Finance

China 3rd-party payment overview for Q4 2018

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

WeChat total daily payment transactions exceeded 1 billion in 2018

The increase in Tencent’s revenues in Fintech in 2018 was driven by its take-rate on commercial transactions collected from merchants, cash withdrawal fees and credit

China’s payment and online banking mobile app market overview in 2018

China’s top 3 online banking players accounted for 36.7% of the total monthly active users of the online banking industry in December 2018. UnionPay QuickPass

Alipay to Connect Online and Offline more Closely

Alipay to start charging for credit card repayment in March 2019

Alipay announced yesterday it will start charging for its service of credit card repayment from 26 March. Alipay users can still enjoy the service for

Top platforms for financial ads in China 2018, led by Baidu News Feed, Toutiao & Tencent

Financial transactions via mobile devices in China is projected to be hit US$497.52 billion by 2019. Ads concerning debit and credit products took the largest share of

Huawei turning its smartphones to POS machines

Huawei is turning all its smartphones to Point-of-Sale (POS) machines based on the NFC technology, which means potentially hundreds of millions of POS machines. Merchants only

China non-financial institutes handled US$8 trillion transactions in Q3 2018

The third-party comprehensive payment market picked up in Q3 after its sluggish start this year, which reached 54.94 trillion yuan (US$8.01T) with a growth of

China online payment market down by 2.58% in Q3 2018

The third-party internet payment market in China showed no signs of picking up after its slump in Q2, which had been down from 6.96 trillion

China 3rd-party mobile payment hit US$6.4 trillion in Q3 2018, led by Alipay & Tencent Finance

China’s third-party mobile payment grew by 11.52% to 43.8 trillion yuan (US$6.39T) in Q3 2018. Alipay (53.71%) and Tencent Finance (38.82%) combined accounted for 92.53%, leaving

WeChat Pay to provide incentives to merchants in Jan 2019

WeChat is going to launch a new feature “Gifts upon payment” for WeChat Pay to get the small and medium merchants further engaged in January

China payment market overview in Q3 2018; 17 billion mobile transactions, up 74% YoY

In China, a total of 257.99 billion non-cash payment transactions were processed with a total amount of 925.46 trillion yuan (US$134.91T) in Q3 2018, an

Over half of China’s credit cards are applied online

There are 588 million active credit cards and (debit and credit) integrated cards in China as of December 31, 2017, an increase of 26.35% year-on-year