Embrace e-payment or lose customers

EIGHT years ago, Starbucks developed its own app for mobile payments. Today, it's still held up as the gold standard in the United States.

In Asia's rapidly-developing market, where mobile payment is almost a decade ahead of the West, things are quite different.

In China, you can mobile pay for everything from a cab to a mojito to utility bill. In 2015, WeChat registered more financial transactions in one day than PayPal did in 12 months.