LONDON: China is on track to becoming the world’s top country for cash-free transactions, Kent Matthews, professor of banking and finance at Cardiff University told Xinhua recently in an exclusive interview.
In China, the proportion of the total amount of money in circulation in the form of cash has dropped to 3.7% and is continuing to fall, said Matthews.
“People are using cash much less today than they were 10 or 20 years ago. The trend towards a cashless society is inexorable,” he said, noting that today in Britain cash is about…
