While there is still much in the way of debate in the U.S. and the rest of the developed West about the shape of things to come with the mobile and digital payments revolution that remains in nascent stages, on the other side of the world in China, the waiting has ended.
The mobile revolution is here.
Paper money — The New York Times writer Paul Mozer recently noted in a column — is seemingly dying a swift and unceremonious death in the Chinese market, as just about everyone seems to be using their smartphone to pay for just about everything.