E-wallet race heats up

Early adopter: A man scans a QR code with his smartphone to purchase a drink from a vending machine in Guangzhou. China has been one of the earliest adopters of such a trend using mobile phones fitted with scannable quick-response codes which facilitate such transactions. — Bloomberg

PICTURE this scenario.You’re stepping outside your office for a drink at a cafe that you’ve been visiting for over a decade.After your drink, you walk up to pay.

But now, instead of giving the cashier cash like you’ve been doing all this while, you make your payment via your e-wallet, which is essentially an app residing in your mobile device that can be loaded with money and used to pay for goods and services.