Chinese consumers spent US$5.5 trillion via mobile payment platforms in 2016, about 50 times more than their American counterparts. By the end of 2016, Tencent alone saw its active mobile payment accounts exceed 600 million users per month.
The average payment transactions also exceed 600 million transactions per day. The cashless lifestyle is now becoming a reality in China.
All online payments to go through a network platform in China by mid 2018 »
52% of Chinese use cash for only 20% or less of their monthly consumption.Click To Tweet 74% of people stated that they can live for more than a month with only 100 RMB in cashClick To Tweet 84% Chinese surveyed reported that they could accept a totally cashless life.Click To TweetWeChat Pay launched open platform for overseas merchants
Also check out: China third-party online payment market overview Q1 2017