Alipay’s mobile app exceeded 61.339 million MAUs in August 2014 in China according to EnfoDesk, remaining the most popular mobile payment app, followed by that of Bestpay, Tenpay and Lakala.
In comparison, the top three online payment providers in the first quarter of 2014 were Alipay, Tenpay and Unionpay by total mobile transactions who together represented over 80% of the total market share.
Bestpay is China Telecom‘s mobile payment solution. Bestpay account, once topped up, can be used to make payment on website, by SMS or voice. China Telecom users who use RFID-UIM phone card can use their phone to make payment.
China top 4 online payment mobile apps all had rapid use frequency growth rate , especially Bestpay who had 789.65% growth rate while Lakala had slight decrease in total time spent growth rate in August 2014.
Mobile payment is a big market in China and it’s very competitive. Tencent’s Wechat launched a “card payment” option this month with which users can make fast payment at supported retail chains; this payment is either using remaining fund in Wechat Wallet or linked to the user’s bank ATM card.
Alibaba’s Alipay partnered with Huawei and launched finger payment standard in China, which is first available on Huawei’s smartphone Mate 7. 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; read more here.