China could become the first country to stop using paper money
Nowadays, mobilepayment platforms such as wechat, Alipay has become more and more popular.Analysts forcasted on July 24 that, as the first country in the world to usepaper money, China is expected to also become the first to stop using papermoney due to the soaring popularity of mobile payment platforms.
Currently, moreChinese consumers are getting used to paying for daily expenses with theirsmartphones instead of cash. Rapid development of online shopping ande-commerce has created a good environment for digital payment consumption inChina.
The mature onlinepayment system makes it possible for Chinese consumers to become the first tostop using paper money in the world, according to analysts.
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