In City China, Coins Is Swiftly Becoming Obsolete

It has to do with cash — specifically, how China is systematically and rapidly doing away with paper money and coins.
One friend didn’t realize how reliant she had become on mobile payments until her bank called her.
What’s happening with cash in China is similar.
Only three years ago there would be no question at all, because everyone was still using cash.
I knew that smartphone payments were taking over in China, as the statistics were stark: In 2016, China’s mobile payments hit $5.5 trillion, roughly 50 times the size of America’s $112 billion market, according to consulting firm iResearch.

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