Few points:

1. NFC is catching on in China (with Alipay), even face scanning for payments.

2. I would not say it is frictionless. Especially for foreigners (and the ~200 USD per day limit...just to name an example).

3. Translate in Alipay is there, but useless in restaurants (Yummy Duck Shit Tea!).

4. No mention of Wechat?

5. 'The rules' very much apply to Alipay and Alibaba, where is Jack Ma ;)

6. This is not 'the web'.