Mobile payments market explodes

The mobile payments market in China is expanding so rapidly that global leaders are drawing up exclusive strategies to meet the growing local demand.

According to Paul Jung, head of products and digital solutions of Visa Northeast Asia, China is now leading the way in mobile wallets.

So, during the three-day 2016 Mobile World Congress that ended on July 1 in Shanghai, Visa Inc, the global card payment services provider, announced its mobile payment services will combine internet of things and biometrics.