Chinese third party mobile payment up 43.2 percent

(MENAFN) China Securities Journal reported that the total trading volume of the third party payment business in the country increased 43.2 percent compared to the same period of 2013, reaching USD2.9 trillion, Xinhua reported. According to a report by the Institute of Finance and Banking under Chinese Academy and Social Sciences, China's third party mobile payment market grew strongly as deals exceeded USD194.6 million, increasing 707 percent compared to the same period of last year. "Third-party systems can only be evaluated through risk measurement, rather than qualitative analysis based on subjective perception," the Chinese Academy of Social Sciences said.