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 increase of 33.31% and 0.18% year-on-year, respectively, according to the report from the People’s Bank of China. Among that, e-payment transactions processed via banking institutions reached 45.24 billion with an […]
Chinese FinTech companies took four places of the Top 10 FinTechs Ranking in 2018. Ant Financial topped the list, followed by JD Finance. Baidu-affiliated Du Xiaoman Financial and Lufax ranked fourth and tenth, respectively, according to the report from H2 Ventures and KPMG.
There has been much discussion about China’s mainland leading the world in mobile payment, but how advanced is it compared to other markets? Chinese mainland consumers like to use mobile payment even more than cash, which makes it a distant leader in mobile payment adoption among six APAC markets, according to a Lightspeed survey. As […]
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 […]
In China, a total of 53.358 billion non-cash payment transactions were processed with a total amount of 951.72 trillion yuan (US$137.52T) in Q2 2018, an increase of 44.61% QoQ and 0.2% year-on-year, according to the report from the People’s Bank of China. Among that, e-payment transactions processed via bank institutions reached 43.77 billion with an […]
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.
The emerging e-commerce has a great impact on the traditional retail industry, which has slowed down its developing pace and started to arrange offline sales since 2017. Seamless integration of online and offline shopping has become a trend, more and more retailers think consumer experience and efficiency important. However, they need to know more about consumers in […]
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 […]
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 […]