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Amount of Mobile Payment Transactions Increased by 16.76% in Q1

Submit Time:21-06-2018 | Zoom In | Zoom Out

Author: | Source:People’s Daily (May 25, 2018)

Abstract:

Banking institutions handled 39.592 billion electronic payments in the first quarter, for total amounts of 746.33 trillion yuan, according to the Q1 overall operation report of the payment system released on May 24 by the People's Bank of China. They included 12.101 billion online payments, for amount of 635.76 trillion yuan, a year-on-year increase of 7.12% in the number of payments and a year-on-year decrease of 3.49% in amount; and 10.963 billion mobile payments for amount of 70.82 trillion yuan, a year-on-year increase of respectively 17.84% and 16.76%. Non-banking payment institutions handled 110.191 billion online payments, for amount of 51.13 trillion yuan, a year-on-year increase of respectively 134% and 93.15%.  

Data show that in Q1, the payment system ran steadily nationwide, the social capital transaction scale kept on expanding, and the payment operation quantity was stable with some increase. Nationwide, a total of 45.585 billion non-cash payments were handled, for amount of 930.6 trillion yuan, a year-on-year increase of respectively 36.6% and 0.21%.  


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