year: The number of transactions surged by 79.6 percent year on year while the value marked a 22.32-percent rise, the statement said, according to Global Times China. The number of online payment transactions surged 34.59 percent year on year to 16.29 billion while the value dipped 2.06 percent to 622.68 trillion yuan, the data showed. Banks and financial institutions dealt with 19.69 billion mobile payment transactions valuing 86.62 trillion yuan 12.6 trillion U.S. dollars in the first three months, the People's Bank of China said in an online statement. China is the world's largest mobile payment service market, with both tech and financial giants promoting their own tools to facilitate easier payments for daily shopping, dining and commuting. Shanghai, Hangzhou, Beijing lead China's mobile payment development More senior Chinese use mobile payment overseas Alipay
(news.financializer.com). As
reported in the news.
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