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 billion yuan (US$1,054.73 billion) in Q4 2017.
Within this market, Alipay remained the market leader with a share of 24.5%, followed by UnionPay (23.89%) and Tencent Finance (10.17%). The top three combined took 58.56% shares in the market.
The e-commerce shopping festivals in this period contributed a lot to the high growth of online payment according to Analysis. Revenues from Alibaba’s core e-commerce business reached 73.244 billion yuan, up 57% year-on-year. Mobile Taobao had approximately 515 million active consumers; Tmall’s GMV grew by 43% year-on-year. JD’s total revenues reached 110.2 trillion yuan, up 38.7% year...
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