cashless society

China Fines Businesses For Refusing Cash Payments In A Bid To Be More Tourist-Friendly

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China Fines Businesses For Refusing Cash Payments In A Bid To Be More Tourist-Friendly

China’s Central Bank cracked down on seven businesses last week, including a KFC and state-owned firms, for refusing cash payments. The move comes as Beijing prioritises making spending easier for foreign tourists. The People’s Bank of China has long imposed such penalties. However, this time, the targeted employees worked for major corporations, highlighting the pervasiveness … Read more

China’s Alipay and WeChat Pay ease the way for foreign travellers to make payments in world’s largest cashless society

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China’s Alipay and WeChat Pay ease the way for foreign travellers to make payments in world’s largest cashless society

Alipay’s annual cumulative transaction limit for foreign visitors has also been increased to US$50,000, up from the previous US$10,000 limit, in line with a new People’s Bank of China policy, the group said. 02:40 How mobile payments impact people’s lives in China How mobile payments impact people’s lives in China Tencent on Thursday said foreign … Read more