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Mobile Payment Users Top 300 Million in China

Statistics found in the latest report from China Internet Network Information Center(CNNIC) suggests exponential growth for the country’s mobile market. In 2014, China’s smartphone internet users rose by 11.4 percent. But according to TechCrunch, these numbers may not be entirely accurate due to missing data on dual SIM cards. Nevertheless, the official report is still impressive. Based on the country’s general population, analysts expect the figures to go even higher in the next 3-4 years. China’s mobile banking sector influence correlates with CNNIC’s announcement, growing over 69.2 percent last year. Nearly half of the country’s 304 million payments consumers use a handheld device to initiate online transactions.

Read the whole story at PaymentWeek »

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