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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.

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