No cash? Your smartphone will do nicely. Chinese consumers who are used to spending their cash on technology are increasingly relying on a tech solution to pay for just about anything, from breakfast to booking a vacation.
To see how far I could go in Beijing without a wallet, I spent a day armed only with my smartphone.
A beautiful day started with a great breakfast. I paid for a local delicacy called jianbing at a food stall (摊位) with my smartphone. By scanning a QR code (二维码), I transferred six yuan to the stall owner.
I then passed a small supermarket – each checkout counter carried a sign that proclaimed: “Welcome to use mobile payment!”
When it comes to transportation around the capital, you can order a cab or a private car through ride-hailing services (叫车服务). Mobile payment is accepted. If you don’t fancy waiting in traffic, there are also bikes for rent. You can unlock these bikes by scanning a QR code and pay a very cheap rent for the ride.
Many shops have incentives to use mobile payment services because this way they can engage customers better. After I paid for a sandwich and a cup of coffee at a restaurant with my smartphone, the waitress asked me to “follow” their public account so they could send me coupons (优惠券) and a virtual membership card. On the door of a nearby fashion boutique (时装店), there was another sign: “Welcome to use mobile payment!” Shops also accept credit cards, but not using mobile payment may be considered backward.
Mobile payment goes beyond daily purchases. You can also pay utility bills and credit card bills, or invest in money market funds.
From food stalls to shopping malls, almost every place I stopped by in this corner of Beijing accepted mobile payment. When making a purchase, all I needed to do is tap on the phone, scan the QR code, and make the payment in a second or two. Mobile payment has really changed the way of life in China. Chinese shoppers nowadays do not have to carry cash around; they just need to carry their phones around. Cash really is becoming a thing of the past.