China's Great Leap to Wallet-Free Living

No cash? No problem. A trip to the Chinese city of Shenzhen highlights how the explosive growth of mobile payments is driving a wallet-free society

In China, there are now over 650 million smartphone users -- almost double the entire population of the U.S.

And the Chinese are moving en masse to adopt mobile-payment technology. In 2017, Chinese consumers spent $9 trillion dollars via mobile payments, compared with $112 billion in the U.S.

In this video, we visit Shenzhen to see how the ubiquity of mobile devices smartphones in Chinese society is driving mobile innovation in a variety of emerging industries -- notably financial tech.

By Moving Upstream - Originally published at this link