Everyone knows that electronic payment was first invented by Europeans and Americans, but some developed countries in Europe and America still pay in cash, and electronic payment has not been popularized. However, electronic payment is becoming more and more popular in China, and now it is almost unnecessary to pay in cash.

So why are developed countries in Europe and America still paying in cash instead of using electronic payment such as mobile payment? Is it because European and American consumers don't want to use it, or do they think it is unnecessary? I don't think so. The sigh of European and American tourists who come to China to experience electronic payment can tell them that their country is backward in using cash payment.

So, why do they like electronic payment so much, but they still use cash payment in their own country? In fact, in order to realize electronic payment, we need the support of merchants, banks, third-party institutions and consumers. If a link goes wrong, electronic payment will not develop smoothly.

At present, the banking industry in Europe and America is very developed, especially credit cards, and almost all Europeans and Americans have several people. Moreover, in daily life, credit cards are mostly used directly, whether for consumption or payment, so the credit year has become a major source of profits for European and American banks.

Once European and American banks support electronic payment, it will affect their own profits. Therefore, in order to maintain their own profits, many banks may not be so active in cooperating with third-party mobile payment.

There are also merchants, which are based on the consideration of handling fees. Then many merchants may not accept mobile payment. If the merchant does not support it, the third-party mobile payment will not be promoted. Therefore, developed countries in Europe and America have not popularized electronic payment.