2017中国移动支付使用报告（英文版）_27页_1mb

2017 Mobile Payment Usage in China Report Summary

Core Content

The 2017 Mobile Payment Usage in China Report provides an in-depth analysis of the rapid growth and widespread adoption of mobile payment technologies in China. It highlights how mobile payments have become a core element of the "Smart Life" concept, integrating online and offline experiences through mobile internet and cloud computing. The report emphasizes the shift from traditional cash-based transactions to a cashless lifestyle, driven by convenience, efficiency, and the integration of financial services.

Main Points

1. Mobile Payment Growth

• From 2013 to 2016, the number of non-banking mobile app transactions in China increased from 3.777 billion to over 97 billion, with a compound annual growth rate of over 195%.
• Mobile payment is now a core part of daily life in China, especially in small transactions.

2. WeChat Pay Dominance

• WeChat Pay has become the main cashless payment method for daily small transactions.
• As of Q1 2017, Weixin and WeChat combined had a monthly active user base of 938 million, up by 23% year-on-year.
• By the end of December 2016, Tencent had over 600 million active mobile payment accounts and daily transactions.

3. User Behavior Trends

• 40% of Chinese people carry less than 100 RMB in cash daily.
• Post-90s generation is the most used to a cashless lifestyle.
• Women tend to carry less cash than men.
• 52% of Chinese use cash for only 20% or less of their monthly spending.

4. Regional Adoption

• Eastern and Northern China have the highest adoption rates of mobile payments.
• 87% of interviewees in Eastern China are open to a fully cashless life.

5. Industry Penetration

• Dining has the highest adoption of mobile payments, with almost all dining establishments accepting them.
• Convenience stores are the most frequent users of mobile payments.
• Movie theaters, taxis, hotels, and tourist attractions are also major adopters of mobile payment systems.
• Brand retail and appliance stores have shifted from credit cards to mobile payments.

6. Future Prospects

• Mobile payments will narrow the gap between urban and rural consumers.
• They will improve financial credit ratings by connecting daily transactions with credit systems.
• Mobile payments will enhance the inclusiveness of financial systems, enabling individuals without collateral or credit records to build credit through transaction data.
• They will also drive the development of a more productive society by offering better payment experiences and more inclusive financial services.

Key Information

• Mobile payments are now standard in travel, with consumers using them to pay for taxis, hotels, tourist attractions, and gas stations.
• Cash usage is declining, with 73% of users using cash only when no mobile payment options are available.
• User concerns about not carrying cash are low, with 84% feeling calm and 12% feeling concerned.
• Mobile payments are not replacing cash but enhancing convenience and inclusiveness in financial services.
• WeChat Pay is a social platform and payment tool, reflecting the social nature of money as per Georg Simmel.
• Chinese FinTech models, starting with mobile payments, are beginning to influence the global financial landscape, offering digital inclusive finance to the 2 billion people not covered by traditional financial systems.

Conclusion

The report underscores the ubiquity of mobile payments in China and their transformative impact on consumer behavior, business operations, and the financial system. It predicts a future where mobile payments will continue to grow, bridge the urban-rural divide, and promote financial inclusiveness, all while necessitating innovative regulatory techniques to ensure security, privacy, and governance. The cashless lifestyle is not just a trend but a fundamental shift in how people interact with money and technology in China.