China Internet Watch

China’s 3rd-party payment market 2021-2025e: mobile vs. internet

Tue, 07 Sep 2021 03:00:03 +0000

The third-party mobile payment transactions in China increased to 74.0 trillion yuan in the first quarter of 2021, a year-on-year increase of 39.1%, according to data from iResearch.

iReserarch forecasts China's third-party mobile payment market would reach 74.2 trillion yuan in the second quarter of 2021.

China's third-party mobile payment is mainly composed of three major sectors: personal applications, mobile finance, and mobile consumption. It is expected that in the second quarter of 2021, the consumer sector will see a certain percentage increase driven by 618 and other promotional activities, while the personal application sector will decline accordingly.

In the first quarter of 2021, QR code payment transactions was approximately RMB 10.6 trillion, which was slightly lower than the previous quarter due to the instability of commercial transactions during the Spring Festival.

iResearch believes that QR code payment transactions in the second quarter of 2021 i...

Already subscribed? Sign in.

Don't Miss Out.

Invest with as little as one bottle of water per week.

Join other top analysts and business executives and navigate the unique market with China Internet Watch.

View subscription options »

Cancel at any time

]]>

China third-party mobile payment market overview in 2019

Wed, 08 Apr 2020 02:56:00 +0000

In the fourth quarter of 2019, China's third-party mobile payment transactions reached 59.8 trillion yuan (US$8.56 trillion), with a year-on-year growth rate of 13.4%.

The proportion of mobile consumption in China's third-party mobile payment increased to 24.5% in Q4 2019 from22.2% in Q3 2019.

Alipay and Tenpay continued to dominate the third-party mobile payment in China in Q4 2019 with 55.1% and 38.9% market share respectively.

The offline QR-code payment increased by 11.6% QoQ to 9.6 trillion yuan in Q4 2019, primarily driven by annual Double 11 and Double 12 promotions.

China's mobile NFC payment continued its growth of 7.4% QoQ or 51% YoY to 9.86 billion yuan. JD Pay was ranked first in this sector.

The third-party internet payment market in China was led by Alipay (35.0%), UMS (18.2%), and Tenpay (13.5%) in 2019.

Internet finance, individual, and online consumptions account for 43.7%, 22.8%, and 20.5% share respectively in the third-party...

Already subscribed? Sign in.

Don't Miss Out.

Invest with as little as one bottle of water per week.

Join other top analysts and business executives and navigate the unique market with China Internet Watch.

View subscription options »

Cancel at any time

]]>

China’s top mobile payment apps compared: Alipay, Tenpay, Unionpay

Tue, 23 Jul 2019 03:00:25 +0000

The competition pattern of "duopoly" is still solid, while the competitiveness of UnionPay, a state-owned player, is improving.

The penetration rates of Tenpay, inclusive of WeChat Pay and Mobile QQ Wallet, and Alipay are 89.2% and 69.5% respectively, with the number of estimated users reaching 940 million and 740 million respectively, according to an Ipsos survey.

tenpay-vs-alipay-2019

Compared with the results of the previous survey, Tenpay's user size has slightly increased and Alipay's user size has remained stable.

The two giants both own tremendous users, their mutual penetration rate has reached 94.3%, which is very close to the overall user penetration rate of 95.1%, and both are rigid in-demand tools.

On the other hand, the penetration rate of UnionPay’s Cloud Flash Payment reached 20.3%, an increase from 18.0% in the previous survey, with an estimated user size of about 220 mil...

Already subscribed? Sign in.

Don't Miss Out.

Invest with as little as one bottle of water per week.

Join other top analysts and business executives and navigate the unique market with China Internet Watch.

View subscription options »

Cancel at any time

]]>

China non-financial institutes handled US$8 trillion transactions in Q3 2018

Thu, 10 Jan 2019 08:00:15 +0000

The third-party comprehensive payment market picked up in Q3 after its sluggish start this year, which reached 54.94 trillion yuan (US$8.01T) with a growth of 7.99% quarter-on-quarter. Alipay, Tencent Finance, and UnionPay combined accounted for 87.5% of the total.

China's non-financial institutes that provide payment services processed around 54.94 trillion yuan-valued transactions in Q3 2018, an increase of 7.99% quarter-on-quarter. Such growth was primarily driven by mobile payment since both the top players Alipay and Tencent Finance have launched its financial platforms.

