Chinese consumers now make three mobile payments every day

Chinese consumer using smartphone to make QR mobile payment
CONVENIENT: 85% of Chinese consumers made mobile payments using a QR code in 2020 Image: Xinhua

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 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 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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