It probably helps that China is an authoritarian government which still has control over the banks...
No it probably helps that QR codes work on the 700+ million low-end smartphones currently in use in China whereas western banks assume all western consumers will just buy a new high end smartphone every 18 months to get NFC (I wont - so it will be at least 5 years before I buy a phone that has NFC).
Biting the hand that feeds IT
