Mobile Payments in China Top $1.5 Trillion in 2013
Feb. 20, 2014
Mobile transactions and transaction value both surged to triple-digit growth in China last year, according to the People’s Bank of China. Transactions rose nearly 213 percent in 2013 to 1.67 billion, according to officials at the Chinese central bank. The value of all mobile payments rose even faster, growing more than 317 percent to $1.58 trillion.
Mobile payments accounted for about 3 percent of all non-cash transactions in China last year. The country is one of the most attractive mobile commerce markets in the world, with approximately 80 percent of its 618 million online users accessing the Web via their mobile device.