We have heard that China is a cashless society, and that our credit cards would not work in China. The magic words are WeChat and Alipay, but to use them in China, you needed a Chinese bank account.
Apparently, about 6 months ago, China allowed the linking of foreign (ie us) cards to WeChat and Alipay. Kin Mun duly signed up, but wasn't able to test it in Australia - it only worked in China. So he was anxious, but aware that we had a guide who would help us.
On our first day, we went for a walk in a park in Foshan, and saw a vendor selling sweets, equipped with his own QR codes. This was KM's first test of the digital payments, and with the guide's help, it worked! We walked away with two packets of sweets.
Later on, at a supermarket, we had the big business version.
I didn't sign up. So whenever I wanted to buy something, I had to call Kin Mun. He was only too pleased to try the system again! He is reassured to know that he can now travel independently in China.
What to make of this? For us, all went well. Just don't forget your phone. Transactions go from one person's digital wallet to the other fellow's wallet. No fees involved - mostly But the bigger picture is beyond me. Who benefits? I don't know the answer to that. Certainly the banks/card companies don't get the card fees as they do in Aus. so I can imagine they would find all sorts of reasons not to implement this system.