Why hasn't Alipay completely replaced Visa and Mastercard in US? Everyone has a smartphone to scan a QR code.
replyI struggle to understand how is this relevant. Alipay is closer to paypal than to VISA/MC
replyAlipay the wallet app is closer to PayPal. But they also have Alipay+ which connects a lot of different wallets and banks: https://www.alipayplus.com/mobile-payment-provider-list/
replyhave you not seen what happened to tiktok?
replyVisa and Mastercard do not own the internet cables or the wavelengths. Anybody is free to compete, and that's why they have many competitors. It is very common for businesses to accept a variety of unrelated payment methods. There is no monopoly here.
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