So I gather in China you pay for retail purchases WeChat or Alipay and they are privately owned? It's not very different in Australia. We have Visa and Mastercard, both privately owned.
In Australia, the old rule "everyone must accept cash" has been swept away by covid-19. They've even upped limit you have at which you have to enter a PIN, so most purchases are contactless. Cash will be another casualty of covid-19 I guess. There are only two contactless platforms accepted everywhere - Visa and Master. Both are privately held. And they are head quartered in another country.
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So I gather in China you pay for retail purchases WeChat or Alipay and they are privately owned? It's not very different in Australia. We have Visa and Mastercard, both privately owned.
In Australia, the old rule "everyone must accept cash" has been swept away by covid-19. They've even upped limit you have at which you have to enter a PIN, so most purchases are contactless. Cash will be another casualty of covid-19 I guess. There are only two contactless platforms accepted everywhere - Visa and Master. Both are privately held. And they are head quartered in another country.
Is the USA so different?