Tuesday, 17 November 2020 03:12

China Nets Union Clearing Corporation Processed 93,500 Transactions per Second on Singles’ Day

According to data released by China’s Nets Union Clearing Corporation (网联清算平台), the Nets Union platform processed 20.4 billion cross-institutional online payment transactions on November 11th, China’s Singles’ Day. Total transactions were valued at 14.1 trillion yuan, 42.6% higher from the year before. Transactions processed by the Nets Union platform exceeded 93,500 transactions per second at one point in the day, a historical record. Online payment transactions during Singles’ Day have the characteristics of long guarantee time, multiple peak times, multiple participating institutions and large transaction scale.

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