Alipay took the first spot with a share of 45.64%, followed by Tencent Finance (32.11%) and UnionPay (9.75%). Find out online payment overview here or mobile payment usage details here.

Related Dossier: Payment...

Already subscribed? Sign in.

Don't Miss Out.

Invest with as little as one bottle of water per week.

Join other top analysts and business executives and navigate the unique market with China Internet Watch.

View subscription options »

Cancel at any time

]]>

China online payment market down by 2.58% in Q3 2018

Thu, 10 Jan 2019 03:00:54 +0000

The third-party internet payment market in China showed no signs of picking up after its slump in Q2, which had been down from 6.96 trillion yuan (US$1.02T) in Q1 to just 6.54 trillion yuan (US$0.95T) in Q3. Alipay, UnionPay, and Tencent Finance combined accounted for 56% market share.

China's third-party internet payment market slid by 2.58% quarter-on-quarter to just 6.54 trillion yuan in Q3 2018, which was as high as 6.96 trillion yuan in Q1.

Alipay took the leading position with a share of 23.5%, followed closely by UnionPay (22.92%). Tencent Finance ranked third with a share of 9.57%. The top three players combined represented 55.99% of this market.

China mobile payment usage in Q3 2018...

Already subscribed? Sign in.

Don't Miss Out.

Invest with as little as one bottle of water per week.

Join other top analysts and business executives and navigate the unique market with China Internet Watch.

View subscription options »

Cancel at any time

]]>

China 3rd-party mobile payment hit US$6.4 trillion in Q3 2018, led by Alipay & Tencent Finance

Wed, 09 Jan 2019 12:00:05 +0000

China’s third-party mobile payment grew by 11.52% to 43.8 trillion yuan (US$6.39T) in Q3 2018. Alipay (53.71%) and Tencent Finance (38.82%) combined accounted for 92.53%, leaving a small space for other players.

In Q3 2018, the third-party mobile payment grew to be a roughly 43.8 trillion yuan market in China. It bounced back to double-digit growth (11.52%) quarter-on-quarter after a permanent downturn that was partly influenced by the official crackdown on internet finance risks.

The multiple usage scenarios including e-commerce, food & beverage, air flights, and transportation, etc. help this market keep its growing pace, quick or slow.

Alipay continued to lead this market with a share of 53.71% in terms of transactions values. Great efforts have been made to acquire new users and get old users further engaged mainly by means of red envelope campaigns.

Tencent Finance followed behind with a share of 38.82%, expanding its user base in financial and offline transactions. That was profited from Tencent Finance-backed LiCaiTong that added pension funds to its fund offering and its aggregated customer assets surpassing 500 billion yuan at the end of Q3. Alipay and Tencent Finance combined accounted for 92.53% of this market, leaving a small space for other players.

Click here for detailed China mobile payment usage insights in Q3 2018

]]>

China mobile payment usage in Q3 2018; Tenpay (Tencent) the highest penetration

Wed, 26 Dec 2018 00:00:20 +0000

92% of mobile internet users in China used mobile payment in Q3 2018, a little decline compared with 92.4% in May, according to the report from Ipsos. The penetration rates of Tenpay (WeChat Pay + QQ Wallet) and Alipay were 84.3% and 63.6% respectively. Around 24% of Tenpay users never used Alipay while only 3.5% of Alipay users never used Tenpay. There were 60.1% of users using both Alipay and Tenpay.

The average monthly expenses were 4,069 yuan (around US$590.04) in Q3. 54% of transactions were processed through the third-party payment platforms, among which 41% were dealt with via mobile payment.

From the perspective of penetration, mobile payment has been every facet of users’ daily life including personal transactions (94%), online transactions (81%), offline transactions (85%), and financial transactions (21%). Driven by Alipay and WeChat’s promotions, more and more chose to use mobile payment in offline payment scenarios. Featured with a small amount in value and h...

Already subscribed? Sign in.

Don't Miss Out.

Invest with as little as one bottle of water per week.

Join other top analysts and business executives and navigate the unique market with China Internet Watch.

View subscription options »

Cancel at any time

]]>

China third-party mobile payment report H1 2018; Tenpay leads, followed by Alipay

Wed, 24 Oct 2018 03:00:33 +0000

92.4% of mobile internet users in China used mobile payment. The penetration rates of Tenpay (WeChat Pay + QQ Wallet) and Alipay are 85.4% and 68.7% respectively. In personal transactions, mobile payment was most frequently used in phone top-up (69%), money transfer (63%), and red envelope sending (60%). Check out more usage scenarios below.

