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Grassroots NPC deputy proposes cashless cities (China)

Grassroots NPC deputy proposes cashless cities

By Jin Dan | chinadaily.com.cn | Updated: 2017-03-10 15:23  

Grassroots NPC deputy proposes cashless cities

Yu Chun (third from right) and her colleagues pose for a photo in front of the bus she drove for 28 years on the day of her retirement. [File photo from web]

Hangzhou impressed the world with its cashless urban life when it played host to the G20 summit last year. Now an NPC deputy from the city has proposed at the ongoing annual two sessions in Beijing that the success should be replicated across the country.

Yu Chun, a 50-year-old retired bus driver in Hangzhou, capital of East China's Zhejiang province, is one of those deputies who pay close attention to how a policy can be used to bring far-reaching changes through digital payment.

Yu said in her suggestion that the foundation for cashless society is already solid in the nation as the value of third-party mobile payment reached 38 trillion yuan ($5.5 trillion) in China in 2016.

As a former bus driver, she is the best person to explain how convenient a cashless life is. In her 28-year-long career, she saw many passengers fumbling and looking for coins. "I usually collected 500 to 600 yuan in fares in one shift, but most of the money was in coins," she said.

According to her, it's very inconvenient to pay by cash, especially by coins, not only for passengers but also for the bus operators. "The bus companies collect tons of coins and counting them is not easy to say the least."

read more:
http://www.chinadaily.com.cn/china/2017twosession/2017-03/10/content_28510582.htm

"We are shaped by our thoughts; we become what we think. When the mind is pure, joy follows like a shadow that never leaves."

Comments

  • Rosie_MOD_Rosie_MOD_ Moderator

    Cashless in China: Testing out digital wallets

    Technology 01 Mar 2017  from In the Black
    At a market stall in Wenzhou Zhenjang Province customers can scan the QR code and pay for their meal through Alipay

    At a market stall in Wenzhou, Zhenjang Province, customers can scan the QR code and pay for their meal through Alipay.

    How far can one get without a wallet in Beijing? We put Alipay and WeChat’s digital wallets to the test, from breakfast to cocktails.

    By Joseph Catanzaro

    It’s morning in Beijing, China’s capital, and I’m hunting down breakfast on streets that are coming to life with foot traffic and scooters. I settle on a jianbing, a sort of Chinese breakfast wrap. A few minutes of chopping and sizzling later, the middle-aged woman at the roadside stall hands me my food. I reach for my wallet instinctively. It’s not there, and I have no money on me.

    In much of the world, I’d now be in a somewhat embarrassing position, but not in China, where an increasing number of people – myself included – now intentionally leave their wallets at home.

    “A scowling lady completes the sale by scanning a QR code on my phone... Even digital money can’t buy you love.”

    The food vendor and I both whip out our smartphones and open up WeChat, China’s popular messaging app. She presents her phone’s screen and I scan a QR code displayed on it using my phone’s camera. I type in the cost of my breakfast and enter a personal pin code. Within seconds, our transaction is done. Welcome to 21st-century China, a nation that’s fast becoming a cashless economy.

    ATMs in short supply

    read more:

    https://www.intheblack.com/articles/2017/03/01/testing-digital-wallets-in-china


    "We are shaped by our thoughts; we become what we think. When the mind is pure, joy follows like a shadow that never leaves."

  • Rosie_MOD_Rosie_MOD_ Moderator

    Commonwealth Bank is bringing China's Alipay to Australia

    Oct 31, 2016, 10:41 AM  from Business Insider
    A Chinese tourist takes photos of Merino sheep in Sydney. Peter Parks/AFP/Getty Images

    The Commonwealth Bank has signed a deal with Alipay which will make it easier for Chinese tourists to spend here and for Australians who want to do business with China’s giant ecommerce platform Alibaba.

    The agreement is with Ant Financial Services Group, the Alibaba affiliate said to be China’s most valuable financial technology company, which runs AliExpress, a platform for Chinese merchants to sell to global consumers.

    The Commonwealth and Alipay will also work together on a simple payment solution to allow Chinese tourists and Chinese students to use Alipay in‐store payments at Australian retailers.

    “We are thrilled to be the first Australian bank to collaborate with Alipay,” says Kelly Bayer Rosmarin, group executive, institutional banking and markets, Commonwealth Bank.

    Read more

    https://www.businessinsider.com.au/commonwealth-bank-is-bringing-chinas-alipay-to-australia-2016-10




    "We are shaped by our thoughts; we become what we think. When the mind is pure, joy follows like a shadow that never leaves."

  • Matt_ADMIN_Matt_ADMIN_ Administrator
    Going cashless in China is probably easy, since no one has any West of the capitalist coast. Those Merino rams are beautiful creatures!
    -------------------
    "...Say, 'GOD is sufficient for me.' In Him the trusters shall trust." (Quran 39:38)
  • Rosie_MOD_Rosie_MOD_ Moderator
    A cashless China will certainly take the fun out of bartering at the markets.

    "We are shaped by our thoughts; we become what we think. When the mind is pure, joy follows like a shadow that never leaves."

  • Matt_ADMIN_Matt_ADMIN_ Administrator
    Since the very idea of bartering makes me uncomfortable, I have no problem with that, lol. Maybe everyone can barter about something different instead? Perhaps a dance could be done before the credit card is swiped, and the buyer and seller can barter whether the dance was entertaining enough.
    -------------------
    "...Say, 'GOD is sufficient for me.' In Him the trusters shall trust." (Quran 39:38)
  • Rosie_MOD_Rosie_MOD_ Moderator
    Bartering doesn't cause any discomfort at all.  One of my early attempts in China resulted in the seller saying "too high!".  I quickly rectified my error, offered half that price and walked away with my item.    Basically the advertised price could be taken to be double the true market price and that profit  is built in for those who prefer not to barter. 
    After that experience I discovered most white goods chain stores have around 6% built in (that's on top of their normal profit) and had no trouble getting up to AU$80 or so off most things without even appearing ready to walk out the door to another store.
    So basically there's the real profit the seller needs and then there's the cream for those who are willing to pay it.   Sellers in China actually enjoy the bartering though as you say Matt, not all Westerners feel comfortable with it.

    "We are shaped by our thoughts; we become what we think. When the mind is pure, joy follows like a shadow that never leaves."

  • Matt_ADMIN_Matt_ADMIN_ Administrator
    Bartering doesn't cause any discomfort at all.  One of my early attempts in China resulted in the seller saying "too high!".  I quickly rectified my error, offered half that price and walked away with my item.    Basically the advertised price could be taken to be double the true market price and that profit  is built in for those who prefer not to barter. 
    After that experience I discovered most white goods chain stores have around 6% built in (that's on top of their normal profit) and had no trouble getting up to AU$80 or so off most things without even appearing ready to walk out the door to another store.
    So basically there's the real profit the seller needs and then there's the cream for those who are willing to pay it.   Sellers in China actually enjoy the bartering though as you say Matt, not all Westerners feel comfortable with it.
    In truth, it makes me uncomfortable because in real life I'm a quiet person who doesn't say all that much, so walking up to someone and confronting them on a price seems like something I would surely botch.

    "Too high! Wait, where you go?"
    *cut to scene of Matt boarding a plane to Thailand*

    However, I'm intrigued by your story - so you're saying that the merchant actually helped you out by letting you know you were offering too much money? Can you expand on this? I'm really interested in hearing more.
    -------------------
    "...Say, 'GOD is sufficient for me.' In Him the trusters shall trust." (Quran 39:38)
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