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#Smartphone App: replaces #money


 
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#1 eds

eds

    Shifted

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Posted 28 January 2019 - 07:02 AM

China is systematically, and rapidly doing away with:
. . . . . . credit cards,
. . . . . . paper money, and
. . . . . . coins.

Almost everyone in major Chinese cities is using a
. . . smartphone to pay for just about everything.
At restaurants, a waiter will ask if you want to use:
. . . . . . WeChat, or
. . . . . . Alipay,
. . . the two smartphone payment options.

Just as startling, is how quickly the transition has happened.
. . . 3 years ago, everyone was still using cash.
In 2016, mobile payments in China hit,
. . . $5.5 trillion, roughly 50 times the size of America’s,
. . . $112 billion market.

1-28-2019 Source:  #Smartphone App: replaces #money

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