Alipay released the 2016 national bill, 70% of payments were made on mobile devices

On the afternoon of January 4, Alipay , a subsidiary of Ant Financial, released the 2016 Chinese national bill.

According to data released by Alipay, there are now 450 million real-name users. In the past year, 71% of payments took place on mobile devices. China’s “millennial generation” of those born in the 1980s and 1990s have become the mainstream force in China’s economy. For example, the average payment amount per person born in the 1980s has exceeded 120,000 yuan, and the proportion of those born in the 1990s using mobile payments has reached 91%.

70% of payments happen on mobile devices

Alipay’s 2016 national bill shows that mobile payments now account for 71% of the total, compared to 65% last year.

In terms of the total annual payment amount in provincial regions, Guangdong ranks first, accounting for 16% of the country, followed by Zhejiang and Jiangsu. In terms of per capita payment amount, Shanghai's per capita payment reached 148,000 yuan, nearly 1.5 times that of last year. It is followed by Zhejiang, Beijing, Fujian and Jiangsu. The per capita payment amount of these five coastal provinces and municipalities has entered the "100,000" era. Last year, only Shanghai reached this level.

In terms of mobile payment penetration rate, inland Tibet ranks first with 90% mobile payment share, followed by Qinghai and Gansu, far exceeding the coastal provinces. In fact, Alipay's annual bill data shows that in 2016, the average Tibetan recharged their mobile phones 16.7 times per person, much higher than other regions.

Mobile payment is not only reflected in consumption, but also becomes a means of emotional connection, such as red envelopes between relatives and friends. In 2016, in the red envelope giving ranking, people from Shantou, Guangdong were the most generous, followed by people from Zhangzhou, Fujian, who won the championship in 2015, and then Putian, Fujian. The per capita red envelope amount in the top three cities all exceeded 5,000 yuan.

No longer just a funding account

With the diversification of behavioral data, more and more users have begun to accumulate credit on the Internet, and the emergence of mobile Internet + consumer credit has allowed users to personally feel the value of credit. In 2016, the number of payments using Huabei exceeded 3.2 billion, an increase of 344% over the previous year. At present, Jiebei has served more than 12 million users and has made cumulative loans exceeding 300 billion yuan.

While expanding the scale of consumption, users are also paying more and more attention to the world around them. In August this year, Alipay opened a "carbon account" within the App. Through the "Ant Forest", users can see how much carbon emissions have been reduced through their own behavior. By continuously reducing carbon emissions to a certain value, a charity partner cooperating with Alipay will plant a real sapling. So far, "Ant Forest" generates 1,000 tons of low-carbon emissions reductions every day, and cooperating charitable organizations have planted 520,000 real trees. In this green finance low-carbon and environmentally friendly ranking, Anhui people planted the most trees, reaching 73,000 trees, followed by Zhejiang Province and Jiangxi Province.

While paying attention to the world, Chinese people are also increasingly beginning to move toward the world. According to the cross-border consumption data collected by Alipay, the top ten shopping destinations for Chinese people are: South Korea, Hong Kong, Thailand, Macau, Taiwan, Japan, Australia, Singapore, New Zealand and Germany. In 2016, the highest single transaction amount for Alipay’s cross-border QR code payment was 268,645 yuan, and the user was from Beijing.

While pursuing a better quality of life, Chinese people are also increasingly pursuing efficiency. The Alipay national bill shows that in 2016, more than 1 billion people used the "urban public services at their fingertips", an increase of 218% over the previous year. These services come from 357 cities across the country, accounting for 54% of the total number of cities in China. The services include paying water, electricity, and gas bills, paying traffic violation fines, purchasing subway and bus tickets by mobile phone, online renewal of Hong Kong and Macau Pass, making appointments, registering for marriages and divorces, registering for organ donations, and online booking for drone spraying of pesticides.

The average payment of people born in the 1980s exceeded 120,000 yuan

"Millennials" mainly refers to the generation born in the 1980s and 1990s. There are approximately more than 400 million "Millennials" in China, which is five times the number of the same generation in the United States. According to Goldman Sachs' forecast, as the average annual income of China's millennials increases from US$5,900 in 2014 to US$13,000 in 2024, they will dominate the consumption landscape in the next 10 years.

From this national bill, we can see that in 2016, the average online payment amount per person born in the 1980s nationwide exceeded 120,000 yuan, while mobile payments by those born in the 1990s accounted for nearly 92%, which can indeed confirm the above conclusion.

The latest "New Supply - Ant Online Consumption Index" shows that in the past six years, China's online consumption for food, drink, entertainment and enjoyment has expanded 20 times. Compared with the United States in the 1920s or Japan in the 1970s, China's influential consumers today are very different from those 40 years ago or even nearly 100 years ago. To a large extent, they come not from the middle class but from the "millennial generation."

In this Alipay bill, there are some other details related to "Millennials":

1. They prefer independent travel rather than group travel, which has become the mainstream way for young Chinese people to travel abroad. In 2016, the number of overseas portable wifi rentals increased by 171%, and self-driving car rentals increased by 110%;

2. The number of users born after 1990 who dine in restaurants accounts for as high as 46%, and the number of users who order takeout is as high as 61%. Including those born in the 1980s, the proportion reaches 85%. In the eyes of young people, why bother cooking when you have takeout?

3. Today's "millennials" are very interested in and use credit products. Among users under 35 years old, 83% of the total number of users use credit products.

4. In 2016, the consumption of health care products by users born in the 1980s decreased by 13%, but outdoor sports increased by 9% and the number of beauty care purchases increased by 16%. The growth rate of those born in the 1990s was even more obvious: outdoor sports grew by 34%, and beauty products grew by 63%;

5. Millennials spend 84% of the total ticket purchases for plays, shows, and movies nationwide.

6. They are used to spending ahead of time, from 1 cent coupons to a few yuan subway tickets to tens of thousands of yuan digital products... Among the 100 million Huabei users, 86% are millennials. One out of every four people born in the 1990s in China uses Huabei.

7. They are not traditional high-net-worth individuals and prefer financial management methods with ultra-low thresholds. Ant Jubao’s financial management platform has close to 100 million users, of which 81% are millennials.

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The author of this article is @|Sina Technology. It is compiled and published by (Qinggua Media). Please indicate the author information and source when reprinting!