Cashless China - China’s latest business and technology news - SupChina

Cashless China – China’s latest business and technology news

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Until about 2015, commerce in China relied heavily on cash. While ATM cards were already widely used, many small stores did not have card reading machines, and it was never a good idea to go out without cash in hand. But in the two years since then, mobile payment systems have become so common that everyone from Starbucks to streetside beggars use them.

The dominant payment systems are WeChat Wallet from Tencent, and Alibaba’s Ant Financial. On Observer.com, Chiu-Ti Jansen has a good roundup of the current state of digital payments in China, and promotional activities like the upcoming Ant Financial “Cashless Society Week.”


Jeremy Goldkorn

Jeremy Goldkorn is co-founder of the Sinica Podcast and currently edits SupChina and its daily newsletter.