The penetration rate of mobile payment among mobile internet users reached as high as 92.4%, according to the report from Ipsos.

48% of payments were processed through the third-party payment platforms, among which 35% were done by mobile payment.

Mobile payment plays an important role all aspect of China internet users' daily life. Take personal transactions as an example, most users would use the mobile payment to top up the phone (69%), transfer money (63%), and send red envelopes (60%). These three have a high frequency of use and a small amount in common.

Online shopping, entertainment, travel-related products b...

Already subscribed? Sign in.

Don't Miss Out.

Invest with as little as one bottle of water per week.

Join other top analysts and business executives and navigate the unique market with China Internet Watch.

View subscription options »

Cancel at any time

]]>

China third-party online payment overview 2011-2019

Mon, 03 Apr 2017 02:00:22 +0000

The total transactions of third-party online payment in China totaled 19.2 trillion yuan (US$2.79 trillion) in 2016 with an increase of 62.2%; the growth is slowing down but will continue to grow to 26.9 trillion yuan (US$3.91 trillion) in 2019.

This article is an excerpt from EBook – China Internet Insights 2017

Total transactions of mobile payment in China grew by over twice to 38.5 trillion yuan (US$5.59 trillion) in 2016. And, it will reach 89.8 trillion yuan (US$13.04 trillion) in 2019.

Alipay and Tenpay together accounted for close to 90% of mobile payment users.

Also read: Digital trend of China fund, insurance, p2p loan market 2012-2020e

]]>

China online payment overview for Q2 2016

Tue, 18 Oct 2016 00:00:35 +0000

China Third-party online payment market had a total transaction value of RMB 4.65 trillion in Q2 2016, with an increase of 6.5% QoQ according to Analysis.

Alipay continued to dominate China’s third-party online payment market by total transaction value with 43.39% market share, followed by Tenpay (16.95%) and UnionPay Merchant Services (15.44%).

The total transactions of China’s third-party mobile payment market exceeded RMB 7.5 trillion in Q2 2016, an increase of 25.68% QoQ. The total transactions in the first half of 2016 reached RMB 13.48 trillion.

Alipay led China’s third-party mobile payment market with 55.4% market share, followed by Tenpay (32.1%) and Lakala (4.4%).

China users in 21 to 29 age group from the first-tier and the second-tier cities are the main mobile payment users, accounting for 43%.

]]>

China third-party internet payment exceeded 4 trillion yuan in Q1 2016

Wed, 24 Aug 2016 03:00:55 +0000

China’s third-party internet payment transactions reached 4,058.43 billion yuan (USD 609.93 billion) in Q1 2016 with a year-on-year growth rate of 67% according to iResearch.

China’s third-party internet payment transactions on online shopping have been declining since Q1 2015 despite a slight increase in Q2, falling to 14.2% in Q1 2016. The share of the fund related transactions have increased from 18.9% in Q1 2015 to 21.9% in Q1 2016.

In terms of market share of China’s third-party internet payment providers, Alipay has 43.3% market share, followed by Tenpay (20.1%), Yinshangpay (11.1%), and 99Bill (7.0%).

Besides, Chinese internet users also make payment through WeChat banking. In another survey by iResearch, China WeChat banking users prefer to use WeChat banking on ICBC (37.9%), China Construction Bank (34%), and China Commercial Bank (28.1%). The top several WeChat banking that users use more often is ICBC (18.4%), China Construction Bank (15.9%), and Commercial Bank of China (15.2%).

]]>

China E-Payment Insights 2015

Wed, 12 Aug 2015 05:00:39 +0000

iResearch released a report on Chinese electronic payment users in 2015, which shows data of China e-payment and its users.

In 2014, male users of China e-payment account for up to 57.3%, while female users only account for 42.7%. The male ratio of online banking, mobile banking and WeChat banking account for more than half of the overall male proportion of electronic payments. While in the third-party online payment, third-party mobile payment, POS machine payments and prepaid cards payment, the ratio of female users is relatively high.

The ratios of China e-payment users and overall internet users are basically the same by ages. Users from 26 to 35 years old are the biggest age group, accounting for 50%. The penetration rate of online banking users increases with higher age groups; users above 36 years old are the biggest age group. At present, the penetration rate of mobile payment is higher, while in the future the situation may change.

