Shanghai-based fintech veteran Rich Turrin says that the widespread adoption of digital payments in China has played an instrumental role in the country’s efforts to contain the spread of COVID-19 throughout the first quarter of 2020.
In an interview with China Banking News Turrin said the surging popularity of AliPay and WeChat Pay last decade has not only transformed daily economic activity China – it has also resulted in the development of an accompanying logistics networks that greatly abetted efforts to combat the novel coronavirus.
“We make the fundamental mistake of thinking that contactless or mobile payment is just a really nice and convenient way to pay money from one point to the other,” said Turrin.
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