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 7.99% quarter-on-quarter. Alipay, Tencent Finance, and UnionPay combined accounted for 87.5% of the total. China’s non-financial institutes that provide payment services processed around 54.94 trillion yuan-valued transactions in Q3 2018, an […]
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 yuan (US$1.02T) in Q1 to just 6.54 trillion yuan (US$0.95T) in Q3. Alipay, UnionPay, and Tencent Finance combined accounted for 56% market share. China’s third-party internet payment market slid by […]
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 a small space for other players.
92% of mobile internet users in China used mobile payment in Q3 2018, a little decline compared with 92.4% in May, according to the report from Ipsos. The penetration rates of Tenpay (WeChat Pay + QQ Wallet) and Alipay were 84.3% and 63.6% respectively. Around 24% of Tenpay users never used Alipay while only 3.5% […]
The mobile payment transactions totaled 14.92 billion with an amount of 62.88 trillion yuan (US$9.09T) in Q2 2018, an increase of 73.09% and 60.24% year-on-year, respectively. The mobile payment users were expected to reach 650 million by the end of 2018. The young are the major users of mobile payment. 59.9% of mobile payment users […]
92.4% of mobile internet users in China used mobile payment. The penetration rates of Tenpay (WeChat Pay + QQ Wallet) and Alipay are 85.4% and 68.7% respectively. In personal transactions, mobile payment was most frequently used in phone top-up (69%), money transfer (63%), and red envelope sending (60%). Check out more usage scenarios below. The […]
Alipay announced the overseas transaction summary for this year’s Golden Week (October 1-7). It processed 2.2 times as many overseas in-store transactions during this year’s holiday compared to last year. Top destinations by transaction volume are Hong Kong, Thailand, and Japan.
Some mobile apps have developed mini-apps in China, which requires no installation and allows instant usage on their platforms by users. The leading ones are WeChat, Alipay, and Baidu while Huawei, Vivo, Xiaomi and 9 other major applications have also developed their own. While WeChat Mini-Programs leads the game, Alipay mini-apps also shows some potential. […]
Singapore Airlines (SIA) and Alibaba Group this week announced a comprehensive strategic collaboration aimed at enhancing the customer experience for travelers. The collaboration encompasses several players in Alibaba Group’s ecosystem including Fliggy, Alibaba Cloud, Alipay and Cainiao Network.
Alipay announced its partnership with Global Tax Free (“GTF”), a tax refund agency, to launch the world’s first paperless mobile tax refund function in South Korea. It simplifies the process by enabling Chinese tourists to apply for and claim tax rebates on their mobile phone app.
The transactions of online payment in China totaled exceeded US$3 billion in 2017, with a decrease of 0.5% from 2016. China’s mobile payment had 562 million users in 2017, up by 21.6% over 2016. It is estimated to reach 650 billion users by the end of 2018. The transactions of online payment totaled 20.751 billion yuan […]
The total transactions of third-party mobile payment reached 40.36451 trillion yuan (US$6.08 Tn) in Q1 2018, up by 6.99% over Q4 2017 and dominated by Alibaba affiliated Alipay (54%) and Tencent Finance. Alipay continued to lead this market with a share of 53.76%, followed by Tencent Finance (38.96%), they combined accounted for 92.71% of the […]
When you are still astonished by the unique experiences brought by mobile payment in China, WeChat and Alipay have already started to lead a new payment innovation out of smartphones. Highways contactless payment Alipay launched “license plate payment”. As long as the Zhima Credit is more than 550 points, users can directly bind their car […]
The total transactions of China’s 3rd-party online payment market grew by about 5% QoQ in Q4 2017 while mobile payment continued strong growth of 28% QoQ. Alipay, WeChat Pay, and UnionPay continue to lead these markets. Third-party online payment in China The transaction value of China’s third-party online payment grew by 4.99% QoQ to 6,699.724 […]
Alibaba’s full-year revenue grew 58% in fiscal 2018 (April 2017 to March 2018), core commerce revenue grew 60%, with profit growth of over 40% and annual free cash flow of US$15.8 billion. Looking ahead to fiscal 2019, Alibaba expect overall revenue growth above 60%.