Mobile payments are set for rapid growth in China, according to new research. The country will have 230 million mobile payment users by the end of this year, spending 11.37bn yuan (US$1.8bn) — 400 percent up on 2010 — reports China Daily. This is expected to rise to 320m users and 35.78bn yuan in 2012.
- Visa CEO identifies mobile payment as major growth driver
- 60% of consumers will share data with stores
- Bedier unveils Poynt POS
- Kili puts mPOS in a chip
- Charity picks up contactless pennies