The ratios of China e-payment users and overall internet users are basically the same by education background. While the ratio of penetration tends to be higher among users with higher education background.

According to iResearch, male users of China’s electronic payment prefer to use electronic banking channels (online banking, mobile banking and WeChat banking), while Chinese women are more likely to use tools offered by third-party payments. In 2014, users of third-party internet payment account for over 60% of the overall payment users, then third-party mobile payment and online banking follow, with each accounting for about 50%.

Male users prefer electronic payment instruments offered by banks such as online banking (5.4% higher than female), mobile banking (relatively 2.0% higher than the female). While female users relatively prefer payment channels offered by third-party payments, such as third party internet payments (relatively 1.6% higher than the male), third-party mobile payments (2.6% higher than male).

iResearch believes that the reason the third-party payment and online banking users are more than POS machine payment users is that, electronic payment channels have less connections with the development level of local areas, the popularity of smart clients, and the internet also makes the payment of internet users migrate with electronic channels.

Users use a third-party payment gateways once or twice a week, and spend about 500 yuan per month. The average consumption is about RMB 100.

Several factors affect users acceptance of online payment, which are the brand of the company, security level, convenience level, price, and function. High security is the key factor users consider when they make payments online.

In 2014, China online banking users prefer to use online banking on ICBC, and over 50% of users have used China Construction Bank, Agricultural Bank of China and other five banks. The top several online banking users use more often is ICBC (25.6%), China Construction Bank (17.5%) and Agricultural Bank of China (11.4%).

Mobile payment products are more diversified compared with online banking. China mobile banking users prefer to use online banking on ICBC (41.0%), and China Construction Bank (38.9%). The top several online banking that users use more often are ICBC (18.8%), China Construction Bank (17.9%) and Commercial Bank of China (12.2%).

Apart from these common payment means, internet users also make payment through WeChat banking. China WeChat banking users prefer to use WeChat banking on ICBC (37.9%), China Construction Bank (34%) and China Commercial Bank (28.1%). The top several WeChat banking that users use more often is ICBC (18.4%), China Construction Bank (15.9%) and Commercial Bank of China (15.2%).

In 2014, China third party internet payment users use Alipay most frequently, with a usage of 94%, followed by China UnionPay (CUP) online (36.6%), Tenpay (36.3%) and 99Bill (33.1%). 87.6% of the users choose Alipay as the most preferred third-party internet payment product; and CUP online ranks second with only 2.9%.

In 2014, people use Alipay more often than WeChat payment. Most WeChat payment users are new to it, and many of them are used to pay by Aipay. While Tencent still has a chance to have a promising future on the mobile payment market with its huge QQ and WeChat user base.

Also read: China Advertising Insights 2015

]]>

China Mobile Payment Market Insights in 2014

Wed, 25 Mar 2015 03:00:37 +0000

In 2014, total transaction value of China mobile payment market exceeded RMB599.247 billion(US$97.628 billion) with an increase of 391.3% from last year according to data of iResearch.

On 12 February 2015, People’s Bank of China announced China’s Payment Market Report 2014. The report showed in 2014, the total transaction volume and value of non-cash business were 62.752 billion and RMB1,817.38 trillion (US$294.70 trillion) with YoY growth rate of 25.11% and 13.05% respectively.

Among all the transactions, e-payment business is still keeping rapid growth as well as mobile payment. In 2014, total transaction volume of e-payment was 33.333 billion, worth RMB1,404.65 trillion(US$227.78 trillion) in China. Besides, the transaction volume and value of e-payment increased by 29.28% and 30.65% from the same period of prior year.

The transaction volume and value of mobile payment were 4.524 billion and RMB22.59 trillion (US$3.66 trillion) with YoY growth rate of 170.25% and 134.30% respectively in 2014 in China.

In 2014, total transaction volume of online payment from payment agencies was 37.422 billion, worth RMB24.72 trillion (US$4.00 trillion) in China.

In 2013, the growth rate of mobile payment market was 707% from 2012; and in 2015, China mobile payment market growth will slow down. The transaction value is expected to exceed RMB18 trillion in 2018.

