Lu Jingyi has cut cash from her life for the most part.
“My smartphone is an all-around tool,” said Lu, a games developer in China’s Shenzhen. “I hardly ever need my wallet.”
Whether at the supermarket, the pharmacy, or the cinema – bills hardly ever change hands. Lu simply pulls out her smartphone, scans a code and transfers the money digitally.
Welcome to the future of payment. While in Germany the pros and cons of cash are still being discussed, in China’s Pearl River Delta it’s been out of fashion for some time.
With its smattering of fishing villages, this area was chosen over 30 years ago as the country’s first special economic zone. Now it drives the world’s second biggest economy.
At its heart lies Shenzhen, which has since ballooned to a 10-million-strong metropolis. It’s home to China’s tech heavyweights including Tencent, Huawei and ZTE.