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China Facts: The mobile wallet

 

 

For about 425 m Chinese, or 65% of all mobile users, phones act as wallets, the World's highest penetration rate, according to Chinese Ministry of Industry and Information Technology. Mobile payments hit 38 trn yuan ($5.5 trn) last year, up from next to nothing five years earlier - and more than 50 times the size of the American market*) 

 

*) the Economist 25th March 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

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