China's card payment giant UnionPay and online payment-clearing house NetsUnion Clearing Corporation processed nearly 28.94 billion transactions during the five-day May Day holiday, a year-on-year growth of 23.45 percent, according to central bank data released on Wednesday.

During the holiday season running from May 1 to 5, the two non-cash payment platforms combined a total value of 7.85 trillion yuan (1.14 trillion U.S. dollars) in transactions, which grew 2.74 percent over the same period of last year.

Payment transactions and value from overseas visitors during the holiday significantly increased over the corresponding period of last year, up 45.15 percent and 36.96 percent, respectively.

The growth in payments by individuals from overseas aligned with a big increase in visa-free arrivals. Official data showed that trips by foreign nationals to and from China rose to 1.26 million during the holiday, a 12.5 percent increase over a year earlier. Among those entering China, 436,000 came visa-free, up 14.7 percent year on year.