September 5, 2017 / 4:32 PM / 21 days ago

Reuters TV: A day in cashless China

A QR code for WeChat Pay to order meals is displayed at a canteen as part of Tencent office inside TIT Creativity Industry Zone in Guangzhou, China May 9, 2017. Picture taken May 9, 2017. REUTERS/Bobby Yip

The first nation to adopt paper money more than 1,000 years ago, China might now become the first to abandon it. The world’s most populous nation is becoming increasingly cashless, with over 70 percent of its population saying they don’t carry around cash on a daily basis.

From unmanned grocery stores where customers can enter and purchase goods with their phones using QR codes, to transportation to dining out, the industry of cashless payments is booming.

Full report here

Reporting by Grace Lee in Beijing

Our Standards:The Thomson Reuters Trust Principles.
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