The Bank of Tokyo-Mitsubishi (MUFG) has made its own digital currency. Currently only used for internal transactions, it's being considered for public release, which would make MUFG the first major bank to issue virtual money – a milestone in the creation of a truly cashless society.

Despite the infamous Great Firewall, China’s netizens are outgrowing internet users across the rest of the world. But what are they spending their online lives doing in the landscape that exists beyond the Wall? And what – if anything – is the rest of the world missing out on?

Trawling through markets while being assaulted by assorted sights, smells and sounds has always been a part of Chinese city life, and now swiping a smartphone to pay for items could be, too. Chinese consumers are using their smartphones to pay for anything and everything.

Millions of people worldwide are still paid in cash, which can be expensive for businesses to manage and insecure for employees. The Better Than Cash Alliance – a partnership of governments, companies and charities – aims to change that, encouraging digital payments to boost financial inclusion.