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 2.58% quarter-on-quarter to just 6.54 trillion yuan in Q3 2018, which was as high as 6.96 trillion yuan in Q1.
Alipay took the leading position with a share of 23.5%, followed closely by UnionPay (22.92%). Tencent Finance ranked third with a share of 9.57%. The top three players combined represented 55.99% of this market.
China mobile payment usage in Q3 2018...
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