Chinese mobile payment users set to double by 2023

Mobile payments market in China is expected to witness three-fold growth with doubling of active mobile payment users by 2023 — Frost & Sullivan — “The market of mobile payments services in China is expected to grow at a compound annual growth rate (CAGR) of 21.8% from 2017 to 2023, growing three-fold from US$29.93 trillion to US$96.73 trillion. The total number of active mobile payment customers is expected to reach 956 million by 2023 from 562 million in 2017 which will attract additional investments from mobile payments market participants.”

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