The LTP infographic “China FinTech Revolution” shows the rise of the FinTech industry and its impact in China.
The smartphone has now been declared as the universal weapon of revolution by FinTech firms across the world. Countries with high smartphone penetration will surely witness the rise of FinTech firms. In China, smartphone penetration has reached more than 50%. In the case of urban population, the penetration level has crossed 65%. The third-party mobile payments industry in China has seen a stupendous growth in the last three years. Currently, the value of mobile transactions is so high that it is almost double the value of transactions through checks.
The infographic highlights the below statistics in China's FinTech industry:
- Smartphone penetration
- Usage of cheques
- Mobile payments
- Third-party mobile payments
- Players in third-party mobile payments
Note: Infographics are rich visual representations of information and data intended to present complex information quickly and clearly. An Infographic is a structured outcome of the primary and secondary research conducted by MEDICI analysts in more than 30 FinTech segments. Infographics can be integrated with the corresponding Segment Snapshot, Research Report and Strategic Insight for a more detailed analysis.