By Martin Gøttske
The QR code is driving China’s rapid shift towards a cashless society and is already changing Chinese social behaviour. The little barcode is used to make payments both in supermarkets and to street pedlars, to purchase products on the Internet, to rent bicycles, tip waiters – even beggars are reportedly using the QR code to collect hand-outs.
Payments made via mobile devices by Chinese consumers last year reportedly reached 38 trillion yuan, more than half the nation’s GDP. The amount of mobile payments in China is now 50 times greater than that of the US.
South China Morning Post: