In the fourth quarter of 2019, China's third-party mobile payment transactions reached 59.8 trillion yuan (US$8.56 trillion), with a year-on-year growth rate of 13.4%.
The proportion of mobile consumption in China's third-party mobile payment increased to 24.5% in Q4 2019 from22.2% in Q3 2019.
Alipay and Tenpay continued to dominate the third-party mobile payment in China in Q4 2019 with 55.1% and 38.9% market share respectively.
The offline QR-code payment increased by 11.6% QoQ to 9.6 trillion yuan in Q4 2019, primarily driven by annual Double 11 and Double 12 promotions.
China's mobile NFC payment continued its growth of 7.4% QoQ or 51% YoY to 9.86 billion yuan. JD Pay was ranked first in this sector.
The third-party internet payment market in China was led by Alipay (35.0%), UMS (18.2%), and Tenpay (13.5%) in 2019.
Internet finance, individual, and online consumptions account for 43.7%, 22.8%, and 20.5% share respectively in the third-party...
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