China’s fully cashless society a step closer after two private banks end services for banknotes and coins

Source: China – South China Morning PostTwo small private Chinese banks announced last month that they would no longer provide services involving banknotes or coins, in the latest sign that the country is accelerating its march towards a totally cashless society.Zhongguancun Bank, which serves customers in the capital of Beijing, said it would suspend cash services, including over-the-counter deposits and withdrawals as well as cash services on ATM machines, starting from April.Its decision comes after a similar move by another…Read More

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