Mobile payment is developing rapidly, and no cash society is coming soon.

In the early morning of June 1, Mary Meeker, a Wall Street securities analyst known as the "Queen of the Internet," released the 2017 Internet Trends Report at the Code Conference in the United States. The report pointed out that in 2016, China Mobile's payment transaction volume reached 5 trillion US dollars, and WeChat payment became the main force.

Tencent Mobile’s monthly active account and daily average payment transactions have exceeded 600 million;

China’s mobile payment transaction volume increased from almost 0 in 2012 to 5 trillion US dollars in 2016, and WeChat payment became the main force;

The number of WeChat red envelopes sent on New Year's Eve in 2017 exceeded 14 billion, an increase of about 80% year-on-year.

The following is the relevant content of the report:

The data shows that the number of mobile Internet users in China has exceeded 700 million in 2016, a year-on-year increase of 12%. At the same time, the total online time of China Mobile Internet users in 2016 exceeded 2.5 billion hours, a year-on-year increase of 30%, and the growth rate far exceeded the number of Internet users.

Mobile payment is growing rapidly and market share continues to grow

WeChat Paying advocated the concept of “no cash”, and launched “Cash-free Day” for two consecutive years in 2015 and 2016, in conjunction with incentives and other activities, so that “no cash, no need to wait” is fast, low-carbon, Fashionable and intelligent payment methods have become the attitudes and lifestyles pursued by many people in China.

At present, WeChat payment has covered millions of stores in more than 30 industries, making it the most popular mobile payment tool.

It should be pointed out that the figure shows that the monthly active users of WeChat payment are more than 600 million. Actually, the monthly active accounts of Tencent Mobile Payment and the average daily payment transactions are more than 600 million.

In addition, according to Tencent's 2017 first quarter results report, WeChat and WeChat combined monthly active users reached 938 million (monthly active user), an increase of 23%.

Big data shows that in the second-tier cities and below, about 50% of users choose cash as a common payment method. Even in first-tier cities, more than 30% of users can develop. This means there is still a lot of room for cashless.

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