Go to the profile of Misha Yang
Misha Yang
I expanded my goal (from FinTech regulation) to providing a quasi-real-time access to the ambitious start-up world in China after moving to Silicon Valley.

China’s 2016 3rd Party Payment transactions have reached 9.4 trillion

According to the most recent report by iResearch, third party payment transactions have reached 9.4 trillion in the second quarter of 2016. The number is an increase of 52.1% over the previous month and 274.9% over the previous year.

The composition breaks down into follows: personal application_64.2%; mobile finance 20.8%; mobile consuming_11.8% and others_3.3%.

notes:

“personal application” includes: money transfer and loan repayment

“mobile finance” includes: purchase financial products on mobile end

“mobile consuming” includes: mobile commerce, mobile groupon, mobile travel and mobile lottery & gaming.

“others” includes: phone bill payment, utilities bill payment and other scenes

The recent decision to charge a fee for cash withdrawal by Wechat is said to boost the size and frequency of virtual payments.

See http://www.iresearch.com.cn/view/263794.html

Updates from 9/16/2016

  • Go to the profile of Misha Yang

    Misha Yang

    I expanded my goal (from FinTech regulation) to providing a quasi-real-time access to the ambitious start-up world in China after moving to Silicon Valley.