The journey to a cashless Hong Kong is going well, that is until someone gets into a cab without first checking the money in her wallet. Chances are, she will be out the door in less than five seconds.
Digital payments have made a big dent into the daily lives of the city’s 7.5 million residents; the use of physical currency has fallen to just 9% of value transacted at stores, among the lowest in Asia. Yet, visitors’ first encounter with this promising fintech hub is still very likely to be through taxi drivers who accept only banknotes.
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