Finance

Payments just got easier in China, where no one wants to accept cash

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A 711 employee accepts a mobile payment from a customer in Shenzhen, China

Uptin Saiidi | CNBC

BEIJING — A few months ago, I got out of a taxi upon arriving at my hotel in Beijing. As mainstream credit cards are uncommon and rarely accepted here, I handed the driver cash.

I couldn’t speak Chinese and he couldn’t speak English. He shook his head fiercely refusing the payment and pointed to his phone. He wanted me to pay through QR code — a popular method for payments in China.

After much back and forth and me telling him I didn’t have WeChat Pay or AliPay, I handed the cash to the hotel door staff. The staff member didn’t have any cash on him to provide change (we decided to let it go),…



Source cnbc.com

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