The development of mobile payment in China catches the pace with the economy. In 2016, the transaction volume of mobile payment in China registered more than USD 5 trillion, compared to the USD 11.2 trillion GDP in the same year.
Chinese tourists spend the most in international tourism since 2012, and China topped the list with USD 261 billion. Alipay dominated the in-store transaction in Asia during Golden Week in 2017. The third-party payment platform continues broadening its international coverage and now extends its footprints to European and North American cities where the shopping hotspots of wealthier Chinese tourists.
Payment Asia will introduce the payment method to more SMEs around the world to benefit from the growing Chinese tourism. Established in 1999, the company offers online payment technology and electronic business management solutions to Hong Kong and overseas SMEs and multinational corporations. It provides merchants with comprehensive business solutions that includes online payment processing, credit card, debit card, and mobile devices. Currently, Payment Asia serves more than 3000 domestic and foreign merchants.
For more information about Payment Asia, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
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