China mobile payment gains fuelled by pandemic - Mobile World Live

China mobile payment gains fuelled by pandemic

02 FEB 2021

Mobile payment transaction numbers in China grew in 2020 as people looked to reduce contact to limit the spread of Covid-19 (coronavirus), research by China UnionPay found.

The annual survey on mobile payments showed 98 per cent of respondents indicated mobile was their most commonly used payment method, up 5 percentage points from 2019. Some 85 per cent of users said they regularly pay by QR code, an increase of 6 percentage points.

In a report, China UnionPay stated the outbreak accelerated consumer shifts to mobile payments because it is regarded as more hygienic. Consumers made an average of three mobile payments a day, a modest increase from 2019. A quarter of those surveyed made more than five mobile payments a day.

While the vast majority of respondents believe mobile payments are secure, many think security precautions are relatively weak, especially payment verification methods.

China UnionPay stated 8 per cent of users faced online fraud and financial losses, down 4 percentage points, while 75 per cent said they received fraudulent messages, 80 per cent of which were delivered by SMS.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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