The total transactions of third-party mobile payment reached 40.36451 trillion yuan (US$6.08 Tn) in Q1 2018, up by 6.99% over Q4 2017 and dominated by Alibaba affiliated Alipay (54%) and Tencent Finance.
Alipay continued to lead this market with a share of 53.76%, followed by Tencent Finance (38.96%), they combined accounted for 92.71% of the market.
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