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Hong Kong’s days of ‘cash is king’ may be in peril as fears of Covid-19 infection boost digital payments

The Covid-19 pandemic has accelerated the pace at which Hong Kong is turning into a cashless society as fear of contracting the deadly disease has prompted people to shop online or pay by phone, transaction data and industry players suggest.Visa, one of the world’s biggest payment companies, saw its e-commerce transactions in the city in the first half of 2020 rise 10 percentage points year on year, according to its Hong Kong head. In that period, 70 per cent of Visa transactions in Hong Kong…

Read the original article at South China Morning Post

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