Mobile payments grow 707 percent in China

China Mobile commerce ticketing payments

Spending reached $200 billion while this growth occurred throughout 2013. According to recent data released by iResearch, a data analysis and online tracking service, the total independent mobile payments transaction volume in China reached approximately $200 billion, last year (1219.74 billion yuan). This represents an increase of 707 percent over the figures that were seen in 2012. The services that were included in the analysis by iResearch included various forms of mobile payments not including the large established banks and massive conventional services such as China UnionPay and the bank…

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