Software & Apps

China's Mobile Payments Were Up 85.82% in 2016

Updated:2017/3/21 14:16

The People's Bank of China released payment business statistics in 2016, which shows that 125.111 billion non-cash payment transactions took place in China last year with a sum of CNY 3687.24 trillion. Among those, mobile payments grew 85.82 percent to 25.71 billion with CNY 157.55 trillion, a 45.59 percent increase compared with the same period of 2015, maintaining a rapid growth.

With Alipay, WeChat, Baidu Wallet and other third-party payment agencies covering the daily consumption scenarios, non-bank payment agencies carried out 163.902 billion network payment transactions in China in the whole year, which were worth CNY 99.27 trillion, up 100.65 percent.

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