Payment Observer

The Latest News, Industry Insights and Research Findings on Global Payment Markets

26Apr/12

Research Report: China to Become the Largest Mobile Payment Market – Worth $80B by 2015

By Gary Merrett

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Kapronasia, a research and consulting company focusing on the financial industry in Asia, the Chinese mobile payment market will be worth more than $80 billion with 331 million active users by 2015.

Although China has already surpassed the U.S. as the biggest smartphone market, the penetration rate is still low (less than 10%), leaving a giant scale for growth. Zennon Kapron, managing director of Kapronasia believes that “2012 will prove to be a crucial year for the mobile payments industry as Chinese authorities establish final technology standards”. Kapronasia estimates that the mobile payment market in China will roughly double its size every year (estimated at $7.6 in 2011) and become the largest mobile payment market by 2015.

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