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The People’s Bank of China has announced a 318% increase in mobile payment values in 2013 compared to 2012.

It advised that 16.74bn mobile transactions with a value of 9.64tn Yuan (US$ 1.66tn) were processed during the period.

Online payments made via computers grew by 28.9% year on year, totalling 1,061tn Yuan in 2013. Phone payments decreased by nearly 9% totaling 4.74tn Yuan.

The Bank also advised that the value of “non-electronic” bank card transaction – cash deposits/withdrawals and store purchases – increased by 22.28% totaling 423.36tn Yuan (US$ 72.9tn).

Source: ShanghaiDaily.com