Tuesday
January 29
2019

Is North Korea Moving Toward a Cashless Society?

By Tae-jun Kang

It is not new to see many countries beefing up efforts to move toward a cashless society. Look at China as an example – far from limiting itself to fancy shopping malls or big chain stores the use of mobile phones as a payment method is nearly ubiquitous there. Restaurants, bookstores, coffee shops, and even traditional street markets or street vendors accept mobile payment there.

Similar examples can be found in many places around the world these days, but it might be surprising to hear that one of them is North Korea, the most isolated country in the world.

Photo courtesy of Ava Systems.

Source: The Diplomat (link opens in a new window)

Categories
Finance
Tags
cashless, DFS, digital finance, digital payments, fintech