In Q4 2018, China's third-party mobile payment grew by 7.78% to US$7 trillion in Q4 2018. Alipay (53.78%) and Tencent Finance (38.87%) combined had a total of 92.65% market share. The third-party internet payment market shrank by 3.48% quarter-on-quarter to US$0.94 trillion. The top 3 players accounted for 56.42% share of this market.
3rd-party mobile payment
China's third-party mobile payment market exceeded 47 trillion yuan (US$7 trillion) in Q4 2018, an increase of 7.78% quarter-on-quarter. It was greatly boosted by several big online shopping festivals represented by Alibaba's Tmall Double 11.
Besides, further integrated online and offline usage scenarios including e-commerce, food & beverage, air flights, and transportation, etc. motivated businesses to stimulate mobi...
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