China's non-cash payments soar in 2Q

China's non-cash payments soar in 2Q
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BEIJING (Sept 11): The non-cash payments handled by Chinese banks maintained steady expansion in the second quarter, with mobile payments sustaining growth momentum, Xinhua news agency reported the central bank said.

Non-cash payments, involving bank cards, online payment vehicles, commercial papers, credit transfer and other settlements, totaled 1,080.82 trillion yuan (US$167.05 trillion) in the second quarter, up 6.25 percent year on year, according to the People's Bank of China.

Of the total, mobile payments sustained an upward trend to 117.13 trillion yuan, up 10.32 percent year on year, it added.

The bank card transactions hit 240.25 trillion yuan in the second quarter, up 9.66 percent year on year.

China had 13.12 billion bank accounts at the end of June, up 2.05 percent from the previous quarter, it added.