Comment on It's so tough to pay cash in China that the government had to fine a KFC for not accepting banknotes

It's so tough to pay cash in China that the government had to fine a KFC for not accepting banknotes

Payment codes of Wechat Pay and Alipay are seen hung on a stall at a vegetable market on November 28, 2021 in Beijing, China.VCG/Getty ImagesChina recently fined several businesses, including a KFC, for refusing to accept cash.These are some of the most established companies in China, showing just how quickly cash has fallen from favor there.It's a problem for a China hoping to attract foreign tourists who aren't part of the cashless system.China's central bank fined seven businesses last week — including a KFC and branches of state-owned corporations — for rejecting cash payments, all as Beijing pushes to make spending more accessible for foreign tourists.The People's Bank of China has meted out such punishments for years.

 

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