And yet, in 2018 more than a third of internet users worldwide had used a mobile payment service in the last month.

With an incentive to appeal not only to Chinese tourists but others worldwide, the merchant network that accepts payments via QR code, NFC technologies, and electronic wallets is expanding. Digital technology has brought about one of the fastest transformations in society and COVID-19 has accelerated this trend. Ongoing shifts toward e-commerce, digital payments (including contactless), instant payments, and cash displacement have all been significantly boosted in the past year. While the impact of the digital revolution goes far beyond the sphere of internet commerce, it has not been consistent across sectors and countries.