China’s online banking transaction values reached 510 trillion yuan (US$78.24 trillion) with an increase of 17.6% QoQ in Q4 2015 according to Analysys. The increase was mainly due to the improvement of online banking services and promotion of online shopping business.
Chinese online banking transaction saw rapid growth in the fourth quarter of 2015. The online financing service, online loan service, comprehensive financial services, enterprise online banking services, and others intensified the business of online banking market in China in Q4 2015. And, the busy online shopping transactions driven by Double 11, Christmas Day, Double 11, New Year’s Day and so on greatly increased the online banking payment.
China Industrial & Commercial Bank (28.4%), China Construction Bank (12.7%), Bank of Communication (10.9%), Agricultural Bank of China (10.3%), and Bank of China (7.4%) led China’s online banking market in Q4 2015.
Enterprise online banking service was regarded as the focus for banks to generate more transactions. Many online banks have concentrated on the enterprise demands from the increase of transaction values in the third and fourth quarter of 2015.
Also read: China E-Payment Insights 2015