Alipay and Tenpay accounted for 93.4% market share in China mobile payment market in 2014. In mobile payment times in China, provider who owns the most users covering various scenarios control the market. Supported by online shopping market, Alipay is growing more and more strong. See more about Alipay’s growth: Over 42.3 Bln Transactions on Alipay in 10 Years

Benefiting from WeChat Pay, Tenpay got its prosperity in 2014. Alipay, WeChat and Weibo are competing for the market share with Hongbao War, see their performance here.

Mobile shopping’s market share in China mobile payment market increased to 23.4% in Q4 2014.

Tencent’s large number of users provide a solid base for QQ Wallet’s development. Users can use QQ Wallet to top up mobile phone accounts, purchase movie tickets, QQ membership, and pay for mobile games etc. Read more about Tencent Got More Than WeChat Payment to Compete with Alipay on Mobile

Also read: Insights of China Mobile Payment (Wechat, Alipay) Users

]]>

Tencent Got More Than WeChat Payment to Compete with Alipay on Mobile

Thu, 18 Dec 2014 12:30:42 +0000

Tencent QQ’s monthly active users exceeded 829 million and MAUs on smart device exceeded 521 million according to Tencent’s finance report of first half of 2014. Tencent QQ was the first Chinese instant messenger in Guinness World Record for having the most number of simultaneous online users on an instant messaging platform on 3rd July, 2014. Tencent’s large number of users provide a solid base for QQ Wallet’s development.

QQ Wallet was launched by Tencent in the first quarter of 2014 as an extended feature to mobile QQ apps：

Users can use QQ Wallet to top up mobile phone accounts, purchase movie tickets, QQ membership, and pay for mobile games etc.

“QQ Wallet will target its users mainly in tier-3 and tier-4 cities in China. It is also a supplement for WeChat payment which can stimulate much need for mobile payment”, said Zhen Haojian, who is in charge of QQ Wallet’s development in Tencent.

Zhen also mentioned that, QQ wallet is a big move on Tencent’s finance. QQ Wallet payment is based on QQ account while WeChat payment is based on WeChat account; and both connect with Tenpay’s fast payment system.

At the present, the number of QQ Wallet users binding bank cards is 90 million. Compared with Alipay and WeChat payment, it is believed that QQ wallet should be featured with unique functions which are distinct and focusing on payment security.

QQ Wallet has many advantages. For example, users can buy QQ coins, QQ members or other services without being redirected to other webpages or other online payment platforms; users can finish payment on Jingdong (Tencent is Jingdong’s significant shareholder and strategic partner since 10 March 2014) Meilishuo, who cooperates with Tencent QQ; users can enjoy convenience with QQ Wallet in O2O market.

Nowadays, the competition in China online payment market is fierce. Take Tencent V.S. Alipay as an example. In terms of taxi app, mobile QQ and Wechat wallet cooperated with Didi Taxi while Aliapy wallet cooperated with Kuaidi Taxi; In China group buying market, mobile QQ and WeChat Wallet are connected to Dianping.com, China’s Yelp while Alipay is connected to Taobao and so on.

Tencent is good at developing online virtual products and gathered great number of users. QQ Wallet can provide more service for such users. However, offline market is still a big challenge for QQ wallet. We can see Alipay’s off-line strategy worked on Double 12 shopping Day this year.

In Q3 2014, Alipay accounted for 49.2% market share in China online payment market, followed by Tenpay with 20% market share. There was over 42.3 billion transactions on Alipay in 10 Years. However, Tencent still has its chance on mobile payment with its huge QQ and WeChat user base.

Also read: Insights of China Mobile Payment (Wechat, Alipay) Users

]]>

China Top 5 Online Payment Mobile Apps in Sep 2014

Thu, 23 Oct 2014 03:00:45 +0000

Alipay Wallet, Alipay’s mobile app brand renamed from “Alipay” and the largest mobile payment platform in the world, exceeded 62.818 million MAUs in September 2014 in China according to EnfoDesk; Alipay Wallet is the most popular mobile payment app by MAUs, followed by Tenpay, Bestpay, Alipay and Lakala.

In comparison, the top 4 online payment mobile apps in August 2014 in China were Alipay, Bestpay, Tenpay and Lakala by total MAUs.

Among China top 5 online payment mobile apps, Lakala, Tenpay and Alipay Wallet all had different use frequency growth rate , especially Lakala who had 20.61% growth rate while Alipay had a decrease of 36.1% in use frequency growth rate in September 2014. Alipay Wallet, Bestpay and Alipay all had decreased growth in time spent in September 2014.

