An Update on China's Startup Landscape
A few weeks ago I flew to Chengdu, China to take part in a startup competition and regional tech talent conference. Chengdu is the fifth largest city in China and home of the giant panda.
A historic city that played a key role in medieval China’s warring era, I decided to fly in early to spend a few days sightseeing. On the second day, aching from my city walks, I popped into a nice, classy massage place inside a mall.
The receptionist asked me if I had pre-paid online through “Meituan” (a popular Chinese e-commerce app) and made an appointment.
I said no. She explained that walk-in prices are significantly higher. I said it’s ok and that I would like to pay in cash. She blinked and stared for a while.
Since I spoke Chinese fluently, she probably didn’t realize I was a foreigner. I explained that to her and she started panicking.
They had no cash in the shop she said. In fact, they didn’t even have a POS system. Everything was pre-booked online and paid through a mobile wallet.
I was stuck.
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haha i find you very brave to travel to Chengdu on cash. I think it is important to set up Alipay and go through the pain of set up then after that most things are a breeze. Problem is that Mei tuan is not very intuitive for a foreign number so i still haven't been able to set it it up as a mini app within Alipay. Other apps like didi travel, even pop marts works beautifully
Chief Executive Officer at Kieser Medical Technology
1 年Pleasure meeting you as well! Enjoyed chatting at dinner! Keep in touch!
Business Consulting & Financing / Real Estate / Investments
1 年Long time no see,ventured years ago...just return from China too.Updated with my bank and mobile.
Venture Builder??/ Ex-Accenture, Ex-BBC/ Excelled in CFA all 3 levels/Travelled to 100+ countries ????
1 年It was such a pleasure meeting you, Lance! And I learned a great deal from you!