China’s mobile internet saw slower growth of 48.8% in transactions to 8,229.88 billion yuan (US$1,267.10 bn) in 2017. And, it’s expected to reach 11,432 billion yuan in 2018 and exceed 19 trillion yuan in 2020. Check out some forecast into various mobile internet segments from 2018 to 2020, including shopping, payment, advertising, travel, and etc. […]
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 […]
Chinese consumers have high expectations for more comfortable and individualized mobile shopping experiences. Most of them are willing to pay more for goods or service with the better shopping experience. Mobile payment application will play a role in better mobile shopping experience for the emerging economy, according to Worldpay. 62% of Chinese are willing to […]
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 […]
The total transactions via non-finance institutions in China totaled 42,167.92 billion yuan in Q3 2017 with an increase of 17.4% QoQ according to Analysis. This market is led by Alipay, Tencent Finance, and China UMS with 41.36%, 29.07%, and 13.41% market share respectively. China third-party internet payment market saw 6,381.551 billion yuan transactions in Q3 2017 […]
A survey by Nielsen shows that for Chinese tourists who are generally well-off, tourist attractions and the travel experience are more important factors than the costs that might be incurred. 56% of the respondents expressed that the beauty and uniqueness of a given destination is their primary consideration, while 47% stated that safety of the […]
The Big Picture of Mobility: 2017 Deloitte China Mobile Consumer Survey is an online survey conducted by Deloitte China TMT industry during the past five years. The survey focuses on consumer behaviors, trends, and opinions regarding a broad range of wireless and mobility products and services.
More than three-quarters (76.3%) of smartphone users (461.4 million) in China will use phone payment for goods and services at the point of sale (POS) in 2017 according to eMarketer, raising its projections by more than 86.0%.
Online banking in China has suffered badly at the hands of online and mobile payment providers over the past few years. In the second quarter of this year, transaction volumes fell for the first time ever.
Internet and mobile payment services have spread like wildfire in China over the last two years, filling the gap which existed in the formerly cash-dominant society for the safe and secure transfer of money and electronic payments. China has only a very limited credit and debit card infrastructure, offering an opening for mobile payments unseen […]
Digital or electronic payments have become the go-to method for many consumers in China to pay for purchases and transactions, online or offline. Coming into the digital age with only a limited credit and debit card infrastructure outside major cities, China leapfrogged straight to mobile payments from cash, pushing the trend further than is seen […]
Total transactions of China mobile banking clients totaled 55.63 trillion yuan (US$8.44 trillion) with an increase of 5.1% QoQ. China Construction Bank (26.1%) and Industrial and Commercial Bank of China (21%) combined account for close to half of China’s mobile banking market in Q2 2017. Check out mobile payment usage report here…. Log in or […]
China is leading the way on this front. Only 25% of respondents from China cited cash as the most often used form of payment, compared to 48% who cited e- or mobile wallets as being their top preference according to PayPal.
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.