CX Spotlight by Fifth Quadrant

Cash is (almost) dead. Long live mobile payments.

The origin of cash can be traced back to the eighth century, when citizens of China's Tang Dynasty began to use what they called "flying money"(飛錢), due to its likelihood of being swept away in a breeze. 

Fast forward to today, and cash is facing a new challenge more fatal than wind: digital and mobile payments. In 2016, third-party payment services led by Alibaba (39% of the market) and Tencent (27%) grew to around USD$5 trillion in China, which is almost half of the country's GDP.  

Topics: Customer experience CX Articles & Insights consumer research

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