China’s Mobile Payments Will Reach Over CNY700 Billion By 2015

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Market research firm Analysys International published its latest statistics: by 2015, China's third-party Internet payment scale will reach CNY13.920 trillion.

The numbers also show the number of registered Internet payment accounts will be 1.378 billion; and the mobile payment scale will be CNY712.3 billion.

The company said the Chinese third-party payment license structure was basically determined in 2012. After gaining the licenses, those third-party payment enterprises increased investments in various sectors to accelerate their distribution in the market.

More and more traditional enterprises are entering the e-commerce market, which promotes the development of the third-party payment market in China. At the same time, the development of emerging markets such as insurance and cross-border payment provides a growth foundation for t...

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