Online payment transactions handled by Chinese mobile payment service providers will exceed 9 trillion yuan ($1.45 trillion) in 2015, according to an industry report published on Monday(September 29th ).

In 2012, the country’s mobile banking sector handled 800 billion yuan in online payment transactions, an increase of 265.3 percent from a year earlier, according to a report published by the Internet Society of China (ISC).

Last year, the country’s online payments rose 66 percent to nearly 3.7 trillion yuan, with fast growth in payments on premiums, according to the report.

Online premiums payments grew 123.8 percent year on year to 3.66 billion yuan in 2012, the report said.

Source: iResearch