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

We could fix mobile security, you know. We don't, but we could

Earlier in the week I blogged about mobile banking security , and I said that in design terms it is best to assume that the internet is in the hands of your enemies. In case you think I was exaggerating… The thieves also provided “free” wireless connections in public places to secretly mine users’ personal information. From Gone in minutes: Chinese cybertheft gangs mine smartphones for bank card data | South China Morning Post Personally, I always use an SSL VPN when connected by wifi (even at home!) but I doubt that most people would ever go to this trouble or take the time to configure a VPN and such like. Anyway, the point is that the internet isn’t secure. And actually SMS isn’t much better, which is why it shouldn’t really be used for securing anything as important as home banking. The report also described how gangs stole mobile security codes – which banks automatically send to card holders’ registered mobile phones to verify online transactions – by using either a Trojan...
Post a Comment
Read more