It's convenient because everyone accepts it and the transaction charges appear to be half of credit card fees (or zero if the merchant uses Tencent's escrow sys

It's convenient because everyone accepts it and the transaction charges appear to be half of credit card fees (or zero if the merchant uses Tencent's escrow system). When I travel to China, as a foreigner, I'm virtually the only one carrying any cash. None of the locals carry meaningful amounts of cash any more.