China's Mobile Payments Widened by 34% in Second Quarter
Zhang Yushuo
DATE:  Aug 20 2020
/ SOURCE:  Yicai
China's Mobile Payments Widened by 34% in Second Quarter China's Mobile Payments Widened by 34% in Second Quarter

(Yicai Global) Aug. 20 -- People in China were increasingly keen to pay for services and goods via the country's various mobile payment platforms in the second quarter, according to the central bank.

The value of mobile payments rose 33.6 percent to CNY106.17 trillion (USD15.34 trillion) in the second quarter from a year ago, according to the People's Bank of China.

Chinese banks processed nearly 57.8 billion transfers worth CNY674.01 trillion over the quarter. Clients used the lenders' mobile apps for more than half of those transactions at 30.1 billion, rising 27 percent.

Editor: Emmi Laine

Follow Yicai Global on
Keywords:   mobile payment