China’s third-party mobile payment market has increased its expansion as cashless transactions gains popularity in the country.
Reports from Beijing marketing consultancy firm, say the second quarter of 2017, third-party mobile payment transactions increases to more than 3.46 trillion U.S. dollars, up by 22.50.
This shows the growth rate in e-commerce transactions and other financial trading activities.
China’s Internet giants, Alibaba and Tencent, maintains dominance in the industry, taking 92.8 percent of the market.
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