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Mobile Payments

China's mobile payments continue their fast growth path

Monday 8 July 2019 | 10:34 AM CET

China`s mobile payments have continued their rapid growth in the first quarter of 2019, according to data from the People`s Bank of China.

Banks and financial institutions conducted 19.69 billion mobile payment transactions valuing CNH 86.62 trillion (USD 12.6 trillion) in Q1 2019, according to the central bank.

Moreover, the number of transactions surged by 79.6% year on year while the value marked a 22.32% rise, while the number of online payment transactions surged 34.59% year on year to 16.29 billion, with the value dipping 2.06% to CNH 622.68 trillion, the data showed.

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