In May, the Trump administration allowed U.S. credit card firms – including Visa and Mastercard – to access China’s market. But with China skipping credit cards and going straight for digital payments, these credit companies may have no place in the Chinese economy.

Weighed down by your wallet? Purse cluttered up with cards? Then perhaps Kerv is the wearable you’ve been waiting for. This smart ring enables people to make payments without a counterpart device, while also functioning as an Oyster card and a repository for emergency and medical info.

KFC China has teamed up with search engine Baidu to create an AI-enabled facial recognition checkout, which predicts what customers will order based on their age, gender and mood. The fast food giant is exploring a future in which there's no need for people to even think about their order.

Since WeChat added a payment platform to its app back in 2013, Chinese shoppers have been keen to adopt mobile payment methods – and they’re doing so at a much faster pace than the rest of the world. In fact, 81% of consumers nationwide use their mobile to shop.