Most used in-store (POS) payment methods in China 2017-2023, with 2027 forecast
Wallets made up the majority of POS transaction value in China, caused by the popularity of QR codes within the country. The share of cash, on the other hand, declined to roughly 10 percent of all money spent in-store. The use of super apps like WeChat introduced consumers in China sooner to QR codes than people elsewhere in the world.