RIP cash? Instant, online finance is here to stay

Three weeks ago, I arrived at the Vietnamese Embassy to apply for tourist visas for myself and my family. But after filling in the forms, I was told the fees had risen, and I would have to pay a total of 1,380 yuan ($222) for three of us. It accepts cash only, and I was 140 yuan short.

With the nearest ATM a mile away, the thought of rushing off in the hot summer sun didn't appeal. But what to do? I normally wouldn't think of borrowing money, let alone from complete strangers.

In this case, however, it seemed the only option was to ask a fellow applicant and I had a secret weapon: Alipay, the country's leading Internet payment service owned by Alibaba Group Holding Ltd.