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 transaction...
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.
Cancel at any time