China’s third-party internet payment transactions reached 4,058.43 billion yuan (USD 609.93 billion) in Q1 2016 with a year-on-year growth rate of 67% according to iResearch.
The number of Chinese tourists to Thailand reached 4.9 million person-trips in the first half of 2016, accounting for almost 30% of total inbound travelers according to Tourism Authority of Thailand.
The number of offline retail stores integrated with WeChat Payment has exceeded 300,000 according to data released in during a WeChat Payment partner conference.
Alipay is the largest third-payment online payment platform in China. And, Alipay is not satisfied to be only an online payment solution and made great attempts expanding offline in 2015.
Alipay and WeChat Pay are the two most popular mobile payment products in the market in China. Now, UnionPay is making a threat with mobile QuickPass and partnerships with ApplePay and SamsungPay.
The overall turnover of Black Friday in 2015 increased by nearly 30 times more than that in 2014 and the number of orders increased by nearly 35 times this Black Friday shopping season according to Alipay.
Mobile payment has penetrated into every part of daily life in China such as online shopping, taking a taxi, supermarkets and food delivery in particular. About 70% Chinese internet users have ordered foods in a month and about 70% would pay on mobile according to DCCI. Alipay, WeChat Payment and Baidu Wallet have become the […]
The annual online shopping banquet Double 11 2015 finally ended under the rush of advertising in the subways, buses, elevators, mobile phones, pop-up ads, WeChat, Weibo… Compared to previous years, the Double 11 2015 was held by both online and offline companies, including Alibaba, Suning, Tencent, Jingdong, Amazon, Yihaodian and others, which has become a […]
WeChat Payment has recently updated its fund transfer policy. Fund transfers or face-to-face payment using WeChat Payment is still free if the total monthly transfer is no more than 20,000 yuan (US$3,143.1). The excess part would take 0.1% transaction fee. However, WeChat red envelope is still free of charges.
In 2014, the transaction value of Chinese mobile payment reached 6 trillion yuan (US$0.94 trillion), and is expected to exceed 9 trillion yuan (US$1.41 trillion) in 2015. The popularity of O2O and smartphones triggered deeper penetration of electronic payments.
iResearch released a report on Chinese electronic payment users in 2015, which shows data of China e-payment and its users.
In 2014, total transaction value of China mobile payment market exceeded RMB599.247 billion(US$97.628 billion) with an increase of 391.3% from last year according to data of iResearch.
Total hongbao volume on Chinese New Year eve exceeded one billion on WeChat compared with 240 million on Alipay. The volume during the same period on Weiob was 101 million who started Hongbao campaign on 2 Feb 2015.
“2015 Let Hongbao Fly” campaign, jointly started by Weibo and Alipay, indicates the start of virtual Hongbao (or Red Envelope) war for Chinese New Year 2015.
Alipay’s Ant Financial Services Group has established China’s first credit agency, called Sesame Credit, to use a system based on online and offline data to generate individual credit scores for consumers and small business owners.