https://www.scmp.com/rss/330768/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Two small private Chinese banks announced last month that they would no longer provide services involving banknotes or coins, in the latest sign that the country is accelerating its march towards a totally cashless society. Zhongguancun Bank, which serves customers in the capital of Beijing, said it would suspend cash services, including over-the-counter deposits and withdrawals as well as cash services on ATM machines, starting from April. Its decision comes after a similar move by another... https://www.scmp.com/tech/tech-trends/article/3165809/chinas-fully-cashless-society-step-closer-after-two-private-banks?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3165809/chinas-fully-cashless-society-step-closer-after-two-private-banks?utm_source=rss_feed Fri, 04 Feb 2022 07:00:26 +0000 Neil Newman Neil Newman I have disappeared into Finnair. Finally cracking under the pressure of not seeing my parents for a year and a half, it was time for a visit to Britain. In the process of gathering all the usual things – passport, cards, cash – I came across a bag of coins. Although accumulating small change is something I try to avoid, I still end up with far too many heavy coins destroying my pocket linings. Leaving Heathrow Airport in a cab, I was reminded how far down the e-payment path Britain has gone. On... https://www.scmp.com/week-asia/opinion/article/3141476/will-chinas-digital-yuan-help-hong-kong-go-cashless-dont-bank-it?utm_source=rss_feed https://www.scmp.com/week-asia/opinion/article/3141476/will-chinas-digital-yuan-help-hong-kong-go-cashless-dont-bank-it?utm_source=rss_feed Mon, 19 Jul 2021 01:00:25 +0000 The world is rapidly moving towards a cash-lite society with the continuing global spread of the coronavirus disease, Covid-19, helping to accelerate the demand for digital payment services. Many people have been not only adopting social distancing measures during the pandemic, but also trying to avoid contact with people through the use of bank notes and coins by choosing digital payment methods or shopping online. In mainland China, 55 per cent of mobile users are likely to buy more groceries... https://www.scmp.com/native/business/banking-finance/topics/design-thinking-imperative/article/3086663/how-design?utm_source=rss_feed https://www.scmp.com/native/business/banking-finance/topics/design-thinking-imperative/article/3086663/how-design?utm_source=rss_feed Fri, 12 Jun 2020 02:30:09 +0000 It’s annoying when any app crashes on your phone, but most of the time it’s just a minor inconvenience. What happens when the app is an integral part of your life, though? Some Chinese commuters learned the hard way Monday morning. In the southwestern metropolis of Chengdu, frustrated subway riders took to Weibo to complain that a transport payment app called Tianfu Tong wasn’t working. Given the size of the city and the popularity of mobile payments in China, a disruption such as this can lead... https://www.scmp.com/digital-life/crashed-app-causes-chaos-during-rush-hour-commute-one-chinas-largest-cities/article/3005159?utm_source=rss_feed https://www.scmp.com/digital-life/crashed-app-causes-chaos-during-rush-hour-commute-one-chinas-largest-cities/article/3005159?utm_source=rss_feed Mon, 08 Apr 2019 12:44:56 +0000 This article originally appeared on ABACUS It’s annoying when any app crashes on your phone, but most of the time it’s just a minor inconvenience. What happens when the app is an integral part of your life, though? Some Chinese commuters learned the hard way Monday morning. In the southwestern metropolis of Chengdu, frustrated subway riders took to Weibo to complain that a transport payment app called Tianfu Tong wasn’t working. Given the size of the city and the popularity of mobile payments in... https://www.scmp.com/abacus/tech/article/3029269/crashed-app-causes-chaos-during-rush-hour-commute-one-chinas-largest?utm_source=rss_feed https://www.scmp.com/abacus/tech/article/3029269/crashed-app-causes-chaos-during-rush-hour-commute-one-chinas-largest?utm_source=rss_feed Mon, 08 Apr 2019 12:44:56 +0000 In China, you can use your face to buy food, thanks to facial recognition, QR codes, and WeChat Pay. But is the convenience worth the loss in privacy? We go to Shenzhen to explore this technological development and understand how close China is to becoming a cashless society. https://www.scmp.com/videos/buying-food-facial-recognition-china/article/3000389?utm_source=rss_feed https://www.scmp.com/videos/buying-food-facial-recognition-china/article/3000389?utm_source=rss_feed Fri, 04 Jan 2019 02:00:06 +0000