Chinese consumers spent US$5.5 trillion via mobile payment platforms in 2016, about 50 times more than their American counterparts. By the end of 2016, Tencent alone saw its active mobile payment accounts exceed 600 million users per month. … [Read more...]
China Finance News
China online finance news, trends and statistics.
All online payments to go through a network platform in China by mid 2018
“Direct model” payments on online and mobile payment platforms will be replaced by a “network model” operated through the People’s Bank of China (PBOC) network platform, with all direct payments to cease by June 30, 2018, according to a new notice promulgated on August 4th. … [Read more...]
China third-party online payment market overview Q1 2017
China's third-party online payment market had total transactions of over US$820 billion in Q1 2017, led by Alipay (34.7%) and UnionPay, while mobile payment transactions reached US$2,761.78 billion in China, led by Alipay (53.7%) and Tencent Finance. … [Read more...]
Quick case study: SPD Bank’s credit card WeChat mini-program
As more and more companies try to benefit from WeChat's mini-program, this article shares how Shanghai Pudong Development Bank (SPD Bank) is utilizing a WeChat mini-program for its credit card business, which recorded two million unique visitors as of 22 May 2017. … [Read more...]
WeChat MAU grew by 23% to 938M; QQ, QZone MAU down in Q1 2017
Tencent reported the first quarter total revenues of 49,552 million yuan (USD7,182 million) in 2017, an increase of 55% over Q1 2016. WeChat MAU further grew to 938 million while QQ and Qzone MAU saw a decrease in Q1 2017. … [Read more...]
1 in 4 China post-90s consumers use Alipay credit service
Over 45 million post-90s users in China signed up Alipay's Huabei or Just Spend for online shopping payment according to a recent report by Alipay. This payment option serves as a virtual credit card for Chinese online shoppers on Alibaba's Tmall and Taobao e-commerce sites. … [Read more...]
Top comprehensive finance service apps in China in March 2017
Ping An Jinguanjia, Jingdong Finance, and Ant Fortune (Ant Financial) are the top 3 mobile apps in China's comprehensive financial service category by the number of monthly active users in March 2017. … [Read more...]
Alipay’s internet fund Yu’E Bao exceeds 1 trillion yuan in Q1 2017
Yu'E Bao grows by over 40% QoQ in the first quarter of 2017 and totals 1.14 trillion yuan (US$170 bn). … [Read more...]
The growth of digital payment ecosystems in China: what it means for other countries
The rapid growth of social networks and e-commerce platforms has transformed the way people communicate and transact around the world. Integrating digital payments into these growing networks and platforms has presented vast opportunities to drive economic opportunity, financial inclusion, transparency, security, and growth. In practically all countries individuals, … [Read more...]
China third-party online payment overview 2011-2019
The total transactions of third-party online payment in China totaled 19.2 trillion yuan (US$2.79 trillion) in 2016 with an increase of 62.2%; the growth is slowing down but will continue to grow to 26.9 trillion yuan (US$3.91 trillion) in 2019. … [Read more...]
Digital trend of China fund, insurance, p2p loan market 2012-2020e
The total e-commerce transactions of fund market in China is estimated to reach 11.2 trillion yuan (US$1.63 trillion) in 2016; it's estimated to double the current amount to 26 trillion yuan (US$3.78 bn) in 2020. … [Read more...]
China’s mobile payment transactions almost doubled in 2016
The People's Bank of China recently released the payment business statistics for 2016. The country handled a total number of 125.111 billion non-cash payment transactions with the amount of 3,687.24 trillion yuan. … [Read more...]
China’s Credit Market Forecast 2016-2019
RMB credit balance totaled 93.6 trillion yuan in 2015 with an increase of 14.9% YoY according to iResearch. Consumption credit market in China is expected to exceed 41 trillion yuan in 2019. … [Read more...]
China post-80s spent an avg of US$17K online in 2016
China post-80s spent an average of 120,000 yuan(US$17,330) online in 2016; and, mobile payment accounted for 92% among China post-90s consumers. … [Read more...]
China online payment overview for Q2 2016
China Third-party online payment market had a total transaction value of RMB 4.65 trillion in Q2 2016, with an increase of 6.5% QoQ according to Analysis. … [Read more...]
Mastercard brings digital payment technology to Shanghai Free Trade Zone
Mastercard announced a strategic partnership in the Shanghai Free Trade Zone (SFTZ) where Mastercard will be the global network and payment technology provider for a revolutionary commodities trading platform. … [Read more...]