iRe­search Re­port: Q2 Mo­bile Pay­ments Trans­ac­tion Vol­ume in China Rises 22.6% YoY

A new re­port points to an over 22% surge in Chi­na’s mo­bile pay­ments trans­ac­tion sum in the sec­ond quar­ter of 2019.

The “China Third Party Pay­ments Sec­tor Data Re­lease Re­port for the first half of 2019 re­leased by iRe­search Con­sult­ing Group in­di­cates that the sec­ond quar­ter saw 55 tril­lion yuan in third party mo­bile pay­ments trans­ac­tions, for a YoY rise of 22.6%.

Ac­cord­ing to the re­port Chi­na’s mo­bile pay­ments trans­ac­tion scope has en­tered a pe­riod of steady growth, as users be­come ac­cus­tomed to mo­bile pay­ments and the mo­bile pay­ments cov­er­age rate con­tin­u­ally rises.

The third party mo­bile pay­ments trans­ac­tion vol­ume for the first half of 2019 was 110.4 tril­lion yuan, while the of­fline bar­code pay­ments mar­ket trans­ac­tion scale was ap­prox­i­mately 15.4 tril­lion yuan.