More than 500 million Chinese use mobile payment

Pueblo en Línea 2018: 07: 20.13: 48

Pbadengers scan QR codes on their smartphone screens to pay for the subway ticket in Shenzhen, Guangdong Province on May 8, 2018. [Foto: Mao Siqian/ Xinhua]

Beijing , 20/07/2018 (The People Online) – China has experienced a rapid expansion in the number of people using mobile payment. By the end of 2017, there were already 527 million users. This figure represents a growth of 12.3%, according to a new report from the China Internet Society.

Last year, the number of Chinese users of online payment systems has reached 531 million people, checking the expansion of 11.9% year-on-year.

Compared with 2016, online purchases also grew by 32.2%, totaling 7.2 trillion renminbi transactions (close to 1.1%). billions of dollars) during 2017.

Growth took place in a context favorable to the expansion of mobile payment, particularly through payments via smartphones.

Last year, China had 772 million Internet users. Of these, 97.5% use the mobile Internet, said the China Internet Society

. The growth of the Asian giant's mobile payments sector is spurred by investment in improving existing infrastructure and Internet innovation.

China has the largest 4G network in the world and continues to work on 450,000 new 4G base stations this year to improve signal coverage in buildings, elevators, interior spaces, railways and highways. The favorite of online shopping, mobile payment has become popular in physical stores and restaurants. In fact, it is almost universal in everyday tasks, which also makes China the largest mobile payment market in the world.

(Web Editor: Rosa Liu, Rocío Huang)