Payments Research

The Chinese mobile payment market is virtually doubling in size every year and is expected to be worth more than US$80 billion with 441 million active users by 2015, according to the latest report from Kapronasia. China has already overtaken the US as the largest smartphone market in the world;…

On March 28, 2012, Trunkbow, a provider of Mobile Payment services in China, announced that it has teamed up with CUP (China Union Pay, the only bankcard switch in China) for the development and deployment of a mobile online-to-offline payment system which will be launch in Q2 2012.

According to a study released by research firm Analysys International, in Q4 2011 online payments in China reached USD 117.3 billion, up by 30.9 percent from Q3 2011. The growth was largely down to an increasing demand for online shopping, travel booking and gaming. Alipay, an affiliate of Alibaba Group, took 46…