February 13, 2026 12:53 PM GMT China Financials | Asia Pacific 4Q25 data shows still decent consumption payment growth despite some moderation Key Takeaways Still decent payment growth in NetsUnion and UnionPay despite some moderation in 4Q25: NetsUnion and UnionPay payment growth – a good proxy for consumption payment – has accelerated from low single digits or negative growth in 2024. In 4Q25, both NetsUnion and UnionPay payment growth moderated to 9.3% yoy and 8.7% yoy, down from 17.9% yoy and 15.4% yoy ...