PBoC warns businesses not to reject cash

PBoC
While China is one of the fast movers towards e-payments, the People's Bank of China has told businesses not to reject cash

The People’s Bank of China has warned businesses not to reject cash, in a new move to play down the hype around visions of a cashless society.

The PBoC says people a recomplaining that cash is being rejected in some tourist attractions, restaurants and retailers.

“This undermines the legal status of the renminbi and dampens customers’ choices of payment method,” the Chinese central bank says in an online statement released on July 13. It adds that it is necessary to create a harmonious payment

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