Read Between the Ps

China is there in almost every 2nd line of news pieces when it comes to global businesses. Rightly so, with a growing middle class, rising income levels, low costs of production and more than 10% annual growth – the package would lure any investor today. Lately, this attention is being focused on the emerging China, where more than three-quarters of a billion people reside. A recent article published at Mckinsey Quarterly recommends an innovative way of leveraging the hard infrastructure of China’s booming telecom market. The article, titled “ Developing a new rural payments system in China ”, by Jan Bellens, Chris Ip, and Anna Yip , highlights the importance of accessible payment system for the rural regions of China, where more than 750 million Chinese reside currently. Lack of payment gateways , high costs involved in setting up additional ATMs and lack of awareness of cashless payment systems limit the current spending patterns of the consumers, and the entire value chain foll...