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Economy

China sees surging online transactions during Spring Festival

February 06, 2020


Abstract : Chinese card payment giant China UnionPay reported an increasing number of online transactions during the weeklong Spring Festival holiday.

BEIJING, Feb. 5 (Xinhua) -- Chinese card payment giant China UnionPay reported an increasing number of online transactions during the weeklong Spring Festival holiday.

From Jan. 24 to 30, about 1.38 billion online transactions were made through the China UnionPay network, valued at 1.32 trillion yuan (about 189 billion U.S. dollars), data from the company showed.

The number of transactions surged by 13.21 percent year on year while the value marked a 13.3-percent rise, the company said.

Since the novel coronavirus outbreak, China UnionPay has stepped up efforts to ensure the orderly operation of the cross-bank transfer system and UnionPay payment services, according to the company.

It has also strengthened the supervision of the network and transaction environment in Hubei Province and other major epidemic-stricken areas.

The company said that it would cut or waive service charges or cross-bank cash withdrawals fees in such areas throughout the epidemic control period.

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Keyword: UnionPay bank transactions

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