Most popular in-store, or POS, payment methods in China 2017-2022
China sooner to QR codes than people elsewhere in the world. The upcoming introduction of a CBDC in 2022 by China's Central Bank is believed to impact both these figures even further.
Wallets made up the majority of POS transaction value in China, caused by the popularity of QR codes within the country. The share of cash, on the other hand, declined to roughly 10 percent of all money spent in-store. The use of super apps like WeChat introduced consumers in