Wallets made up the majority of POS transaction value in China, caused by the popularity of QR codes within the country. The share of cash, on the other hand, declined to roughly 10 percent of all money spent in-store. The use of super apps like WeChat introduced consumers in China sooner to QR codes than people elsewhere in the world.
Market share of cash, credit cards, and other payment methods at point of sale (POS) in China from 2017 to 2023, with a forecast for 2027
* The source changed its categories in 2021, see the "Details" tab for more information.
Supplementary notes
In 2022, the source stated it made two changes to the categories used in previous years. These include a combination of "credit cards" with "charge/deferred debit cards" and the split of BNPL from "POS financing" (which itself was added as a new category in 2020). The latter change was made to atone for the "growing importance of BNPL".
The figures have been taken from several publications. No figures were available for 2018 as the source did not release any reports that year.
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Worldpay. (March 21, 2024). Market share of cash, credit cards, and other payment methods at point of sale (POS) in China from 2017 to 2023, with a forecast for 2027 [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1296674/preferred-payment-methods-china/
Worldpay. "Market share of cash, credit cards, and other payment methods at point of sale (POS) in China from 2017 to 2023, with a forecast for 2027." Chart. March 21, 2024. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1296674/preferred-payment-methods-china/
Worldpay. (2024). Market share of cash, credit cards, and other payment methods at point of sale (POS) in China from 2017 to 2023, with a forecast for 2027. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1296674/preferred-payment-methods-china/
Worldpay. "Market Share of Cash, Credit Cards, and Other Payment Methods at Point of Sale (Pos) in China from 2017 to 2023, with a Forecast for 2027." Statista, Statista Inc., 21 Mar 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1296674/preferred-payment-methods-china/
Worldpay, Market share of cash, credit cards, and other payment methods at point of sale (POS) in China from 2017 to 2023, with a forecast for 2027 Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1296674/preferred-payment-methods-china/ (last visited November 10, 2024)
Market share of cash, credit cards, and other payment methods at point of sale (POS) in China from 2017 to 2023, with a forecast for 2027 [Graph], Worldpay, March 21, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1296674/preferred-payment-methods-china/
