des applications financières. Ce système rend les paiements numériques accessibles à ceux qui n'ont qu'un téléphone mobile et pas nécessairement de l'historique de crédit.
📱 Modèles de paiement numérique en Chine
La Chine présente un modèle de paiement numérique unique, dominé par les applications Alipay et WeChat Pay, qui contrôlent environ 90% des paiements numériques. Ces applications fonctionnent sur des réseaux fermés, où les transactions sont généralement limitées aux comptes de la même application. Le succès de ce modèle est attribué à l'introduction de QR codes par Alipay en 2011, permettant aux consommateurs de payer en扫描二维码. Cette méthode a été adoptée par WeChat Pay, qui a pu s'appuyer sur sa base de messagerie populaire pour diffuser rapidement le service de paiement. Ces applications ont également développé d'autres services financiers, comme le prêt, autour des paiements. Cependant, leur dominance a suscité des inquiétudes chez le gouvernement chinois, qui a pris des mesures pour éviter la création de tels acteurs dominants dans le système financier, ce qui a également influencé la conception de l'UPI en Inde.
Mindmap
Keywords
💡Société sans argent liquide
💡Visa et MasterCard
💡UPI (Unified Payment Interface)
💡Interopérabilité
💡Alipay et WeChat Pay
💡QR Code
💡Pandémie de COVID-19
💡Système bancaire américain
💡Inclusion financière
💡Données de paiement
Highlights
The trend towards a cashless society is accelerating worldwide, especially after COVID-19.
In the US, credit card networks like Visa and MasterCard dominate digital payments due to their entrenched model of charging high fees to merchants, which finance rewards for consumers.
Credit card companies in the US offer consumer protection, making their system highly resilient and hard to disrupt.
India's Unified Payment Interface (UPI) offers a fundamentally different model, allowing interoperability between banks and fintech apps without the need for a credit card network.
UPI processed transactions worth $1 trillion in the last year, equivalent to about one-third of India's GDP.
UPI enables people without a credit history or access to traditional banking systems to participate in digital payments.
UPI has facilitated the growth of other financial services, such as loans and insurance, by generating transaction data that can be used to assess creditworthiness.
India's account aggregator system allows users to export their payment data and access financial services from other providers.
China’s digital payment system is dominated by closed networks like Alipay and WeChat Pay, which control around 90% of the country's digital payments.
Alipay revolutionized payments in China by introducing QR code-based payments, making it easier for small businesses to accept digital payments.
WeChat Pay followed Alipay's model and grew rapidly due to its massive user base from its messaging platform.
Alipay and WeChat Pay have also ventured into lending, with Alipay's parent company, Ant Financial, originating around 20% of short-term consumer credit before COVID-19.
The Chinese government blocked Ant Financial's planned IPO due to concerns about the concentration of power in a single private company.
The design of India's UPI system was partly motivated by a desire to avoid creating a dominant, private player like Alipay in China.
Global digital payment systems vary significantly, with the US relying on card networks, India using interoperable UPI, and China dominated by closed fintech networks.
Transcripts
around the world the trend towards a
cashless Society is accelerating but
what will that digital future look like
and how will it vary across the globe
the economists correspondents share
their insights on the major digital
payment systems in three key markets
[Music]
there have been sort of a few winners
from this trend
um which sort of really accelerated uh
during covid-19 during the pandemic when
people were sort of having to shop for
everything from home in particular in
places like the US people have been
using those cards more and more as
payments have shifted more digitally the
reason that network is so
um sort of entrenched and so resilient
is because it has an extremely sort of
clever underlying model which is that
the card issuers Visa and MasterCard
charge enormous fees to the merchants uh
the sort of Shoppers so you know your
coffee shop or or even sort of Amazon
and Walmart
and those Merchants feel like they sort
of have to pay those fees they have to
accept these cards because they are so
ubiquitous uh most of that fee is sort
of routed uh to the the issuing bank so
JPMorgan Chase or Citibank or whoever
sort of issued the credit card that
you're using uh but they use that fee to
then pay the consumers who use those
cards sort of really enormous rewards so
this is the sort of air miles or hotel
points or cashback that Americans have
become sort of so accustomed to
receiving uh the cards also come with
sort of huge amounts of sort of consumer
protection uh so you know if something
isn't delivered as uh described or sort
of an airline cancels your ticket you
have recourse through these credit card
companies and they can afford sort of
all of those luxuries because the fees
are so high and so it is very difficult
to see sort of what could
um could disrupt that model because
consumers love to use these cards and uh
and Merchants feel like they have to
accept them
what India is doing is really a
fundamentally different model than you
know what we have in the west or really
even what uh you know China has with
digital payments um so it's called a
unified payment interface or UPI uh it's
now the largest digital payment Network
in the country a processed a trillion
dollars in transactions last year that's
about a third of India's GDP uh and the
way it works the government has set up
uh you know a non-profit that's
partially owned by the central bank and
it basically sits in the middle of every
