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Agricultural Development Bank of China
Economy

China mobile payments maintain rapid growth in Q3

November 25, 2019


Abstract : China's mobile payments continued fast growth in the third quarter of 2019, showed data from the central bank.

BEIJING, Nov. 23 (Xinhua) -- China's mobile payments continued fast growth in the third quarter of 2019, showed data from the central bank.

Banks in the country processed 27.27 billion mobile payment transactions in the period, up 61.05 percent year on year, said the People's Bank of China in a report.

Value of these transactions increased by 31.52 percent from the same period of last year to 86.11 trillion yuan (about 12.2 trillion U.S. dollars).

Meanwhile, online payment transactions by the non-banking institutions were valued at 63.99 trillion yuan in Q3, up 23.04 percent year on year.

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Keyword: mobile payment emerging industry

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