According to the Payment & Clearing Association of China (PCAC), via the Internet, the dominance of banks was more obvious, with CNY 1,061 trillion in 23.7 billion transactions.
Third-party payment firms dealt with 15 billion online transactions worth CNY 8.96 trillion.
Data from the PCAC revealed that China had granted licenses to 90 non-bank institutions to carry out online payment business by the end of last year, while allowing 37 non-banks to take mobile payment business.
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