 "China’s fintech industry shows where the rest of the world is heading")
“We need banking but we don’t need banks anymore,” said Bill Gates two decades ago, predicting the explosion in start-ups creating web and app-based financial services that we’re seeing right now.
With nearly $11 billion last year invested into so-called fintech startups across Asia, the sector is rivaling online shopping and ride-hailing among the hottest tech arenas.
As this seismic shift takes place, nowhere is it more visible than in China.
At a Starbucks in Shanghai, a punter pays for coffee with a messaging app, waving their phone in front of a barcode scanner. At the sushi joint next door, a customer settles
