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China's Online Payment Leads The Global Trend
Nov 29, 2018

  From the ubiquitous “scan QR code payment” to the streets and all the way to the online trading of international commodities, online payment has gradually become a mainstream of trading methods. According to statistics, in the past 2017, China Mobile Payment entered a concentrated outbreak period. In the third quarter alone, the scale of China's third-party mobile payment transactions reached approximately 29.5 trillion yuan. This year, China's QR code payment is expected to exceed the market scale of 900 billion yuan.


  On January 25th, Worldpay, the independent payment service operator, released the annual (Global Payment Report) . The "Report" pointed out that by 2021, China's e-commerce market will grow by 11% to 1.55 trillion US dollars, ranking first in the global e-commerce market.


                   Credit card usage will decrease


  As "online shopping" becomes another big "China impression" left by the Internet China, it is expected that local payment methods will gradually become mainstream in China's online shopping field, which also reflects the trend of online payment in a decentralized manner. . The reasons, such as mobile wallets, prepaid cards and bank transfers, will replace traditional payment methods such as credit cards and debit cards in the next five years.


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