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Breaking through the Development Bottleneck: Welcoming a New Era in Mobile Payment

Breaking through the Development Bottleneck: Welc...

KPMG Industry Updates - Issue 3, June 2012  

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KPMG Industry Updates

Although it has a huge market potential, mobile payment has not been widely adopted as a major payment method in China. The main reasons include lack of cooperation among participants, lack of a unified standard, lack of incentives for retail businesses to invest in the service, and poor user experience. To achieve rapid growth in mobile payment service, regulators and industry participants need to jointly work to  enlarge service scope, simplify process, and improve security.

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