The "cashless society" is now approaching. Mobile payment transactions in China reached a cumulative total of 277.4 trillion yuan in 2018, top-ranked in the world, according to the recently-released "Statistical Report on Internet Development in China." As of June 2019, there were 633 million online payment users in the country. This episode of "This is China: The Cashless Era" explains why Chinese people spending a day without cash or bank cards is perfectly unremarkable. #ThisIsChina #2020TwoS
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The "cashless society" is now approaching. Mobile payment transactions in China reached a cumulative total of 277.4 trillion yuan in 2018, top-ranked in the world, according to the recently-released "Statistical Report on Internet Development in China." As of June 2019, there were 633 million online payment users in the country. This episode of "This is China: The Cashless Era" explains why Chinese people spending a day without cash or bank cards is perfectly unremarkable. #ThisIsChina #2020TwoS
312.8K viewsMay 24, 2020
FacebookCGTN
A lot of people outside China assume it's already a cashless society—or plans to become one soon—based on how prevalent digital payments are here, especially among younger generations. And it's true: most days you'll rarely see anyone use cash, and futuristic options like paying by scanning your hand already exist. But that convenience isn't about eliminating physical currency. It's simply about making life easier. In fact, many people still prefer cash to this day, and very recently, all busine
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A lot of people outside China assume it's already a cashless society—or plans to become one soon—based on how prevalent digital payments are here, especially among younger generations. And it's true: most days you'll rarely see anyone use cash, and futuristic options like paying by scanning your hand already exist. But that convenience isn't about eliminating physical currency. It's simply about making life easier. In fact, many people still prefer cash to this day, and very recently, all busine
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