This is a selection of resources on China’s rising cashless society available from the NLB catalogue or the Internet and is not meant to be an exhaustive list. If you know of or come across more useful resources, please drop us a note so that we can share them with our readers.
Results from a 2017 online survey of over 6,500 respondents in China revealed that going cashless is a trend that is increasingly being embraced by young people, especially women, in the country. The use of mobile payments has become widespread in the food and beverage, retail, entertainment and travel sectors.
Facial recognition technology is quickly gaining traction in China and is poised to transform how people interact with banks, stores and transportation services. Alipay, a mobile payment app, enables people to pay by using facial verification, while Didi, a ride-hailing company, allows passengers to use facial recognition software to verify the legitimacy of their drivers.
Before the end of 2017, Chinese shoppers will be able to use Baidu’s digital app to make payments at PayPal’s 17 million merchants worldwide, in a tie-up between the American payment company and the Chinese tech giant.
China has set up a national clearing house for banks and online payment systems in order to route transactions starting from 30 June 2018. This move will help regulators track and monitor the capital flows from online transactions thereby creating a safer Internet payment environment for consumers.
Take a tour of a Hema Supermarket and experience “new retail”
This video introduces the Hema Supermarket in Shanghai, Alibaba’s “new retail” concept that merges online and in-store shopping to provide a seamless and more efficient shopping experience for consumers. Shoppers only need to download a mobile app and use their mobile phones to do the shopping by scanning barcodes to get instant product information.