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Mobile payment scale rises in 3rd quarter: report

2018-January-2       Source: Xinhuanet.com

The scale of mobile payment in China exceeded 29 trillion yuan (4.5 trillion U.S. dollars) in the third quarter of 2017, a report indicated.

The scale of mobile payment in China exceeded 29 trillion yuan (4.5 trillion U.S. dollars) in the third quarter of 2017, a report indicated.

According to the report released by internet research agency Analysys, the amount is a quarter-on-quarter increase of 28.02 percent.

Sectors such as e-commerce, food delivery services and travel saw steady growth, and mobile payment is becoming increasingly popular in smaller cities. In addition, mobile payment in public transportation also contributed to the high-speed growth, according to the agency.

Meanwhile, the total payment value via the internet rose 8.59 percent quarter on quarter to about 6.4 trillion yuan in the third quarter.

E-commerce powerhouses like Alibaba and JD.com saw steady growth. The number of new users on their peer-to-peer lending, games and education platforms experienced growth, which contributed to internet payment growth, the report said.

Editor: Will

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