The Fly Or Die Commerce Report: Is Cash Becoming Obsolete In China?

Written By: Elsie Law - Oct• 22•17

According to Business Insider, cash is decreasingly becoming a valid form of payment in China. Mobile payments made via smartphones has become increasingly popular in the country.

Business Insider states that: “Last year, the volume of mobile payments in China more than doubled, surging to a total of $5trillion…A research investment company based in Hong Kong, predicts that electronic payments in China will reach a volume of $45 trillion by 2021.”

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