Fewer People Carry Cash in China
As mobile payments have become increasingly popular in China, about 14 percent of Chinese no longer carry cash when they go out, according to results of a recent survey conducted by Renmin University, Tencent Holdings Ltd. and French market research firm Ipsos. Another 26 percent of Chinese consumers carry less than 100 yuan (US $15), and about 74 percent of respondents said they can survive more than one month with only 100 yuan cash. The survey also indicates 84 percent of people in China are "comfortable" going out with only mobile phones and without cash.
Wechat Pay is the main mobile payment method for Chinese consumers, according to Ipsos.