By Tom Phillips[1] • • Updated • nfcw.com[2]
Chinese consumers made an average of three mobile payments a day during 2020, while 98% of the Chinese population consider mobile payments to be their most frequently used transaction method, an increase of five percentage points on last year, a new survey reveals.
The number of consumers making mobile payments using a QR code also rose to 85%, up six percentage points on 2019.
The research, published jointly by payments giant China UnionPay[3] and 17 other Chinese payment and banking services, also shows that 98% of survey participants consider mobile payments to be safe and that “people born after 1995 are the major force frequently using mobile payments”.
“Mobile payments are convenient,” People’s Daily reports[4] China UnionPay’s Wang Yu as saying.
“User habits, merchant discounts and sales promotion activities have also contributed to the deep penetration of mobile payments.”
“‘Due to Covid-19, mobile payments thrived in online shopping scenarios such as live-streaming ecommerce,’ said Wang,” People’s Daily adds.
“According to the report, 30% of the respondents said they would often buy things during live-stream shows.”
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