Mobile payments in China are taking off at a much quicker rate than in Europe and the US. KPMG's annual China's Connected Consumers Survey found that 90% of 2,560 North American respondents had made more than one online purchase using a smartphone, compared to only 74% of US consumers and 74.6% of UK consumers. An important reason for the increased use of mobile payment technology in China is said to be that the technology is more widely available for relatively cheap transactions, which provides consumers with a low-risk way of getting accustomed with the payment method.
Mobile payments in China are taking off at a much quicker rate than in Europe and the US. KPMG's annual China's Connected Consumers Survey found that 90% of 2,560 Chinese respondents had made more than one online purchase using a smartphone, compared to only 74% of US consumers and 74.6% of UK consumers. An important reason for the increased use of mobile payment technology in China is said to be that the technology is more widely available for relatively cheap transactions, which provides consumers with a low-risk way of getting accustomed with the payment method.