Biggest international and domestic payment card schemes in China 2016-2023
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UnionPay overwhelmingly leads the market for card payments in China. Such a dominance of an in-market local card scheme is not found in other countries in the world, where often either Visa or Mastercard tend to be the largest provider. Another important trait of Chinese payments is the important role of mobile wallets in in-store payments, with a market share in 2023 that is higher than that of both credit and debit cards combined.
