92% of mobile internet users in China used mobile payment in Q3 2018, a little decline compared with 92.4% in May, according to the report from Ipsos. The penetration rates of Tenpay (WeChat Pay + QQ Wallet) and Alipay were 84.3% and 63.6% respectively. Around 24% of Tenpay users never used Alipay while only 3.5% of Alipay users never used Tenpay. There were 60.1% of users using both Alipay and Tenpay.
The average monthly expenses were 4,069 yuan (around US$590.04) in Q3. 54% of transactions were processed through the third-party payment platforms, among which 41% were dealt with via mobile payment.
From the perspective of penetration, mobile payment has been every facet of users’ daily life including personal transactions (94%), online transactions (81%), offline transactions (85%), and financial transactions (21%). Driven by Alipay and WeChat’s promotions, more and more chose to use mobile payment in offline payment scenarios. Featured with a small amount in value and h...
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