More Chinese consumers use mobile payment tools

By Ding Yining | December 30, 2014, Tuesday |

Online Edition

SIXTY-ONE percent of consumers said in a latest survey that they have used mobile payment channels to pay for general merchandise, including Internet payment and near field communications facilities, a rise of 16 percentage points from a year ago.

Twenty-nine percent of consumers in the survey said they spent more than 2,000 yuan (US$322) online each month, 6 percentage points higher than that in the last year, China UnionPay, the country's sole bankcard transaction firm, said in a report today.

The survey was conducted through July to November this year in 34 provinces and cities, covering 44,000 respondents.

In addition, 58 percent of them said they have been using mobile payment tools to pay for their credit bills and 36 percent made cross-bank transfers through mobile channels.

"Mobile payment is becoming the major target for cyber security criminals and therefore is bringing more risks," said Yuan Xiaohan, general manager of risk management department at China UnionPay.

Moreover, 42 percent of consumers said that mobile payment makes up more than half of their monthly online payment size.

Safety risks were also picking up with a wider adoption of mobile payment. A total of 10 percent of respondents said they've encountered scams involving online transaction, up from that of 6 percent in 2013. Sixty percent of them suffered from financial losses worth less than 500 yuan but 8 percent reported loss more than 5000 yuan.

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More Chinese consumers use mobile payment tools

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