Payments Research

Jun

Mobile Map – A new battlefield for the Chinese Internet giants

Recently, Google managed to beat its rivals including Apple and Facebook to buy Waze, an Israeli mobile-navigation startup. Google will pay for more than $1 billion for this relatively unknown company. Similarly in China. One month ago, Alibaba, a global B2B giant, invested about $3 billion into Amap, China’s leading…

Jun

China Payments Research

China Mobile’s mobile payment transactions by value hits a new record.

According to China Mobile, China’s largest mobile network operator, its monthly mobile payment transaction value, for the first time, exceeded 10 billion RMB, reaching 11 billion in May – even larger than the total transaction value of 2011. Since China Mobile launched its mobile payment business in 2009, the…

Jun

Amount of Credit on Issued Credit Cards in China

China Payments Research

Credit cards are key for stimulating China’s economic growth

From the data released by People’s Bank of China for the first quarter 2013, the transaction volume of bankcards has reached to 100.27 trillion RMB, which is a 7.7% increase from the first quarter in 2012. The accumulated credit card issuance reached 343 million, which gives a credit card holding…

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