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  • Over 205 million Chinese people use mobile payment services
  • Over 205 million Chinese people use mobile payment services
    Lars Plougmann, Creative Commons (2012) ©
CASE STUDY

Rong360: a banking service China can trust

2014 has seen China's distrust of corporations, banks and the government grow more than ever before. By positioning itself as a cheaper and more trustworthy alternative to intermediary agents, can finance service Rong360 attract customers that don't understand online banking?

Location China

Scope
2014 has seen a change in China’s internet habits. Online banking in China is still a relatively new phenomenon, but the first half of the year saw the number of Chinese people migrating to online services increase by over 50%. Mobile users also rose 527 million in the same time frame – overtaking, for the first time, the number of people who access the internet via a personal computer or laptop. And as a result, the number of people using mobile payment services jumped 63.4% to 205 million. [1]

But while internet banking booms in ...

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