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More than 500 million Chinese people already use their mobile phone to make payments

More than 500 million Chinese people use their mobile phones to pay, according to data from Ant Financial, the company that owns Alipay, one of the most widely used payment platforms in the country.

Shanghai (China), Nov 23 (EFE) .- More than 500 million Chinese people use their mobile phones to pay, according to data from Ant Financial, the company that owns Alipay, one of the platforms of most used payment in the country.

The company, belonging to the giant of electronic commerce Alibaba, reported that the number of users of mobile payments in China has exceeded 520 million (a lucky number in China for its phonetic similarity to "I love you").

According to the People's Bank of China (central), the country's banks processed 8,600 million payments of mobile services in the second quarter of this year, 40.5% more than in the same period of 2016.

The combined value of mobile payments increased by 33.8% and reached 39, trillions of yuan (6 trillion US dollars).

More and more Chinese people are making all kinds of payments with smartphones every day through platforms. like Alipay, Wechat or Apple Pay.

According to a report produced jointly by Tencent (owner of the WeChat payment and messaging platform), the Renmin University of China and the company of Ipsos market studies, 84% of Chinese people said they are "comfortable" leaving home alone with their phones and without cash.

According to a report by the Association of Payments and China Settlements (PCAC) published in April, withdrawals of cash using bank cards fell in volume for the first time in China in 2016, by 10.46%.

months, Ant Financial said it planned to spend 6 billion yuan (800 million euros, 870 million dollars) in the next two years to push forward a campaign to encourage payments mobile

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