The death knell for cash

By | September 25, 2017

I was at Fuxhou Lu today browsing the art shops in the rain. I was hungry and one of the shopkeepers said I could get some nice dumplings around the corner at the juncion of Hankou Lu. He was correct – they were brilliant and cheap. On my way back to Fuzhou Lu I spotted this cafe which, as far as I have seen in Shanghai, is the first place which refuses cash.

It is true that most young people here do not use cash, prefering to use wechat and alipay in shops and restaurants. I am no exception but I like to carry a bit of cash just in case. In fact the only place I have needed cash is at the metro when I have forgotten my metro card. My iPhone is no good to me when it comes to Metro tickets.

Apart from that, I can, and do, use my phone to pay for everything. Even the cheapest noodle bar has a bar code to scan. I have seen a picture of a beggar with a QR for donors to scan but I’m really not sure this is real or fake news. I am yet to see it with my own eyes.

Beggars are unforseen casualties of this move away from cash – without a smart phone it is impossible to accept and pay using QR codes. And if nobody is carrying cash these days, beggars are going to be hit hard. Mind you, how many are real – I have seen a handful of fake beggars since I have been in China. Fake beggars on the metro are my pet hate, especially those who use children to loosen passengers’ purse strings easier.

And so it starts – the cashless economy – better get your phone enabled with QR payment software or you’ll be struggling to buy even a coffee.

Leave a Reply

Your email address will not be published. Required fields are marked *