Comment: China shows the future of mobile payment as it hits more than 50% of GDP<div class="feat-image">
</div><p>Listening to some of the <a href="
https://9to5mac.com/guides/apple-pay/" target="_blank" rel="noopener noreferrer">Apple Pay[/url] stats put forward by the company, you might get the impression that the payment method is taking the market by storm. In Apple’s Q1 2017 earnings call, <a href="
https://9to5mac.com/2017/01/31/aapl-q1-apple-pay-user-growth-comcast-bill-payments/" target="_blank" rel="noopener noreferrer">Tim Cook told us[/url] that the number of Apple Pay users tripled year-on-year, and that transaction volumes increased by 500%.</p>
<p>In Q2, we finally got some actual numbers, at least for the US: a total of <a href="
https://9to5mac.com/2017/05/02/live-blog-apples-fiscal-year-q2-2017-earnings-call/" target="_blank" rel="noopener noreferrer">4.5M transactions[/url] to date.</p>
<p>But while these are big numbers, they are still a drop in the ocean given that total card transactions are numbered in the tens of
billions each year. Viewed in this light, Apple Pay accounts for a fraction of a percent of all card purchases.</p>
<p>However, if you want to see the potential of mobile payments, you need look no further than China …</p>
<p> <a href="
https://9to5mac.com/2017/05/30/the-future-of-apple-pay-mobile-payment-china/#more-484002" class="more-link">more…[/url]</p><img alt="" border="0" src="
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Comment: China shows the future of mobile payment as it hits more than 50% of GDP
