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”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
