But other than losing another bragging right, what does this much-lamented shortcoming mean to Hong Kong and its people? It’s hard to imagine that banks in Hong Kong have all fallen asleep while their competitors in other cities are racing ahead of them in the fintech contest. Many commentators have lamented that Hong Kong is lagging behind other regional cities, notably Singapore and Shenzhen, in progressing toward a cashless society. But most people in Hong Kong don’t find the deficit to be that much of an inconvenience. You can do all that in Hong Kong as well with your mobile phone.

Source: The Nation Bangkok December 02, 2016 18:05 UTC