China sees robust online payments during Dragon Boat Festival holiday

Chinese online payment clearinghouse NetsUnion and card payment giant China UnionPay reported robust online payments during the Dragon Boat Festival holiday, the People's Bank of China said on Tuesday.

During the three-day holiday that concluded on Monday, online payments via the two platforms hit 4.8 trillion yuan (about 667.88 billion U.S. dollars), up 3.4 percent year on year, according to the central bank.

The two platforms handled 14.05 billion transactions during the holiday period, representing a year-on-year rise of 13 percent, the central bank added.

Cross-border payments made by inbound travelers through the two platforms showed remarkable growth, with transaction volume jumping 118.6 percent and total value increasing by 58.8 percent year on year during the holiday period.