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.