UnionPay reported a 4.4 fold increase on transactions during the CNY

Following yesterday’s talk regarding mobile payments rocketing over the week-long Chinese New Year holiday with data elaboration on how senior users and those who live in tier 4 cities or below are embracing this comparatively modern technology on WeChat and AliPay, we are continuing the story of how China’s biggest bank card issuer – UnionPay has achieved, thanks to a grant promotion, a double fold increase on the number of transactions, which is 4.4 times greater compared to last year for the same period. The total payment also soared 71.5% to a record RMB 1.16 trillion (around $170.6 billion).