CHINAUS AFRICAASIA 中文双语Français
Business\Industries

Mobile payment users exceed 520 million in China: Ant Financial

Xinhua | Updated: 2017-11-23 09:00

XI'AN - The number of China's mobile payment users has exceeded 520 million, according to Ant Financial, Alibaba's financial affiliate.

According to the People's Bank of China, Chinese banks dealt with 8.6 billion payments from mobile services in the second quarter of this year, up 40.5 percent from a year ago.

The combined value of mobile payments jumped 33.8 percent to 39.2 trillion yuan ($6 trillion).

The growth came as user-friendly platforms such as WeChat Pay encourage online transactions.

In April, Ant Financial said it planned to spend 6 billion yuan in two years to popularize its payment system.

According to a report jointly produced by Tencent, Renmin University of China and French market researchers Ipsos, 84 percent of Chinese said they are "comfortable" going out with only their phones and no cash.

BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US