Chinese retailers warned over mobile money choice

Friday, December 14, 2018

By Michael Carroll

China’s central bank issued an unusual warning to retailers, telling them it is illegal to refuse remittances made with physical cash in favour of mobile and electronic payments.

The People’s Bank of China spoke out after some retailers in major cities began refusing to accept actual cash, while some cities have begun promoting themselves as cashless, South China Morning Post(SCMP) reported.

Photo courtesy of Highways England.

Source: Mobile World Live (link opens in a new window)

digital payments, fintech, remittances