In Q3 2014, total transaction value of China third-party online payment market exceeded RMB2,015.43 billion (US$328.1 billion) with increase of 41.9% year on year and 9.5% quarter on quarter.
In Q3, traditional online payment related industries like air ticket booking, online gaming…all had increase in total online payment transaction value.
In Q3 2014, total concierge transaction value of China UnionPay was RMB842.67 billion (US$137.18 billion) with increase of 9.3% QoQ and 79.8% YoY. With rapid growth of China third-party online payment market, China UnionPay plays an important role in standardizing the market.
In Q3 2014, Alipay accounted for 49.2% in China third-party online payment market, followed by TenPay (19.4%), Unionpay Merchants Services (11.6%) and 99Bill (6.9%).
As end of Q1 2014, Tencent had made cooperation with JD to integrate B2C and C2C business with each other. This cooperation made slight change to online shopping market. Alibaba still remained its leader status in Q3 as its stable online shopping profit as well its IPO; and Alipay’s market share had slight increase in Q3 while TenPay had a decrease. 99Bill and Unionpay Merchants Service benefited from Jingdong due to their cooperation relationship.
Total concierge transaction value of China third-party online payment market exceeded RMB2,627.3 billion (US$427.7 billion) with an increase of 14.3% quarter on quarter in Q3 2014 according to data of EnfoDesk.
Alipay, China UnionPay and TenPay represented 37.31%, 32.07% and 15.06% respectively in China third-party online payment market by concierge transaction value in Q3.
In Q3 2014, total settlement transaction value of China third-party online payment market was RMB2,237.6 billion (US$364.29 billion). The top three third-party online payment providers were Alipay, TenPay and China UnionPay Merchants Service.
Mobile payment is growing more and more popular as mobile internet and e-commerce developed, Alipay ranked top in China mobile payment market in Q2 2014, accounting for 79.9% by total transaction value, followed by Tenpay and Lakala according to iResearch data.
In Q3 2014, total transaction value of China third-party mobile payment market was RMB1,433.27 billion (US$233.24 billion) with an increase of 415.5% from the same period of prior year. The transaction value mainly generated from mobile e-commerce, mobile group buying, mobile business trip and mobile-related consumption.
Alipay remained top in third-party mobile payment market by transaction value in Q3 2014, followed by Tenpay and Lakala.
Due to the popularity of Wechat payment since the former three quarters in 2014, Tenpay’s market share had a big rise in Q3 2014. Lakala’s transaction value kept stable by Q3 2014.
Having gone through the finance fluctuation in first half of 2014, mobile finance went stable in Q3 2014, of which mobile payment representing from 35% to 40%.
Also read: China Top 5 Online Payment Mobile Apps in Sep 2014
