Mobile Wallets Now Control 84% of Payments in China

May 28, 2024 10:05:00

A recent GlobalData survey has revealed that a majority of payments in China are now occurring through mobile money wallets. The survey found that mobile money wallets are responsible for covering a whopping 84% of payments in the east Asian nation, a concrete sign that Chinese consumers have overwhelmingly bought into mobile money wallets.

According to the GlobalData 2023 Financial Services Consumer Survey, slightly more than 84% of consumers in China reported that they had…

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