BEIJING (September 11): Cashless payments processed by Chinese banks increased steadily in the second quarter, with mobile payments maintaining the growth momentum, Xinhua news agency said.

Cashless payments with bank cards, online – Cash, commercial papers, wire transfers, and other settlements totaled 1,080.82 trillion yuan ($ 167.05 trillion) in the second quarter, up 6.25 percent year over year, according to the People’s Bank of China. From the totals, mobile payments continued to rise to 117.13 trillion yuan, up 10.32 percent year over year, she added.

Bank card transactions hit 240.25 in the second quarter Trillion yuan, up 9.66 percent from a year earlier.

China had 13.12 billion bank accounts at the end of June, 2.05 percent more than the previous quarter, it added.

Ref: https://www.theedgemarkets.com