China is the future of Japan. The day when there will be no more cash, no more wallet, no more ATMs, no more banks.
Beijing after 6 years. It’s changing rapidly. Again, the only cash I have here is for admission tickets to tourist attractions.
You can’t shop or eat without WeChat, and no service that is not tied to WeChat can survive. DiDi, China’s version of Uber, and Nekoyan, China’s version of Ticket Pia, both use WeChat, making it easy to pay for everything at once.
Incidentally, there are quite a few restaurants that do not accept credit cards unless they are linked to a Chinese bank.
You don’t need cash or a wallet with credit cards in it. If you don’t need these things, you don’t need ATMs. No more banks.
But if I forget my phone, I can’t do anything! It comes down to the fact that all you need is your own trust.
What is happening in China is the Japan of the future.