China is largely a cashless society, dominated by mobile payment apps like Alipay and WeChat Pay, used by most people daily for everything from street food to transport, though cash is still legal tender and essential in rural areas or for elderly users. While foreign credit cards faced challenges, they can now be linked to these apps, but cash remains necessary for some small vendors or as a backup, especially in less developed regions.
Every store in China, from supermarkets and convenience stores to market stalls, accepts WeChat and Alipay as a method of payment. While cash and card payments are still accepted in major shopping centres, they are becoming less common, even in remote areas where most vendors now prefer WeChat and Alipay.
Is China completely cashless? China is not entirely cashless. While mobile payments account for the majority of transactions, the People's Bank of China is taking steps to ensure cash remains in circulation.
Sweden has officially become the first country in the world to go completely cashless. Almost every shop, café, and public transport system in Sweden now accepts only digital payments like cards or mobile apps. The popular app “Swish,” launched in 2012, is used by millions of Swedes to send and receive money instantly.
The world's second-largest economy has undergone rapid digitization, and all daily transactions – from supermarkets to cafés, taxis to public transportation – are now made with one of two apps that have become vital to life in China: WeChat or Alipay.
China Just Made a Big Play to Choke the US Economy
Do they prefer cash or card in China?
Notice about Spending Money💰in China China is now almost completely cashless, with most people paying through Alipay or WeChat Pay. Credit cards (Visa, Mastercard) are accepted at major hotels, larger restaurants, and tourist stores, but not at smaller local shops.
The UK is rapidly moving towards being a low-cash, but not fully cashless, society, with digital payments dominating, yet cash remains crucial for millions, especially vulnerable groups, leading to government efforts to protect access via legislation, banking hubs, and ATMs, even as some businesses go card-only and digital ID plans emerge. While cash use has plummeted (less than 10% of payments in 2024/25), the Bank of England and officials stress that a completely cashless system isn't feasible or desirable yet, focusing on maintaining choice and access for everyone, including the elderly and low-income individuals.
According to the Swedish central bank, only 8% of the population used cash in 2022, and the amount of physical currency in circulation has dropped by half since 2007. With digital wallets, instant mobile transfers, and biometric identification, daily transactions in Sweden have become almost entirely virtual.
Overall, around 39 per cent of UK adults lived largely cashless lives throughout 2023. However, the number of people mainly using cash actually rose to 2.6 per cent (an increase from 1.7 per cent in 2022). For now, cash remains the second most frequently used payment method in the UK.
You can buy four carrots or four onions, 10 green chilies, 1. 2 kilograms bananas, two kilograms oranges, This is a specialty snack store. And $1 can buy two Oreos, or four cans of Coke, two Snickers, a chocolate bar, and what a $1 lunch looks like.
There is also probably a consideration of central bank sovereignty over monetary policy. The PBOC aims to assert its authority. It is illegal in China to reject cash payments, no matter what the preferences of merchants are.
The risk of other crimes such as identity theft, account takeovers, and fraudulent transactions will also increase when digital payments become the only option. Many banks are also relying on outdated infrastructure with decades-old IT systems increasing the risk of glitches, crashes, and mistakes.
The big problem with credit cards in China is fraud: banks like ICBC will put the burden of proof on the card holder when a fraud transaction occurs, rather than the merchant as in the west.
In China, forget about bulky wallets and cash. Digital payment apps have become the preferred way to pay for everything, from grabbing a tasty bite on the street to making rent payments. These mobile wallets have become so integrated into daily life that they are the go-to payment method for almost any transaction.
False. The British government has not announced rules that ban cash payments above 10,000 pounds or that require identity checks for payments above 6,300 pounds from 2027. This article was produced by the Reuters Fact Check team. Read more about our fact-checking work.
Cards and cashless payments are the primary payment methods in the USA. Although cash is slowly becoming less common, it's still wise to carry a small amount to be prepared for any situation.
In November 2025, Sweden became the world's first cashless society, relying entirely on digital payments with the journey accelerated by a 2012 mobile app developed by major banks.
It is not illegal to keep cash at home in the UK, but it should be stored securely to mitigate risks. The amount of cash to have on hand varies, but a small amount for emergencies is recommended while keeping most in a secure bank account.
Hong Kong. Hong Kong is quickly heading towards a cashless society, with initial predictions even suggesting that 2025 could be the year that the country goes fully cash-free. ...
Sweden. Sweden is one of the countries at the forefront of the cashless movement. ...
To put it abruptly, yes, shops in the UK can legally refuse cash payment. While cash is considered a legal tender, businesses have no legal obligation to accept it and have the right to set their own payment policies.
China is known for its rapid adoption of mobile payments, but cash still plays an important role — especially for tourists. You'll need yuan (CNY) for taxis, local markets, smaller restaurants, and rural areas where card payments aren't accepted.
This shift is part of China's broader push to modernize its financial infrastructure, creating a more inclusive and accessible economic environment. As visa policies become more flexible and China's payment system is more user-friendly, foreign visitors are finding it easier to adapt to China's cashless society.
