China to ease financial services for elderly

BEIJING: China will roll out a raft of measures to make financial services more accessible for the elderly and help the group tackle the digital divide, according to the country’s central bank.
Measures to improve cash management, payment services and inclusive finance will be adopted to make services more convenient for the elderly, said Li Wei, an official with the People’s Bank of China (PBOC), at a press conference on Thursday.
The move followed a government plan unveiled on Tuesday, which specified measures to maintain traditional services for the elderly and help them overcome smart technology barriers.
To crack down on discrimination against the use of cash, the PBOC will launch a campaign to ensure utility service providers and service venues such as restaurants and shops do not turn down cash payments, Li said.
In an effort to help the elderly use mobile payment services, the central bank will guide businesses to upgrade their payment platforms and products, and will strengthen relevant publicity and education for the group.
Financial institutions will also be required to integrate online and offline inclusive financial services, especially those frequently used by the elderly, so that they can be tailored to their needs, Li added. Earlier Tuesday, screenshot from the official website of the General Office of the State Council shows the plan to help the elderly adapt to life with smart technologies, to tackle the ever-widening digital divide.
Like everywhere else around the world, China is going through a digital revolution – driven by the proliferation of all kinds of smart devices. From buying tickets, ordering food, booking a hotel, asking for home service, to tracking fitness levels, people can get almost everything done just through a smartphone.
Yet as society surges ahead, the elderly are being left behind. Many worry that digital services provided by companies and governments may end up elbowing out the elderly, leaving them without access.
The plan asked public organizations and all levels of governments to formulate specific measures to help the elderly as soon as possible. It outlined various types of services and scenarios most frequently used by the elderly and common problems, such as seeking medical treatment, submitting documents, applying certificates, attending recreational activities, traveling, shopping and so on. – Agencies