UnionPay transaction value reaches 2.72 trillion yuan during National Day holiday

Beijing, October 9th (Reporter Ge Mengchao) China UnionPay’s latest data shows that during the National Day holiday (October 1-7), UnionPay network transactions amounted to 2.72 trillion yuan, and the number of transactions was 4.863 billion per day. The average number of transactions increased by more than 30% over the National Day holiday last year.

Behind the 2.72 trillion yuan is the continuous release of consumption vitality in various regions.

In the past National Day holiday, the Tianhe Road business district in Guangzhou was full of tourists. “Intestinal vermicelli, barbecued pork, Tingzi porridge… When I come to Guangzhou, I want to take my family to try the food!” said Ms. Kong, a tourist from Liaoning. The National Day holiday coincides with the Guangzhou International Shopping Festival in 2021. Many citizens and tourists come to check in.

According to UnionPay data, during the National Day holiday, the average daily transaction value of shopping, catering, and ticket sales in scenic spots increased by 31%, 28%, and 24% respectively compared with the National Day holiday last year; Hainan, Gansu, Tibet and other places had the largest increase in transaction value, becoming a hot spot for travel area. “Judging from UnionPay data, consumption during the National Day holiday is full of vitality, and peripheral consumption and experiential consumption are favored by Techconsumers.” said Hu Wei, a data analyst at China UnionPay.

Behind the 2.72 trillion yuan is the increasing demand for personalized consumption.

 “I drove with a few friends to experience outdoor camping.” Mr. Liu, who lives in Shanghai’s Pudong New Area, said that he went to Decathlon stores to buy waterproof tents and camping mattresses, which cost nearly 4,000 yuan in total.

Driving and outdoor camping are the embodiment of consumers’ pursuit of personalized and quality consumption. According to UnionPay data, during the National Day holiday, the car rental business is heating up particularly, and the average daily consumption of car rental scenes increased by 36% year-on-year compared with the same period last year.

Behind the 2.72 trillion yuan, mobile payments are increasingly coming into life.

In Nanjing, Jiangsu, the cloud QuickPass app issued a total of more than 500,000 consumer coupons to citizens; in Weifang, Shandong, UnionPay and the Taihua business district built a cloud QuickPass demonstration street…UnionPay data shows that during the National Day holiday, purchase through the cloud QuickPass app The amount of cloud shadow tickets has more than tripled.

According to Unshared news :   The data from the Central Bank, in the second quarter of this year, banks across the country processed 67.392 billion electronic payment transactions, with an amount of 745.74 trillion yuan. According to industry insiders, the continuous growth of the scale of mobile payment business has strongly promoted consumption and expansion of domestic demand.

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