Shanghai residents purr over Alipay
Print Edition
SHANGHAI residents spent the most through Alipay, with average spending amount jumping nearly 50 percent from a year ago to 148,000 yuan (US$21,332), according to latest figures released by Alibaba’s payment and financial affiliate yesterday.
The purchase of physical goods by Shanghai residents amounted to 16,804 yuan of the total spending, while online services such as payment of public utility bills and wealth management products have also gained momentum in the city.
Overseas payment through digital channels is also booming with the top outbound destinations for travel being Korea, Hong Kong, Thailand, Taiwan, Japan and Australia, according to Alipay data.
The average overseas payments via Alipay by Shanghai residents nearly doubled from a year ago to 1,471.8 yuan.
The provinces of Fujian, Jiangsu and Zhejiang as well as Beijing also saw average individual expenditure through Alipay surpass 100,000 yuan.
In terms of total amount transacted via Alipay, Shanghai was fourth after Guangdong, Zhejiang and Jiangsu provinces.
The adoption of smartphones contributed to mobile payments making up 71 percent of the overall payments in 2016 in China, up from 65 percent a year ago. In Shanghai the proportion was 69 percent.
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