For the first time Chinese e-cash spent in overseas store exceeds physical notes

Having been enormously encouraged by Chinese leading payment platforms, namely Alipay and WeChat Pay, Chinese people are ever more utilizing mobile payment methods and discarding cash transaction. Even when traveling abroad, they are forming the habit of doing the same – The “2018 trends of Chinese mobile payment in outbound tourism” demonstrated that the outbound Chinese tourists continue to embrace mobile payment while overseas merchants enjoy the benefits of wider adoption. Mobile payment has long been considered as a substitute to credit cards whose development in China is lagging behind other countries, while it appears to be overtaking the traditional cash payment now.