Skip to main content

Why millennials are driving cashless revolution in China | Financial Times

xxx

"‘Considering how many Chinese people pay for groceries, daily meals and entertaining with smartphones, that scale of data accumulation is beyond our imagination,’ says Ms Cai, who adds that despite her concerns about privacy, mobile payments are just too convenient to opt out from.

But she is cautious, too, about where this path may be leading, adding: ‘Whether we are constructing a futurist society or a cage for ourselves, I cannot tell.’"

From "Why millennials are driving cashless revolution in China | Financial Times".

xxx

Comments

Post a Comment

Popular posts from this blog

Euro area card payments double in a decade

xxx "The number of card payments in the euro area have more than doubled in a decade as consumers increasingly dispense with the hassle of carrying notes and coins, according to the latest statistics from the European Central Bank. In 2018, card payments accounted for almost half of the total number of non-cash payments across the single-currency area. Credit transfers and direct debits were the second and third most common non-cash payment methods, accounting for approximately 23% each, while e-money and cheques together made up around seven percent. However, the relative popularity of each type of payment service still varies widely across euro area countries. In 2018 card payments accounted for just over 70% of all non‑cash payments in Portugal, compared with around 23% in Germany. The stats show that the number of card payments made by consumers and businesses has more than doubled in the last decade, with an average of 121 card payments per capita in 2018, compared with
Post a Comment
Read more