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Cashless Without Phones In China? How Does It Work?

No cash, no cards, no wallet and no smartphones: China’s shoppers are increasingly purchasing goods with just a turn of their heads as the country embraces facial payment technology.

China’s mobile payment infrastructure is one of the most advanced in the world, but the new systems — which require only face recognition — being rolled out nationwide could make even QR codes seem old-fashioned.

How Does It Work?

Customers simply make a purchase by posing in front of point-of-sale (POS) machines equipped with cameras, after linking an image of their face to a digital payment system or bank account.

“I don’t even have to bring a mobile phone with me, I can go out and do shopping without taking anything,” said Bo Hu, chief information officer of Wedome bakery, which uses facial payment machines across hundreds

of stores.

“This was not possible either at the earliest stage of mobile payment — only after the birth of facial recognition technology can we complete the payment without anything else,” he explained.

For Security Purposes

The software is already widely used, often to monitor citizens — it has been credited with nabbing jaywalkers and catching criminals.

But authorities have come under fire for using it to crack down and monitor dissent, particularly in China’s surveillance-heavy region of Xinjiang.

“There’s a big risk… that the state could use this data for their own purposes, such as surveillance, monitoring, the tracking of political dissidents, social and information control, ethnic profiling, as in the case with Uighurs in Xinjiang, and even predictive policing,” said Adam Ni, China researcher at Macquarie University in Sydney.

“This is certainly one of the more contentious aspects of the gathering of facial recognition data and the usage of them.”

Despite the concerns over data security and privacy, consumers seem unperturbed as facial recognition payment hits the high streets.

Alipay

Alipay — the financial arm of ecommerce giant Alibaba — has been leading the charge in China with devices already in 100 cities.

The firm is predicting enormous growth in the sector and recently launched an upgrade of its “Smile-to-Pay” system, using a machine roughly the size of an iPad.

Alipay will spend three billion yuan ($420 million) over three years on implementing the technology.

WeChat Pay

Tencent, which runs the WeChat app with 600 million users, unveiled its new facial payment machine called “Frog Pro” in August, while a growing number of start-ups are trying to tap into the burgeoning industry.

“(Facial payment) certainly has the potential to become popular with the wide push from major mobile payment players,” said Mengmeng Zhang, an analyst

at Counterpoint.

“Alipay is spending (billions) to popularise facial payment technology through giving out subsidies for vendors and rewards for consumers that use facial payment,” she added.

At the IFuree self-service supermarket in Tianjin, a 3D camera scans the faces of those entering the store — measuring width, height and depth of the faces — then another quick scan again at check-out.

“It’s convenient because you can buy things very quickly,” said retiree Zhang Liming after using facial payment for her groceries.

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Source | Arabnews

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What Can You Buy With One Yuan In China?

How much money is enough for a living in China? What can one yuan buy in China? Let’s read this to find a fun way to live in this country!

1 Yuan in China Now

In Taobao, the biggest e-commerce platform in China, you can buy some small groceries like tooth mugs, pens, hooks, or even toys with about 1 yuan, the equivalent of $0.14 at exchange rates for now.

What Can You Buy With One Yuan In China?

If you choose to go shopping offline, there are more types of goods priced 1 yuan.

In first-class cities such as Beijing, Shanghai, Guangzhou, and Shenzhen, you can buy a bun or some shallots from markets or vendors.

In other cities, prices of goods are cheaper most of the time so that you can buy more things with 1 yuan. For example, a handful of vegetable, an egg, an ice-cream, even a bag of rice.

You can also take a bus or buy a newspaper with 1 yuan in several cities now.

1 Yuan in China Years Ago

A few years ago, you can buy more with 1 yuan since the price level is quite low.

40 years ago, the average price of rice is ￥0.3-0.4 per kg, and the price of meat is around ￥2 per kg, which means that you can cook and enjoy a very hearty meal for a family with only 1 yuan!

With one yuan, you can also get your hair cut for 3-4 times, or shower a couple of times. It seems that the purchasing power of one yuan was high in the 1970s in China

With the increasing price level and crazy sales promotion, it seems that no matter how much money we earn, it’s never enough for a living. But don’t forget that you can still buy some fun things with one yuan and enjoy a moment.

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1 Minute For Release! Simplified Customs Declaration Comes Out!

From August 24 onward China Customs starts to test the Two-Step Customs Declaration mode, which takes only 1 minute for your goods to be approved for release. Let’s see how can this process help you!

What Is It?

In order to further facilitate customs clearance and continue to optimize the business environment at ports, China streamlines the integrated customs clearance process by implementing a two-step customs declaration mode.

In this mode, customs declaration procedures are divided into two steps within a time frame:

Before the Declaration

A company should submit an application for tax guarantee filing to the related customs department under the registered place in advance.

01/ Simplified Declaration

The company declares to the customs:

Whether the imported goods are subject to the prohibition control
Whether it is required to be inspected or quarantined in terms of law
Whether tax payment is required

If it is not subject to the prohibition control and is not subject to legal inspection or quarantine, declare 9 items and confirms the 2 items involved in logistics, and taxable ones must select the required guarantee record number.

02/ Complete Declaration

The company should complete the whole declaration within 14 days from the date of declaration of the transport, and handle other customs clearance procedures such as paying taxes.

After the tax is paid, the guarantee amount of company is automatically restored.

What are the Differences?

01/ The company does not have to declare all the items at a time.

Since the first step requires only a brief declaration, which speeds up the whole process while maintaining manageability.

02/ The cost can be further reduced.

Goods can be picked up after the first step so that the detention will decrease and the clearance will become more efficient.

What are the Pilot Conditions?

During the pilot period, the application of “Two-step declaration” should meet the following conditions:

The goods are imported through the pilot customs so far
The credit rating of the domestic consignee or consigner is general credit or above
The relevant regulatory documents have been checked online

Which are Pilot Customs?

Manzhouli Customs
Hangzhou Customs
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Tsingtao Customs
Shenzhen Customs
Huangpu Customs

P.S. To initiate the “Two-step declaration” pilot reform while retaining the existing reporting mode, the company may choose one of the above two modes to declare.

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SOURCE | CHINA CUSTOMS

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