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 number of transaction has rocketed at a staggering rate and it is expected that by the end of 2013 the total transaction value will hit 100 billion RMB. In the future, China Mobile will emphasize more on product innovation and customer services to reinforce its leading position in China’s mobile payment industry.