Cashless Society, How China Become Mobile First Country, World Largest Mobile Economy

Cashless Society, How China Become Mobile-First Country, World Largest Mobile Economy
China is leading the cashless revolution. They are trying to reveal what a cashless society means for the world moving forward.
Paying through mobile phones has become second nature for the majority of Chinese. By the end of 2021, around 903.6 million people utilized mobile payments in China, which equals roughly 64% of the overall population. In China’s largest cities, residents pay on average 80% of their monthly expenditures (roughly 5,000 Yuan) through mobile payment services, while in fourth- and fifth- tier city residents use these means for 90% (3,000 Yuan) of their monthly expenditures, according to a 2021 China UnionPay report.
By the end of 2022, the cumulated digital payment value in China is set to reach 3.5 trillion USD, making the country a clear global leader for digital payments, followed by the United States with 1.8 trillion USD.
00:00 - Intro
01:32 - COVID-19 Boosted Online and Mobile Payments in China
03:40 - The History Of Mobile Payment in China
04:28 - How Does Mobile Payment Work in China?
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#Cashless #chinatechnology #CashlessPayment

[@a.d.5121]

It’s been cashless for eight years in China, it feels backward to use cash and credit card when moved to England in 2018

[@angadchauhan5802]

Happily now India is leading in it.
Thanks to NPCI and UPI.

[@lubekujang5609]

india propoganda😁😁😁

[@angadchauhan5802]

@@lubekujang5609 Ok just google it

[@risingsun1156]

I hope India will be as good as china in every aspects

[@weiwei1557]

@@risingsun1156True

[@xuanyuhuo619]

By copying china’s QR payment system LOL

[@heryxrxr7600]

What voice generator do you use for yore video

[@user-nc9pm6qt7c]

、it's beautiful!!!

[@stephaniecarcamo1980]

What garabge is this. No thank you I'll keep my cash. Sounds like hell and the mark of the beast.

[@surijosuperbaby]

No batteries no internet no money

[@delusionalz8707]

Maybe you should live under a rock!!😂

[@AshutoshMishra-no6dx]

Iam fullly digitalize over 5 rupye payment i pay digital

[@mrzack888]

This fights counterfeiting of physical cash and coins. Thus the currency becomes stronger.
What is modern money? It is a form of accounting. And as long as the accounting is trustworthy, then it is money. So money is accounting. And accounting uses Math. So money is math. As long as the math is good, then the currency is good and is money.

[@user-ki2bq6kd7s]

And hit the thief

[@enkiai6462]

Yay cashless sociaty awesome im cashless society

[@user-ki2bq6kd7s]

in China。the seller say no to RMB Is illegal.

[@answerhsiao0610]

Now even homeless people on the streets support mobile payment collection. You can no longer find an excuse to say I didn’t bring any change.

[@jamestakashiro5660]

American need the same thing, so they can buy bitcoin and bitcoin can move to the moon

[@KlarenceMS]

less inflation less printing money bills burn dollars

[@jaihanumanji1122]

🇮🇳 india is leading

[@korealee1451]

😢😢😢!!!

[@thj2446]

😢😮😅😊😂

[@Chinasaige]

😅😅😅

[@jaihanumanji1122]

@@Chinasaige you cann Google ity friend....ohhh its banned in china and RUclips is also ban

[@yirou-mr6rb]

😢😢😢😢

[@calioumarx4289]

Stop lying somalia is first country cashless society last time people off somalia carry cash is 11 years ago all need phone numbers kenya was second china india maybe this new technology