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Caixin

Cash may not be king in China anymore, but reject it at your peril

Central bank takes steps to protect those on wrong side of digital divide

A customer pays a vendor cash at a market in Beijing. An increasing number of companies, small traders, public entities and financial institutions rejecting cash as a means of payment and forcing customers to use online payments.    © Reuters

Last November, a video of an elderly woman being told that she couldn't pay her medical insurance in cash went viral in China, triggering a debate about mobile payments and the marginalization of older people fueled by the digital divide.

The incident and the online backlash thrust into the spotlight an issue of growing concern to the government -- the increasing number of companies, small traders, public entities and financial institutions rejecting cash as a means of payment and forcing customers to use online payments or electronic payment apps such as Alipay and WeChat Pay.

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