Fri, 22 Jan 2021

China's non-cash payments post steady growth in Q3

Xinhua
29 Nov 2020, 13:44 GMT+10

BEIJING, Nov. 29 (Xinhua) -- China's non-cash payments maintained steady growth in the third quarter of 2020, a central bank report has shown.

The amount of money involved in non-cash payments, including commercial papers, bank cards and online payment vehicles, stood at 1,043.22 trillion yuan (about 158.65 trillion U.S. dollars) in the third quarter, up 12.66 percent year on year, the People's Bank of China said in the report.

The pace of growth accelerated from the 6.83 percent year-on-year increase registered in the second quarter.

Bank card transactions rose 6.86 percent year on year to 235.72 trillion yuan during the period.

Mobile payments posted rapid growth in the third quarter, surging 35.57 percent from a year earlier to 116.74 trillion yuan, according to the report.

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