The change in purchasing habits: The path to plastic / digital money and the example of China

The global economy is constantly evolving, with consumer buying habits undergoing significant changes.

One of the challenges facing modern society is the growing trend towards replacing cash with plastic and digital means of payment. An interesting example of this trend comes from China and can shed light on the modern Greek reality.

China and the Rise of Digital Currency: China is one of the most active nations in the field of digital currency. China's central banking system is working hard to introduce the digital currency, "Digital Currency Electronic Payment" (DCEP), at the national level. The aim is to integrate DCEP into the daily lives of Chinese people, promoting the rejection of cash. China's citizens have already engaged in a positive way with the use of digital currencies for payments in stores, online shopping, and services.

In China, the use of digital payments has grown dramatically in recent years. The application of WeChat Pay, Alipay and other electronic media has made digital wallets an integral part of daily life. Citizens pay for everything from their coffee to public transport tickets with a simple tap of their mobile phone.

The Greek reality: In Greece, the transition to plastic money is evident, but it has not yet reached the levels of China. Plastic money, such as credit and debit cards, digital wallets, and online payments are dynamically entering our lives.

The Greek reality, although slower to adopt these technological developments, is positively facing the shift towards plastic money. Cards are widely used for purchases and payments. Also, digital payment platforms such as PayPal, Apple Pay, Viva Wallet, Google Pay and others are starting to establish themselves as alternatives.

With these data, the shift to alternative digital payment methods is the only way for any business that wants to be able to stand out and stand up to the dictates of modern reality.

Do you want us to discover the new ways of digital capital inflows to your business? We look forward to your call!