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Xinhua Credit
Economy

China reports online payment surge during "Double 11" shopping spree

November 13, 2019


Abstract : The amount of online payments through NetsUnion, Chinese online payment clearinghouse, and China UnionPay, a card payment giant, surged 162.6 percent year on year during the "Double 11" shopping spree, according to the central bank.

BEIJING, Nov. 13 (Xinhua) -- The amount of online payments through NetsUnion, Chinese online payment clearinghouse, and China UnionPay, a card payment giant, surged 162.6 percent year on year during the "Double 11" shopping spree, according to the central bank.

A total of 1.78 billion transactions were completed Monday through the two platforms, with total online payments reaching 1.48 trillion yuan (about 211 billion U.S. dollars), according to the People's Bank of China (PBOC).

Payments through NetsUnion stood at 1.16 trillion yuan, increasing 147.25 percent year on year.

The PBOC said it would continue to support the banking and non-banking payment institutions to provide convenient and safe services to promote the sound development of the payment sector.

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