Mobile payments up 274.7 percent in Q2

Payments through mobile devices in China grew by triple digits in the second quarter as the market for online transactions continued its robust growth, according to a central bank report issued on Tuesday.

There were 371 million mobile transactions in the second quarter nationwide, up 274.7 percent from a year ago. Transaction volume surged 363.9 percent compared with the same quarter last year and reached 2.07 trillion yuan ($338 billion). This marks the fastest period of growth ever in the country's online payment industry.

This year, sales reached 251.02 trillion yuan and the number of transactions increased to 6.23 billion.