Not long from now, you will be able to do errands in Shanghai without any cash or credit cards. Oh no, you still have to pay, but you'll be using your fingertips instead.

A tech company in the city introduced its latest development on Wednesday, which allows shoppers to pay by simply pressing a button on the POS terminal for five seconds. The customers' money is then automatically transferred from their bank account.

The technology, if put into use, will be the first of its kind in Asia, according to a China News Service report.

Mr. Chen, a sales manager from the company, predicted that many recreational centers in Shanghai will sign on to use the technology before the year's end. He also sees a potential market in nearby Chinese cities such as Hangzhou and Nanjing.

(CRI October 26, 2006)