Payment codes of Wechat Pay and Alipay are seen hung on a stall at a vegetable market on November 28, 2021 in Beijing, China.
Payment codes of Wechat Pay and Alipay are seen hung on a stall at a vegetable market on November 28, 2021 in Beijing, China.
  • China recently fined several businesses, including a KFC, for refusing to accept cash.
  • These are some of the most established companies in China, showing just how quickly cash has fallen from favor there.
  • It's a problem for a China hoping to attract foreign tourists who aren't part of the cashless system.

China's central bank fined seven businesses last week — including a KFC and branches of state-owned corporations — for rejecting cash payments, all as Beijing pushes to make spending more accessible for foreign tourists.