PBoC highlights ‘rapid’ growth of electronic payments
Mobile payments increase 158% year-on-year
Statistics published yesterday as part of the People's Bank of China's (PBoC) quarterly payments report show electronic payments "grew rapidly" over the quarter.
Electronic payments handled by banks, which include online, telephone and mobile payments, rose by 26% year-on-year to reach 8.4 billion over the quarter.
Mobile payments "remained elevated" the central bank said, accounting for 1.2bn of the total - an increase of 158% year-on-year. In total banks processed electronic payments worth 373
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