According to a recent survey, the volume of online payments made by providers of payment services in China reached 134.4 trillion U.S. dollars as of 2012
According to a report published by the China Association of Payment and Clearing (Payment & Clearing Association of China, PCAC), for banks in 2012, it produced about 19.2 billion online transactions for a total of about 133.4 trillion dollars. The study results also show that 10.46 billion payment transactions in the amount of $ 1.1 trillion were processed by other processing companies.
This report highlights that online transactions are committed not only to your online stores and with the payment, but also in areas related to education, tourism, insurance, utilities and health services. According to experts, the continuous growth of various payment instruments and has caused problems relating to the safe storage of cash and customer information.
According to the PCAC, the People’s Bank of China currently approved 197 non-financial institutions as providers of payment services, of which 72 have the right to process online transactions.