uh mobile transaction in the country
um so there are a lot of banks a lot of
fintech wallets in India just like other
countries but what they've done is
they've made them all uh talk to each
other uh what's called interoperability
uh where the UPI system sits in the
middle of each one and they have a
common set of standards and apis that a
lot allows for payments between uh my
bank account and your bank account
directly facilitated by a fintech app in
the UPI system uh and so it's different
than uh you know the West because
there's no need for a credit card
Network and so you know people who only
have a mobile phone and may not have a
credit history and might not be able to
get into the financial system otherwise
are now able to do digital payments
um I think that's like a pretty big
change for a country that was previously
mostly uh using cash one of the things
that's so fascinating is how a shift
towards these type of payments can
unlock a whole range of other changes
within the financial system as people
have uh more data generated about their
transactions so it changes their credit
worthiness which in turn might change
their ability to get insurance or loans
how is that playing out in India loan
provision has basically taken off uh you
know as a result of the data produced by
UPI they have a system where you can
basically export your data let's say
you're using one payment app or One Bank
you can export your data it's called the
account aggregator system and then you
can import it into another uh you know
Financial Services environment so
basically allows you to kind of own your
own data and then get you know financial
services from anyone and I think that
that like kind of linkage between
payments and other Financial Services is
what's really taking off around the
world
[Music]
of the newest model I think it's fair to
say or one of the newest models in India
you have this 60 year old model in
America and Europe with the the bank
card system and then in China you have
something different right which is it
which is neither uh you have a statistic
in your report origin about how Ali pain
WeChat control about 90 percent of
digital payments in China and I remember
the last time I was in China this is
pre-pandemic but trying to pay for
something with my credit card and it was
even at a western chain I think it was a
Starbucks and they had to go to the back
and get out a credit card machine and
plug it in because everyone else was
paying with their phones and so tell us
for people who might not be familiar
what that payment system looks like and
what its longevity is you think in China
or how it might be used elsewhere so
it's not it's not an open system uh like
UPI is but it's also not like a card
network uh how the US Works rather it's
you know a fintech app um or two as you
mentioned alipay and WeChat pay and
their clothes networks that means uh you
know you can typically only pay from one
alipay account to another alipay account
or from one WeChat pay account to
another WeChat pay account and the
reason why the the system kind of took
off the way it did is because in 2011 um
you know alipay at Financial they
basically uh you know at the time was
Alibaba they basically launched uh a QR
Code system where you could basically
scan a QR code at a merchant shop and
then you could pay directly and that was
really groundbreaking because previously
you needed expensive card readers as you
mentioned uh which you know a lot of
businesses in an Emerging Market you
know don't really want to spend money on
which is why they would prefer cash but
QR codes are super cheap you just need
to you know slap a sticker on your
storefront and then you can start
accepting digital payments and by then
smartphones were getting you know
becoming more ubiquitous
so that's kind of what allowed alipay to
really take off and then WeChat pay was
able to basically copy it and grow
because you know WeChat was used for
messaging right it's kind of like you
know as ubiquitous as like a Facebook is
in the west uh and so you know everyone
was already onboarded on their platform
so it was very easy for them to kind of
already have the network effects built
in uh and then simply add the payment
business on top of that and so just to
give you a context some context on the
numbers here you mentioned the 90
percent of uh statistics right 90 of
digital payments were happening on these
two platforms it's also a hugely
valuable business because the other
services they put around uh the payment
so you know all you pay got Financial
got really into lending right
um you know right before uh covid uh you
know something around 20 of all
short-term Consumer Credit was
originated by amp Financial which is you
know insane when you think about uh you
know how much money is going uh into
lending in these countries as opposed to
IPO for you know 300 billion dollars but
of course that was blocked by the
government
um and in fact you know the the kind of
presence of this type of dominant
payment provider that controls so much
of the financial system was a bit scary
to the to the Chinese government which
is why they ended up doing what they did
and that was actually you know uh uh one
of the motivations for why UPI was
designed the way it was
um is so the system didn't create such
huge uh individual player that
controlled so much of Finance
this video is part of a longer
discussion between the economist
journalists if you're a subscriber you
can watch the whole thing please click
this link see you next time
foreign
[Applause]
Voir Plus de Vidéos Connexes
C'est quoi les droits de l'enfant ? - 1 jour, 1 question
Cours de comptabilité financière : le fonctionnement des comptes
Your Credit Card is at Risk because of this hacking device!
La nouvelle monnaie qui va voir le jour en France
Why “Consumerism” Isn’t As Bad As You Think It Is
POURQUOI VOUS PAYEZ VOS BIÈRES TROP CHER
5.0 / 5 (0 votes)