Mobile payment users exceed 200 million in China

2014-11-03 06:42:49 GMT2014-11-03 14:42:49(Beijing Time)  ecns.cn

The number of China's mobile payment users has reached 205 million, the Guangzhou Daily reported, citing Ning Meng, deputy director of Best Pay, a mobile payment platform launched by China Telecom.

Asia is seeing the world's fastest growing number of mobile payment users, Ning added.

The amount of payments made on mobile devices accounted for 23.3 percent of online payments in the third quarter, according to Ning.

The number of users in south China is larger than in the northern region, a report released by Best Pay revealed. Provinces with over 3 million mobile payment users are located in the south.

Most users pay 100 to 500 yuan via their mobile devices per month, accounting for 4.5 percent to 19.5 percent of their incomes, according to data provided by iResearch, a leading company focused on research of China's Internet industry.

Zhong Hefu, business department manager of iResearch, said third- and fourth-tier cities, along with rural areas and western regions, have been major targets for payment companies.

He also said third-party payment platforms will develop into leaders in the online payment industry.

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