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.
- Central bank tightens rules on accepting cards and cash in Chinese stores
- Eight million merchants now accept Paytm QR payments in stores
- Facebook patent sets out how AIs could accept Messenger payments
- Uber to let customers use Venmo to share costs with friends
- Seoul moves forward with plans for its own S-Pay payments system