CBA Report: The Total Amount Of Online Banking Transactions In 2020 Will Reach 1818.19 Trillion Yuan

On March 15, the China Banking Association officially released the 2020 China banking service report. The report points out that in 2020, financial institutions in the banking industry will continue to increase investment in financial science and technology, take online banking and mobile banking as the main positions, further build online channels with complete functions, complete scenes and mobile intelligence, and continuously improve business processing efficiency.

According to incomplete statistics, in 2020, there will be 370.872 billion off the counter transactions of banking financial institutions, with a year-on-year increase of 14.59%; the total amount of off the counter transactions will reach 2308.36 trillion yuan, with a year-on-year growth of 12.18%; and the average diversion rate of electronic channels in the industry will be 90.88%.

Among them, mobile banking transactions reached 191.946 billion, with a year-on-year increase of 58.04%, the total amount of transactions reached 439.24 trillion yuan, with a year-on-year growth of 30.87%; online banking transactions reached 155.030 billion, with a total amount of 1818.19 trillion yuan, an increase of 9.68% year-on-year.

It is worth mentioning that in November last year, the central bank disclosed the overall operation of the payment system in the third quarter of 2020. Statistics show that the growth rate of non cash payment business volume increased slightly, while the business volume of payment system maintained a growth trend.

In the third quarter, banks across the country handled 100.057 billion non cash payment transactions, with an amount of 1043.22 trillion yuan, up 11.47% and 12.66% respectively over the same period of last year.

In the third quarter, the volume of mobile payment business maintained a growth trend, with 64.977 billion electronic payment transactions handled by banks, with a total amount of 696.44 trillion yuan. Among them, online payment business was 24.244 billion, with an amount of 551.60 trillion yuan, with a year-on-year growth of 12.56% and 11.29%; mobile payment business was 34.495 billion, with an amount of 116.74 trillion yuan, with a year-on-year increase of 26.48% and 35.57%.