Chinese mobile payment industry rose to a whopping $1.59 trillion in 2013

There’s been a lot of talk about how mobile payments are on the rise in China and now statistics from the People’s Bank of China have shed some light on how huge the industry is. In 2013, the central bank handled a total of 16.74 million mobile payment transactions worth a whopping $1.6 trillion, according to the latest statistics. In an indication of the skyrocketing popularity of mobile payments in China, the number of transactions soared 213 percent year-on-year while the transaction value leaped by 317 percent.