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Asians growing adoption of cashless payment

A new MasterCard study has revealed a rapid shift away from cash in economies including Asian countries. The study ‘The Cashless Journey’ found out that 55 per cent of the value of consumer spend in China was cashless. Meanwhile, Singapore (69 per cent) is approaching the “tipping point” to becoming nearly cashless. In emerging economies such as India (32 per cent) and Indonesia (31 per cent) are just embarking on their cashless journey, but are in many cases changing cash share of …