Today, from China, we have a new stat that's almost four-and-a-half times better. China's Union Mobile Pay is reporting an M-Commerce sales volume equivalent to $4.4 billion U.S. (30 billion yuan, which is about 3.1 billion euros), according to a report Tuesday (Aug. 25) from PaymentsSource. That service also reported 140 million registered users, as of the end of last year. There are always caveats, and it should be said that China is a much more mobile-payment friendly country, that the infrastructure has fewer obstacles (with government blessing) and that mobile is sometimes the only viable payment method accepted by some Chinese merchants. But $4.4 billion? That's hard to dismiss with even a billion caveats.
As retailers plunge ahead with Mobile-Commerce plans, they are continually looking for market evidence that there's gold in them thar hills. Anything to appease corporate's comically relentless search for ROI proof, whether it's realistic or not. Late last month brought Amazon's boast of $1 billion in M-Commerce revenue. That was great for starters, even though a lot of the sales were for e-books and Kindles and other especially M-Commerce-friendly purchases. Still, a billion dollars is a billion dollars.