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.
Apple today announced that the App Store has added UnionPay as a payment option for customers in China. China UnionPay is the most popular payment card in China and will provide App Store customers with a simple and more convenient way to purchase their favorite apps. Customers can easily link their Apple ID with a […]
Alipay’s mobile app exceeded 61.339 million MAUs in August 2014 in China according to EnfoDesk, remaining the most popular mobile payment app, followed by that of Bestpay, Tenpay and Lakala. In comparison, the top three online payment providers in the first quarter of 2014 were Alipay, Tenpay and Unionpay by total mobile transactions who together represented over […]
China’s third party internet payment totalled RMB1873.15 billion (USD 302.71 billion) in Q1 2014, with a YoY growth rate of 84% according to iResearch.
Total online payment market in the first quarter of 2014 reached 1.96 trillion yuan, a growth rate of 5.1% QoQ. The top three providers, Alipay, Tenpay and Unionpay represent over 80% of the total.
Could Wechat avoid Unionpay to test its POS payment? The answer is yes. Many reliable sources indicated that Wechat POS payment will launch on 22 in March, 2014.
According to People’s Daily report on January 9, 2014, in 2013, Chinese outbound travelers reached 97.3 million, with 14 million more travelers than 2012. It was estimated to break 100 million in 2014.
The newest research by A.T.Kearney published on October 18th, 2013, showed that 2% Chinese consumed one third of global luxury brands, including cosmetics, private jet, jewelry, watch and designer bags. The research pointed out China would be even more important to luxury industry in 3 or 5 years later. Famous brands like LV and GUCCI […]
Alipay, together with 16 other third-party enterprises, were granted with cross-border payment license. The 17 enterprises are located in five cities and their licenses were granted in different businesses. Alipay, Tenpay, Chinapnr, Allinpay, Unionpay, 99Bill, shengpay,IPS, fuiou, yeepay and chinagpay are allowed in trade in goods, overseas education, air tickets and hotels; yinyingtong is allowed […]