According to the latest statistics from iResearch, the transaction scale of China online payment reached 776 billion yuan (USD 124 billion) in Q1 2012, with the YoY growth of 112.6% and the QoQ growth of 1.2%.
Though growing speed slipped down a bit, online payment services keep high growth in 2012
The first quarter was an off season for online shopping and travel booking industry, whose decrease in transaction scale directly affects online payment industry. In Q1 2012, the total transaction scale of e-commerce market is 1.75 trillion yuan (USD 280 billion), showing an increase of 25.8% compared with last year and a decline of 4.2 on a sequential base. The transaction scales of online shopping and travel booking declined for 0.8% and 2.1% respectively compared with last quarter.
While traditional industries bring new sources of growth for online payment services, some online payment enterprises extend their services into industries like steel, logistic, capital funds and education. Except for payment settlement services, they will even provide specific industry solutions.
The competitive landscape of online payment was relatively stable
Based on the market share distribution, the competitive landscape of online payment was relatively stable with Alipay keeping its safe lead in Q1 2012. It seems that these businesses had their footing and unique advantages in this industry.