China has the highest mobile payment adoption


• Billion+ people in China will be paying with their phones this year

• Penetration rate of 32%, highest in the world

• Overall annual transaction value per customer is higher in the U.S and several European countries like the UK, Denmark and France than in China

• Average Chinese consumer is projected to spend around $1,600 with payment apps in 2020, compared to more than $4,400 in the UK and more than $7,000 in the U.S

• Scandinavian countries take the lead when it comes to user penetration in Europe, while Germany and France lag behind

Source: Statista

By Pulkit Bhardwaj

Btech, MBA | IIT Kanpur alumnus