Cash still King in Asia
Alipay and WeChat Pay may be dominating China, but cash is still king in the rest of Asia, PayPal study finds
- Cash is still the dominant method of payment in Asia despite the many digital alternatives, such as Alipay, according to a PayPal report
- The survey found people are reluctant to steer away from cash due to a lack of available information on digital wallets
- To drive further digital-payment adoption, governments and companies needed to work together, said Rohan Mahadevan, APAC senior vice president at PayPal