China’s Mobile Payment Transaction Volume Hit $41.51 Trillion in 2018
China has seen an explosive growth in mobile payments over the past five years. Transaction volume reached 277.4 trillion yuan ($41.51 trillion) in 2018, up more than 28 times from five years ago, according to the People’s Bank of China (PBOC).
The total number of transactions made via mobile payment platforms surged to 60.53 billion last year, up from 1.67 billion back in 2013.