Deep Dive 20 minutes PremiumMobile Payments In China Coresight Research November 19, 2016 Executive Summary The Chinese mobile payment market has grown rapidly and will reach ¥2 trillion (US$1.83 trillion) in 2016, up from ¥0.2 trillion (US$31.7 million) in 2012, according to iResearch. E-wallets account for a 58% share of the mobile payment market in China—the highest percentage globally—indicating that mobile payments are an integral part of the Chinese shopping experience. In the US, the figure is just 15% and in the UK, it is 23%. Mobile payment systems based on NFC and QR code technologies are most common in China. New regulations and improved security will provide more clarity on the evolving mobile payment industry in China. Retailers in China need to optimize their mobile payment strategies in order to increase sales and customer retention. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: Weinswig’s Weekly: The Year of the Rabbit Is Here!Weekly US and UK Store Openings and Closures Tracker 2023, Week 34: Ace Hardware Drives US OpeningsRetail-Tech Landscape: Retail MediaOctober 2023 Leading Indicators of US Retail Sales: Mixed Signals as Retail Heads into Holiday
