China 's mobile payments market will grow three - fold by 2023 , with active mobile payment customers reaching 956 million from 562 million in 2017 , according to a report by Frost & Sullivan . The growth is attributed to low credit card use , widespread e - mail use and a growing middle class . The report said China will focus on enhancing the availability of mobile payments , and will be an important player in the global mobile payment market .
China's mobile payments market will grow three-fold by 2023, with active mobile payment customers reaching 956 million from 562 million in 2017, according to a report by Frost & Sullivan. The growth is attributed to low credit card use, widespread e-commerce use and a growing middle class. The report said China will focus on enhancing the security of mobile payments, and will be an important player in the global mobile payment market.