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 according to NFC World.
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 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”.
Due to Covid-19, mobile payments thrived in online shopping scenarios such as live-streaming ecommerce. According to the research, 30% of the respondents said they would often buy things during live-stream shows.
Banking 4.0 – „how was the experience for you”
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Many more interesting quotes in the video below:
