In Q4 2018, China's third-party mobile payment grew by 7.78% to US$7 trillion in Q4 2018. Alipay (53.78%) and Tencent Finance (38.87%) combined had a total of 92.65% market share. The third-party internet payment market shrank by 3.48% quarter-on-quarter to US$0.94 trillion. The top 3 players accounted for 56.42% share of this market.
3rd-party mobile payment
China's third-party mobile payment market exceeded 47 trillion yuan (US$7 trillion) in Q4 2018, an increase of 7.78% quarter-on-quarter. It was greatly boosted by several big online shopping festivals represented by Alibaba's Tmall Double 11.
Besides, further integrated online and offline usage scenarios including e-commerce, food & beverage, air flights, and transportation, etc. motivated businesses to stimulate mobile payment through a wide variety of promotions.
Mobile payment has been penetrating users' everyday life. Notably, some players are trying to leverage mobile payment to fully digitize supply chain...
Already subscribed? Sign in.
Don't Miss Out.
Invest with as little as one bottle of water per week.
Join other top analysts and business executives and navigate the unique market with China Internet Watch.
Cancel at any time