The Digital revolution is taking over the world by storm with the Chinese embracing the use of QR codes to beg for money. In China, people hardly transact using cash, everyone has their own QR code used for payment of food, clothes, trains, taxi, flights, etc
China is the closest country to being a cashless economy. Deep smartphone penetration and dominance of digital payment applications, such as Alipay and WeChat, have supported the phenomenon.
In India, the availability of Paytm and cheaper smartphones, coupled with the penetration of the internet has already brought even small kiosks such as paan wallahs to street vendors to accept digital payments.
The Disadvantage of using cashless payments.
According to some reports, businesses with paying these QR code beggars for every scan that is made. They then harvest data of the users and even sell their WeChat IDs, the China Channel reported some time ago. User data can also be sold to the companies which then use these to pester customers with advertisements and unnecessary nudge.
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