A new research analysis predicts that this achievement will be made by 2015.
The Chinese mobile payments marketplace is starting to show some very promising figures that are suggesting that this could be one of the dominant worldwide players and that it may be one of the examples that are set for other countries regarding the way in which the technologies can be adopted successfully.
The data from a recent report has indicated that China could be ready for an explosion in this area.
Analysys International, a market research firm, has now released the results of its most recent analysis, which has indicated that by 2015, the mobile payments made within the People’s Republic of China will break the $114 billion mark (CNY712.3 billion). This would mean that in two years, the transactions over that channel will be greater in that nation than in any other country in the world.
The mobile payments report also indicated additional achievements within the next two years.
Beyond the total value of the transactions themselves, Analysis International is also projecting that by 2015, the payments made over third party internet platforms will reach $2.24 trillion (CHY 13.92 trillion), as per the report that was made in China Tech News.
Once the 2012 license structure was fully implemented, companies offering third party transactions started to boost their presence within the mobile payments marketplace. Furthermore, a growing number of traditional payment organizations are beginning to take their first steps into the digital environment, which is boosting the need for those third party providers. This increase in the number of opportunities is further encouraging the growth of the number of those enterprises.
Similarly, the report explained that the recent establishment of the mobile payments standards are having a considerable impact on the marketplace. This made it possible for foreign investors to be able to take their own steps into the smartphone and tablet marketplaces. This is allowing for a much more rapid development of the technology and is boosting the public awareness. The result is that device users are building their acceptance of the transaction method and are starting to choose those options when it comes time to make a purchase.
John Torney is originally from New Jersey and a full time writer. He recently finished up a long term commitment where he worked in a tutoring program for underprivileged students that show an interest in a writing career. John has shown a special interest in technology and the mobile craze - which comes out in his articles. He has written scholarly papers, articles and reviews on topics ranging from insurance to technology news. Father of two young children, he keeps himself plenty busy!