The way people pay in China is undergoing a significant transformation. While the rise of digital and contactless transactions has reshaped consumer habits, the demand for cash remains far from obsolete. Businesses today must navigate a hybrid ecosystem where digital convenience and physical currency coexist and thrive together.
Digital payments in China have surged due to their speed, convenience, and extensive mobile infrastructure. Alipay (used in 92% of mobile payments) and WeChat Pay (85%) dominate daily transactions, particularly in urban areas. With over 73% of all payments now cashless, the rise of the digital renminbi (e-CNY) highlights China’s continued commitment to digitalisation, aiming to improve financial inclusion and transactional oversight.
However, despite the rise of digital tools, cash remains essential for many Chinese citizens. In fact, cash payments still accounted for over 63% of transactions in 2024. Cash offers a reliable alternative during power outages, system failures, or emergencies. It also supports personal budgeting and provides individuals with greater financial control.
For retailers, hospitality providers, and service industries, excluding cash may limit customer reach and reduce resilience. A hybrid approach ensures flexibility, continuity, and inclusion, allowing businesses to meet a broader range of consumer preferences while safeguarding against system failures.
At Cashmaster, we support businesses in adapting to this blended payments environment. Our cash management devices streamline cash handling, enabling fast, accurate till counts, printed reports, and integration with POS and cash management systems. Whether you're managing multiple stores or need audit-ready reporting, our solutions help ensure that accepting cash never compromises efficiency.
In a world where flexibility is key, Cashmaster helps your business stay balanced.
Curious about how efficient your current cash handling process is? Use our Savings Calculator to explore potential improvements.