Reference News Network reported on January 1 Spain, "Le Monde" December 26, 2017 Reporter Ismail Arana published a report entitled "There is no cash in China", the article excerpts are as follows:
With the rapid development of cashless payment systems everywhere in China, customers can pay with their mobile phones, whether in luxury stores, fast food restaurants or on street side stalls. With this payment method, the wallet seems to be going to Completely disappeared from the Chinese pocket.
A young entrepreneur in the southern Chinese city of Shenzhen said in an interview: "Mobile payment is faster and easier.I have been out of cash for almost a long time and almost always pay by mobile phone." Many Chinese are like this interviewee According to a survey conducted by Ipsos and Morris Market Research and Tencent, about 14% of Chinese go out without wallet and 26% carry cash with less than 100 yuan RMB.
This phenomenon is more common in urban areas than in rural areas, and from Heilongjiang Province to the Tibet Autonomous Region, more and more Chinese are using their smartphones for rent, buying drinks from vending machines, ordering take-outs, charging and paying bills, and purchasing shows Tickets, etc. According to a survey conducted by the 'Better-than-cash' coalition, the proportion of electronic payments in the retail industry soared from 3.5% to 17% between 2010 and 2015.
Experts believe that China's payment revolution is one of the largest technological innovations in Chinese history, led by Alipay Group's high-tech giant Alipay and Weixin's Weixin payment, both of which are in China's mobile payment market Which accounted for 54% and 40% respectively, accounting for 30% and 22% respectively of the total electronic payment market.
Alipay and WeChat pay are based on two-dimensional code, this black and white square grid can store the amount of information is a code more than 300 times.
In 2016, 95% of China's 713 million Chinese Internet users were able to surf the internet through their smartphones, of which more than 470 million were online through mobile devices. According to the iResearch survey, the online transaction volume soared to 5.5 trillion The euro (about 4.3 billion yuan), which is double the number in 2015, is the world's second largest online payment market - the United States 50 times.