Singaporean businessman experiences mobile payment power

James Quan founded Bynd Artisan, a Singapore-based brand to sell leather-bound notebooks and other leather products 40 years ago. Customers also can make these leather products at the brand's workshop.

As the brand is well-known among Chinese tourists, James plans to open his first store in Shanghai.

Recently, James received a tip from his Chinese business partner to not bring wallet and coin purse to Chinese market because these products will not find many takers.

James was puzzled by the tip until he got the answer from some Chinese tourists. "The mobile payment is so popular in China so carrying cash is useless," the tourists told him.

Quickly, James' stores in Singapore began supporting Chinese mobile payment tool Alipay. The mobile payment was a good way to attract Chinese customers, James said.

The experience made him to start thinking about Chinese market and he said he should learn something from China.