Why mobile payments are taking off in China

The move to adopt mobile payments is progressing at a slow pace, largely because lack of a steady framework across shopping channels is slowing the adoption of mobile payments technology in North American and European markets. However, the same cannot be said about Asian markets, where mobile payments technology appears to be taking off. A recent survey by KPMG found consumers in China are embracing the push toward mobile payments at a much faster rate than consumers in the U.S. and U.K. KPMG’s annual China’s Connected Consumers Survey found that about 90 percent of 2,560 respondents made at least one online purchase using a smartphone compared to 74 percent of U.S. consumers and 74.6 percent of U.K. consumers. Read more: pymnts.com