True News: Is China launching the world into a cashless society, with companies like WeChat and Alibaba providing the jet fuel?
WeChat is a multi-functioning mobile Chinese social media app with 938 million active users globally (almost 1/7 of the world’s population), and 494 million in China alone, making up 79.1% of all mobile phone messaging app users in the country.
Reuters reporter Sijia Jiang wrote that WeChat Pay and Alipay, Alibaba Group Holding Ltd’s electronic payment app, are “turning China cashless by enabling payments or money transfers at the convenience of a code scan.”
According to consultancy Analysys, WeChat Pay and Alipay dominate China’s mobile banking market, which totaled 18.8 trillion yuan or $2.76 trillion worth of transactions in the first three months of 2017. more …
Opinion: The Chinese were at first reluctant to even use credit cards because they were reluctant to incur debt. So the new technology is tied to debit cards.
Here in the good ol’ USA, credit cards are rampant and in them are microchips making transactions easy while debt is piling up to the moon. The world is very used to carrying a minimum amount of cash.
Two close friends tell me they stopped using cash a few years ago.
The change over to a cashless society will be a piece of cake. Digital money is safe, easily transferred and theft proof. And it is a necessary plank in the government of a future world dictator to control every transaction everywhere in the world, Revelation 13:16-17.
Borrowing a phrase from the 1970’s TV show Six Million Dollar Man … we have the technology.