Chart of the Day: China’s Mobile Payment Transaction Volume Hits $41.51 Trillion in 2018
China has seen an explosive growth in mobile payments over the past five years. Transaction volume reached 277.4 trillion yuan ($41.51 trillion) in 2018, up more than 28 times from five years ago, according to the People’s Bank of China (PBOC).
The total number of transactions made via mobile payment platforms surged to 60.53 billion last year, up from 1.67 billion back in 2013, a report from the central bank (link in Chinese) Thursday shows.
![]() |
Mobile payment platforms Alipay and WeChat Pay control more than 90% of the market.
By the end of 2018, 424 commercial banks and 115 payment institutions were connected to the PBOC-backed NetsUnion Clearing Corp. — which serves as the sole intermediary for the clearing of nonbank online transactions.
Contact reporter Gao Baiyu (baiyugao@caixin.com)
-
Apr 16 11:48 PM
-
Apr 16 08:51 PM
-
Apr 16 06:48 PM
-
Apr 16 12:30 PM
-
Apr 15 07:22 PM
-
Apr 15 06:56 PM
-
Apr 15 06:49 PM
-
Apr 15 03:43 PM
-
Apr 14 07:38 PM
-
Apr 13 10:04 PM
-
Apr 13 07:04 PM
-
Apr 13 07:02 PM
-
Apr 13 07:00 PM
-
Apr 13 02:24 PM
-
Apr 12 07:07 PM
- 1Cover Story: Tech Giants Bet on the Smart-Car Revolution
- 2Ling Huawei: Huarong Can’t Be Treated Like a Normal Company in Bankruptcy Restructuring
- 3Beijing Exhibitions: Everything You Need to See in April
- 4Update: Alibaba Fined $2.8 Billion in Landmark China Antitrust Ruling
- 5Weekend Long Read: Zhou Xiaochuan on the Key Questions Facing China’s Carbon Ambitions (Part I)
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas