China is one of the biggest and most developed countries in the word and the population of China is very high. For that reason, the economic and financial system of that country is very developed and upgrade. The government of China wants to move the transaction system cash to cashless. There are different shopping molls, carts and restaurants present in China so the people of the country use the different transaction modes in their daily lives. The majority of the people are using the cashless payment method in different purpose.
There are different types of tools are used in the Chinese market for the cashless transaction such as the electronic data capture machine, net banking, mobile wallet, RTGS and NEFT etc. The inexperience and the old people are facing some problems to use the cashless payment system but in the other hand, the younger people are attracted by the cashless system for the different offers and the discounts. There are some risk related problems for the online transaction but the problems are negligible so that the cashless payment system makes a huge response in the Chinese market.The research work will use both secondary and primary research methods to address research aim and objectives. Data collection process has to be according to the research methods (Kumar, 2014). The researcher will use the process of secondary data collection process to collect qualitative data for this research work. There are different types of secondary data sources such as books, magazines, articles, journals, existing research works and authentic websites, which will be used to collect secondary data about cashless society in China. Primary research will be conducted to collect both qualitative and quantitative data. Questionnaires will be formed to collect data through interview and research survey. Open ended questions will form for interview process and close ended questions will form based on research objectives to complete survey process.