A new report from the peak body for China’s payments sector indicates that nearly three quarters of Chinese mobile payments users made daily use of such services in 2020.
The “2020 Mobile Payments User Questionnaire Survey Report” (2020年移动支付用户问卷调查报告) released by the Payment & Clearing Association of China (PCAC) indicates that 74.0% of Chinese mobile payments users were daily users in 2020, for an increase of 4.4 percentage points compared to 2019.
38.4% users said to PCAC that the individual payments amounts were typically under 100 yuan, for an increase of 23.3 percentage points compared to 2019, while 16.4% said that the figure ranged between 500 – 1000 yuan, for a decline of 18.9 percentage points compared to last year.
“The increasing daily use of mobile payments for small sums indicates that mobile payments is playing an increasingly important role in making consumption more convenient for users and expediting consumption,” said Dong Ximiao (董希淼), chief researcher with Zhaolian Finance, to state-owned media.
“Mobile payments are increasingly preferred by average consumers, fully indicating that the domestic development of mobile payments infrastructure has made major progress,” said Sun Zhanping (孙战平), a senior executive from China UMS.