China's Mobile Payments Will Reach Over CNY700 Billion By 2015January 8, 2013 | Print | Comments | Category: Business, Telecom & Wireless
Market research firm Analysys International published its latest statistics: by 2015, China's third-party Internet payment scale will reach CNY13.920 trillion.
The numbers also show the number of registered Internet payment accounts will be 1.378 billion; and the mobile payment scale will be CNY712.3 billion.
The company said the Chinese third-party payment license structure was basically determined in 2012. After gaining the licenses, those third-party payment enterprises increased investments in various sectors to accelerate their distribution in the market.
More and more traditional enterprises are entering the e-commerce market, which promotes the development of the third-party payment market in China. At the same time, the development of emerging markets such as insurance and cross-border payment provides a growth foundation for the third-party payment market.
In addition, mobile payment standards were achieved on the market level. Banks and financial organizations start joining the development and cultivation of the Chinese mobile payment market, and innovative mobile payment methods like mobile phone payment and two-dimensional code payment begin to emerge. Those situations will continue to stimulate the development of mobile payments in China.
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