Global EditionASIA 中文双语Français
Home / Business / Macro

Chinese banks see surging mobile payments in 2017

Xinhua | Updated: 2018-03-05 19:56
Share - WeChat
All major mobile pay tools are now accepted at a Zhengzhou airport shop in Henan province. MA JIAN / FOR CHINA DAILY

BEIJING - Chinese banks saw a surge in mobile payments last year, official data showed Monday.

Banking institutions handled 203 trillion yuan ($32 trillion) in mobile payments in 2017, up 28.8 percent, according to the People's Bank of China (PBOC).

A total of 37.6 billion payments were made through mobile banking services in the period, an increase of 46.1 percent, the PBOC said.

China's mobile payment sector has seen rapid development, driven by improved Internet infrastructure, increased use of mobile phones and innovation of financial services.

In 2017, bank card transactions in China rose 2.7 percent to 762 trillion yuan, while the number of bank cards in use went up 9.3 percent to 6.7 billion by the end of 2017, according to the PBOC.

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