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China Boasts World’s Largest Proximity Mobile Payments Market

High growth continues after usage more than doubled last year

London, UK (June 7, 2016) — The number of people in China using their phones to pay for goods and services at the point of sale (POS) more than doubled last year, and by 2020 almost half of all smartphone users will be making proximity mobile payments, eMarketer projects. According to eMarketer’s first-ever estimates of mobile payment usage in China, there will be 195.3 million people using the technology in 2016—growth of 45.8% over last year.

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Posted on June 7, 2016.