China's Cashless Economy Threatens To Leave Its Elderly -- and Their Money -- Behind

An anonymous reader shares a report: With his cellphone in one hand, and two wooden meditation balls in the other, Zhang Siqi queued up alongside throngs of fellow retirees that make up the morning rush at a small Beijing grocery store. Zhang, a Beijing native, then opened the WeChat mobile pay tab on his phone and scanned it at the automatic register to pay for some fruit and a pack of cigarettes with a savviness that belied his age.

That cutting-edge payment method is rapidly becoming so common in Beijing and other large cities that experts have begun referring to the Chinese capital as a prototype of the futuristic cashless society. In 2017, the country saw $15 trillion in mobile payments, the Wall Street Journal reported, far outstripping the US. While Zhang has been using WeChat social media and mobile pay functions for a few years now, the 63-year-old knows not every Chinese senior citizen is equally adept.

'Some old people find it difficult to keep up with technology. Many retirees have poor eyesight, and struggle to see the screen, or have a poor memory and keep forgetting how to use the apps,' he said, pocketing his phone with his right hand, and rolling the wooden meditation balls with his left. Those issues were brought into sharp focus recently by a viral video of an older Chinese patron in northern China arguing with the staff at the checkout of a supermarket in northern China over how to pay for a bag of grapes -- the staff told him he needed to pay by app, but eventually relented and allowed him to pay by cash. A slew of viewers expressed sympathy for the demoralized customer, including consultant Matthew Brennan, who writes about China's ever-evolving tech scene.

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