Mobile payments are becoming increasingly popular in China. According to a report published on July 29, online payment transactions handled by Chinese mobile payment service providers will exceed 9 trillion yuan ($1.45 trillion) in 2015.

In 2012, the country's mobile banking sector handled 800 billion yuan ($130 billion) in online transactions, an increase of 265 percent from a year earlier, according to the Internet Society of China (ISC).

The country's online payment market is maturing with the accelerated growth of Internet finance, said Shi Xiansheng, Deputy Secretary General of the ISC.

Online payment transactions handled by Chinese payment service providers totaled 830 trillion yuan ($135 trillion) in 2012, according to data from the Payment & Clearing Association of China.