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September 13, 2017

319 Noodle House: Scan, Slurp, Repeat

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Shanghai -- These days, you won’t find anyone reaching for their wallet while dining out in Shanghai. Cash has become almost obsolete as virtual currencies corner every last slice of the retail payment market.Read more
Shanghai -- These days, you won’t find anyone reaching for their wallet while dining out in Shanghai. Cash has become almost obsolete as virtual currencies corner every last slice of the retail payment market. QR codes and app-based systems are the new normal, even for transactions less than the equivalent of US$1 (like our beloved breakfast street food staple, the jianbing).

According to a recent New York Times article, mobile payments in China hit US$5.5 trillion in 2016. Yes, with a “T”. And 2017 is sure to be another banner year as AliPay, WeChat Wallet, Apple Pay and others continue to fight for market share.Read more