CHINA China’s Mobile Payment grows 73.09% in Q2

CHINA

China’s Mobile Payment grows 73.09% in Q2

People's Daily app

11:39, August 21, 2018

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China's Mobile Payment grew rapidly in the second-quarter, with an increase of 73.09 percent, according to data issued on Monday by the People's Bank of China.

China's banking institutions in the second-quarter handled about 43.77 billion electronic payment deals, worth 584.99 trillion yuan ($85.53 trillion). 

Online payments reached 13.87 billion deals, worth 487.39 trillion yuan ($71.26 trillion), increasing by 17.78 percent and 2.96 percent year-on-year respectively. 

Mobile payments reached 14.92 billion deals, and were worth 62.88 trillion yuan ($9.19 trillion), with an increase of 73.09 percent and 60.24 percent year-on-year.

Non-bank payment institutions in the second-quarter handled about 123.01 billion net payment transactions, valued at 48.29 trillion yuan ($7.06 trillion), an increase of 94.37 percent and 53.35 percent year-on-year respectively.

The Netsunion platform test operation went well. It handled 8.15 billion transactions, with a value of 2.7 trillion yuan ($394.5 billion) in the second-quarter. There were 89.51 million transactions per day, reaching a value of 29.64 billion yuan ($4.33 billion).

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