#xsocialgroup #chinasocialmedia #mobilepayment #cashless

After Alibaba declared the first week of August “Cashless Week”, followed by WeChat naming August 8th “Cashless Day” and this entire month “Cashless Month”, a new research was published to illustrate how mobile payments are becoming a part of Chinese people’s everyday life.
Check out some of the key insights:
1. Mobile payments have skyrocketed in 2016.
2. Young people (especially women) are leading the cashless trend.
3. Chinese people have almost no money in their wallet -- and they don’t care.
4. Geographical differences are small, but rural-urban divide is still an obstacle.
5. Mobile payments have conquered the service industries.
6. Social credit systems are here to stay.

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Source: Technode

By X Social Group posted August 16, 2017