More than half a billion people in China will be paying with their phones in brick-and-mortar shops, cafes and restaurants this year, according to the Statista Digital Market Outlook. That equals a penetration rate of more than 35 percent, the highest in the world.
India ranked second with a penetration rate of 29.5 percent, followed by Indonesia (15.9 percent) and Israel (14.5 percent).
However, the overall annual transaction value per customer in China is lower than that in the US, the UK and France. The average Chinese consumer is projected to spend about $1,100 with payment apps in 2019, compared to more than $2,400 in the UK and almost $3,000 in the US.
Let’s take a look at the world’s 10 leaders in mobile payment.
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No 10 France Penetration rate: 2.2 percent
No 9 United Kingdom Penetration rate: 6.6 percent
No 8 Spain Penetration rate: 7.3 percent
No 7 Brazil Penetration rate: 7.9 percent
No 6 United States Penetration rate: 8.8 percent
No 5 Russia Penetration rate: 10.6 percent
No 4 Israel Penetration rate: 14.5 percent
No 3 Indonesia Penetration rate: 15.9 percent
No 2 India Penetration rate: 29.5 percent
No 1 China Penetration rate: 35.2 percent