Till 16 October in China, total number of Alipay Wallet’s active users exceeded 190 million and the daily mobile payment transaction volume exceeded 45 million, accounting for more than 50% of total Alipay transactions.

Also read: INFOGRAPHIC: Brief History of Alipay Yu’E Bao’s Rapid Development in China

]]>

China Top 4 Online Payment Mobile Apps

Fri, 26 Sep 2014 00:45:55 +0000

Alipay’s mobile app exceeded 61.339 million MAUs in August 2014 in China according to EnfoDesk, remaining the most popular mobile payment app, followed by that of Bestpay, Tenpay and Lakala.

In comparison, the top three online payment providers in the first quarter of 2014 were Alipay, Tenpay and Unionpay by total mobile transactions who together represented over 80% of the total market share.

Bestpay is China Telecom‘s mobile payment solution. Bestpay account, once topped up, can be used to make payment on website, by SMS or voice. China Telecom users who use RFID-UIM phone card can use their phone to make payment.

China top 4 online payment mobile apps all had rapid use frequency growth rate , especially Bestpay who had 789.65% growth rate while Lakala had slight decrease in total time spent growth rate in August 2014.

Mobile payment is a big market in China and it’s very competitive. Tencent’s Wechat launched a “card payment” option this month with which users can make fast payment at supported retail chains; this payment is either using remaining fund in Wechat Wallet or linked to the user’s bank ATM card.

Alibaba’s Alipay partnered with Huawei and launched finger payment standard in China, which is first available on Huawei’s smartphone Mate 7. Alipay still dominates China’s mobile payment market in Q2 2014 as it does in online payment market. In addition, more players have entered the market including Baidu; read more here.

Also read: China Online Payment Market Overview for H1 2014

]]>

China Online Payment Market Overview for H1 2014

Thu, 11 Sep 2014 00:00:03 +0000

Alipay still dominates China’s mobile payment market in Q2 2014 as it does in online payment market. In addition, more players have entered the market including Baidu.

In Q2 2014, total transaction value of China online payment exceeded RMB1.84 trillion (US$299.7 billion) with an increase of 64.1% from the same period of 2013 according to data of iResearch.

Alipay ranked top in China mobile payment market in Q2 2014, accounting for 79.9% by total transaction value, followed by Tenpay and Lakala according to iResearch data.

We can see Baifubao, China Mobile, China Telecom and other channels are getting visible in China mobile payment market nowadays. Baifubao, Baidu’s attempt in mobile payment market, is finally on the map even though it just got 0.1% market share.

Compare with China’s Top Online and Mobile Online Payment Providers in Q1 2014

]]>

China’s Third-party Internet Payment Exceeded $302B in Q1 2014

Mon, 28 Jul 2014 02:20:26 +0000

China’s third party internet payment totalled RMB1873.15 billion (USD 302.71 billion) in Q1 2014, with a YoY growth rate of 84% according to iResearch.

With over 300 million users, Alipay remains the market leader in China’s third-party payment market by total transactions, followed by Tenpay and Unionpay; the top 3 has a combined market share of over 80%.

Alipay, Tenpay and Unionpay are also the top 3 in China’s mobile internet payment market according to Analysis International.

]]>

China’s Top Online & Mobile Online Payment Providers in Q1 2014

Tue, 27 May 2014 02:17:39 +0000

Total online payment market in the first quarter of 2014 reached 1.96 trillion yuan, a growth rate of 5.1% QoQ. The top three providers, Alipay, Tenpay and Unionpay represent over 80% of the total.

Alipay, with its payment mobile apps Alipay Wallet, is dominating mobile payment market with over 77% market share by total transactions:

]]>

China Third-Party Online Payment Market in 2013

Thu, 10 Apr 2014 01:00:21 +0000

China third-party online payment market reached 5372.98 billion yuan (USD 870.33 billion) in 2013, with 46.8% YoY increase. According to iResearch, it will maintain the high growth rate and its importance in the whole economy strengthened. The deep collaboration with finance enterprises helped third-party online payment find a new growth point. 2013 was only the beginning of this new growth point, it hasn’t realized full potential yet.

The market share of core third-party online payment enterprises’ market share remained stable in 2013, Alipay led the market with absolute dominance of 48.7%. Tenpay ranked the second with 19.4%, followed by Unionpay with 11.2%.

]]>