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 […]
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 […]
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 […]
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. The total transactions of China’s third-party online payment market were 5,584.831 billion yuan (US$820.03 billion) in the first […]
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.
On average Chinese outbound travelers spent 17% less per day in a twelve-month period than the previous year – from RMB3,324 (US$508) to RMB2,849 (US$436) according to a survey from Hotels.com.
China male consumers spent more on large purchases than female. 51% paid for over half of their online purchase on mobile end; and, mobile payment for virtual goods consumption increased by 6 percentage points higher in 2015 compared with the previous year according to China UnionPay.
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.
According to the latest data from China UnionPay, as of 30 August 2015, the number of China UnionPay internet and mobile payment users has exceeded 260 million. China UnionPay online payment has become an important option for cardholders.
In Q1 2015, China UnionPay’s total transaction value exceeded USD$1.9 trillion globally according to the latest data, which also means China UnionPay surpassed VISA for the first time in transaction value, becoming the biggest card liquidation organization in the world. According to the financial report of VISA, the total transaction value of VISA was USD$1.75 […]
According to China UnionPay, the quantity of chip bank cards (i.e. financial IC cards) released in China in 2014 was doubled compared with the previous year; the total quantity is expected to exceed 1.2 billion.