Pay everything by mobile

Consultancy firm Celent forecasts a rapid take-off in mobile payments. Conditions required for mobile payments are close cooperation between financial institutions and mobile operators, low bank card penetration and high mobile phone usage are all present in China.
The country has 740 million mobile phone users — the largest number of any country and double the number of its internet users. Remote mobile payment penetration (where payments are made via mobile phones and bills are settled by banks) still only accounts for 10% of the market (as of 2009), but according to the report the number of users is expected to jump to a 410 million by 2013.
FinanceAsia reports the penetration rate for contactless mobile payments (where payments are made through SIM cards and where bills are settled by mobile operators) accounted for only 0.5% of the market in 2009. But again, the number of contact-less users is expected to top 400 million by 2015.