Users Opting Mobile Payments Exceed 520 Million In China
The number of Chinas mobile wallet users has exceeded 520 million with combined payments of over USD 6 trillion, Chinese e-commerce giant Alibabas financial services affiliate said today.
According to the Peoples Bank of China, Chinese banks dealt with 8.6 billion payments from mobile services in the second quarter of this year, up 40.5 per cent from a year ago.
The combined value of mobile payments jumped 33.8 per cent to 39.2 trillion yuan (USD six trillion).
The growth came as user-friendly platforms such as WeChat Pay encourage online transactions.
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