With the global economic crisis creating a ‘new norm’ for businesses, China is looking to its domestic market in order to stabilise its own economy.
The payments transformation in China is a key factor in supporting this approach. One of the components of this strategy is to improve the processing of retail payments, which offer consumers more convenience and cost-effective ways to pay. This approach is seeing an increase across the country in initiatives and investment in the principles and technologies that will promote consumer spending and maintain retail liquidity.
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