China e-banking service is developing rapidly, especially mobile banking service. In 2014, mobile banking users increased by 50% from the same period of prior year. However, online banking still dominates the e-banking service in terms of safety. 72% e-banking users consider online banking the safest according to China Financial Certification Authority (CFCA).
China total number of e-banking transactions from commercial banks exceeded 125.54 billion in 2013 according to iResearch data. Nearly half e-Banking users use mobile banking service in China now.
In 2014, personal online banking users, mobile banking users, mobile phone banking users and Wechat banking users accounted for 35.6%, 17.8%, 12.9% and 6.8% respectively. The latest data of CFCA shows in 2015, personal mobile banking service will be booming and users is expected to account for 24%; besides, 40% of them will buy financial products via mobile banks.
The functions that major personal mobile banking users favor are account enquiry, money transfer, mobile phone payment and other non-financial service, such as mobile phone top-up, movie tickets and lottery tickets payment. Related : China Top 10 Banking Service Brands by Online Ad Spend in Sep 2014
Mobile payment is growing more and more popular as mobile internet and e-commerce developed. Alipay, the largest mobile payment platform in the world, and Wechat payment are now most popular among China mobile payment users. See their difference here.
Also read: China Top 4 Online Payment Mobile Apps