China Third Party Mobile Payments Alipay Climbs to USD 5.5 Trillion
Driven by the explosive growth of Internet finance, China is now witnessing a boom on mobile payment market which touched a whopping USD 5.5 trillion last year.
Data showed that value of Chinese third-party mobile payments has tripled to 38 trillion yuan (USD 5.5 trillion) in 2016, state-run People's Daily reported on Saturday. With the popularity of mobile payment, Chinese people can enjoy life without cash or cards as what they need is a mobile device, it said.
Even the farmers and herdsmen living in the remotest villages in Tibet can now use their cell phones to purchase daily necessities online since local administrative villages have been completely covered by communication signal. A survey by Nieslen, a US-headquartered global information data and measurement company, showed ...