looking at the fast pace of China it's highly possible. Also, to my surprise when visiting, the guys use online payments and payments through wechat all the time.
For example on street food vendors and small shops the majority of people no matter the age paid with their phone. Here in Greece the majority of us especially in food corners we pay in cash
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Those online payments are possible because of two private companies, WeChat and AliPay. The keyword here is private and that's a huge problem for the state. These two companies basically own 80% of the transactions and the data that comes with it, which is a goldmine. That's what the Chinese state is after.
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