28 November 2015

China m-payments market set to be largest in world by 2015

25 April 2012  |  7663 views  |  0 Chinese flag

China's mobile payments market is forecast to be the largest in the world by 2015, comprising $80 billion in payments from 441 million active users, according to figures from research house Kapronasia.

The Chinese mobile payment market was estimated to be worth $7.6 billion at end 2011, rising to $84 billion by the end of 2015 - roughly doubling in size every year.

Research by KPMG in 2010 found China leading the world in the uptake of mobile finance, with 77% of consumers using their phones to conduct financial transactions

China has already surpassed the US as the biggest smart mobile phone market worldwide. But with less than 10% of the country's total 900 million mobile phone subscribers using smartphones, there remains tremendous scale for growth in terms of more advanced phones and services, says Kapronasia.

Growth in m-commerce is expected to accelerate further next year, as the Chinese authorities finalise new standards and regulations covering the mobile payments market.

"2012 will prove to be a crucial year for the mobile payments industry as Chinese authorities establish final technology standards," says Zennon Kapron, managing director of Kapronasia. "Firms must continue to push for innovation in both technology and business models in order to stay competitive in this rapidly growing market."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

18 January, 2012
28 September, 2011
15 August, 2011
12 August, 2011
12 May, 2011
12 November, 2010
23 July, 2010
03 June, 2010
13 May, 2010
23 March, 2010
17 March, 2010
04 March, 2010
09 September, 2009
30 June, 2009
Your browser is unable to support Flash files.

Who is commenting?

Finextra Member Commented on: EPC publishes proposal...
Finextra Member Commented on: EPC publishes proposal...

Top topics

Most viewed Most shared
BBVA buys 29.5% stake in Atom for £45...
7816 views comments | 34 tweets | 41 linkedin
BNP Paribas to test contactless payment di...
6114 views comments | 17 tweets | 25 linkedin
Former Barclays chief forecasts massive jo...
6091 views comments | 28 tweets | 30 linkedin
Hilton confirms data breach
5408 views comments | 11 tweets | 17 linkedin
Alternative payment methods challenge plas...
5241 views comments | 21 tweets | 23 linkedin

Featured job

Competitive Package
New York City, NY. USA

Find your next job