China UnionPay has just released a new survey on the state of mobile payments security in 2019.
On 2 April China UnionPay released the “2019 Mobile Internet Payments Security Survey Report” (2019移动互联网支付安全大调查报告), which collected a total of 62,000 responses from consumers in 34 of China’s province-level administrative units.
Key trends uncovered by the survey included:
- An ongoing rise in both average usage frequency and consumption value;
- Mobile payments have already emerged as a key channel for financial inclusion;
- Fintech is helping to increase the convenience and security of mobile payments, by means of biometrics and other forms of identification and;
- Security awareness is increasing amongst Chinese consumers, with loss incidents on the decline.
According to the survey Chinese mobile payments users made 3.25 mobile payments times per day on average in 2019.
Small business owners – including independent entrepreneurs, private business owners and online vendors made more frequent use of mobile payments, at an average of over five times per day on average.
The per capita monthly mobile payments amount increased by 11% compared to 2018 to reach over 2,900 yuan, with 20% of consumers making monthly mobile payments of over 5,000 yuan.
Transportation was the most common area of usage for mobile payments in China last year, with the metro systems of 32 cities accepting UnionPay payments, and over 10,000 car parks in over 200 cities also accepting UnionPay’s touch-free payments or mobile payments.
UnionPay undertook the survey with 17 of China’s national commercial banks and 18 different payments organisations, while 70% of its respondents were between 25 and 45 years of age.
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