Text: A collection of daily anecdotes
Edited by a collection of daily anecdotes
Sources: All of the information stated in this article is based on reliable sources, and is detailed at the end of the article
When it comes to electronic payment, do you also think that it has become the new normal to go out without even a wallet and a mobile phone to go around the world?
But behind this booming electronic payment, the three departments suddenly came to a "sudden brake", requiring merchants to "reserve cash". As soon as this happened, some people wondered: "Are we going back to the cash era?"
Let's take a look at what's going on. Recently, the People's Bank of China, in conjunction with the Ministry of Commerce and the State Administration of Foreign Exchange, issued new payment guidance, requiring merchants from convenience stores to breakfast shops to have enough cash to meet all possible payment needs.
At first glance, this policy may seem like saying "no" to electronic payments, but on closer inspection, it is not.
Although we young people have been using Alipay and WeChat payment very much, we have to think about the elderly who are inconvenient to use electronic payments. The cash they have on hand is often too much because they can't find a merchant willing to accept it. In addition, it is also difficult for foreign friends to travel to China and open these payment methods.
This strategy is actually thinking about the elderly who don't know how to play electronic payment and foreign friends who come to China to play. The idea is that when they use the money, they won't be at a loss because they can't handle those high-tech things.
To put it bluntly, it is calling for a "non-exclusive" business concept that allows everyone to use all means of payment comfortably.
On the other hand, this is also a supplement to the cash payment ecology, avoiding the possible risks of a single payment system brought about by the dominance of electronic payment.
What does this mean for us? For the average consumer, more payment options will only make shopping more convenient.
For merchants, this is also a warning that relying on a single payment system is not advisable, and a diversified payment system is more resilient to various unexpected situations that may arise in the future.
Such a policy adjustment, which seems to be a bit against the current, is actually a deliberate choice for the sake of diversity and inclusion in society.
Although we all love the convenience of electronic payment, we can't completely rely on it, because cash sometimes gives a sense of warmth and security that digital payment can't match.
More essentially, it is a complement and balance to existing payment methods. Think about it, electronic payments are fast, but you have to be prepared.
What if there is a problem with the network, and everyone needs to buy something urgently, and there is no cash? At this time, cash is the "emergency money" that can come in handy immediately.
Everyone knows that you don't put all your eggs in one basket, and this sentence is just as reliable when it comes to payment methods. Electronic payments are good, but once there is a technical glitch or security issue, there is no cash to supplement it, and there is really no place to cry.
This policy undoubtedly provides a safety net for the society, making our payment environment more robust and resilient.
In the face of the new policy, merchants can no longer rely solely on electronic payments, but need to re-evaluate their payment systems and strengthen their cash processing capabilities, which is not only responsible for consumers, but also to protect their own business continuity.
Think about it, if electronic payments really "strike" for a short time, wouldn't those merchants who can accept cash appear more reliable and attractive?
This policy is also an invisible education for consumers. Let everyone understand that no matter how good technology is, no matter how "smart" life is, but the old-school cash payment still has its unique stability and security. In the future, mixing fresh electronic payments with traditional cash payments may become the norm.
It's not just about throwing out a policy, it's a deliberate move to add to the diversity and security of the payment system. This adjustment is obviously a clever and necessary step.
And think about it, as soon as this policy comes out, does it also give a gentle reminder to those of us who are still entangled in full digitalization?
Let's understand that while pursuing convenience, we must also keep a little traditional and conservative in case we need it. Such a balance is indeed the most shrewd strategy.
Perhaps in the near future, we will see a modern and traditional, efficient and comprehensive payment ecosystem truly take shape.
At that time, whether it is a mobile phone or a few banknotes, there will be no more obstacles.
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Resources:
Chinese Government Website: People's Bank of China, Ministry of Commerce, State Administration of Foreign Exchange issued the Notice on Further Optimizing Payment Services in the Commercial Sector and Enhancing Payment Convenience
Xinhuanet: People's Bank of China, Ministry of Commerce and State Administration of Foreign Exchange issued the Notice on Further Optimizing Payment Services in the Commercial Sector and Enhancing Payment Convenience
The Paper: Payment institutions have taken active actions, and payment services in the commercial sector have continued to be optimized