* Experts agree that it is becoming a growing trend that more and more consumers across the country are using cashless payment methods.
In fact, as early as 1988, the State Council released (31)
to encourage bank transfers and to reduce using cash during economic activities. Today, the move toward a cashless society could “reduce the risks of using cash, save on costs and as a matter of convenience, prevent (32)
activities such as money laundering(洗钱),” Dong Ximiao, a research fellow at Chongyang Institute for Financial Studies at the Renmin University of China, told the Global Times.
But China is not the first country to seek a cashless society. Developed states like Sweden, Denmark and Singapore are also (33)
the increase of cashless payment. The rapid development of cashless payments does not mean there are no challenges and (34)
.
Alibaba’s Hema store, where customers can shop, dine and order goods for delivery from their mobile phones, have come into the spotlight recently. Media reports said that consumers can’t purchase goods with cash there, which would be considered illegal. A Hema PR representative told the Global Times that all 13 Hema stores in the country do in fact allow consumers to pay in cash. She noted that Hema store simply (35)
consumers to pay via Alipay for convenience purposes.
Alipay and WeChat Pay, the nation’s two major third-party mobile payment tools, also (36)
campaigns this month to encourage more merchants and customers to use cashless payment methods. Both called for the establishment of a “cashless society”, which caused (37)
over whether cash will soon disappear. Dong (38)
that a cashless society would not mean that cash would completely disappear. “As the economy grows, the (39)
of cash is still very huge,” noted Dong.
“Also, it’s important to remember that nearly half of China’s population lives in rural areas, especially in undeveloped western regions, and therefore is not able to enjoy (40)
brought by the Internet,” Dong said. “And when it comes to China’s senior citizens,most of them prefer to use cash in their daily life,” he added.