Q3 2015 China Third-party Mobile Payment Players Face Fierce Competition

Source:iResearch February 15,201610:51 AM
According to iResearch, China third-party mobile payment GMV reached 2.42 trillion Yuan in Q3 2015, rising 5.4% from Q2 2015 and 64.3% from a year earlier.

China third-party mobile payment slowed down its pace in Q3 2015 compared with the previous quarter due to the declining interest rate of online wealth management product and low Internet financing growth. With the increasing marketing and cultivation of user payment habit, the GMV of offline code scanning and payment continued to increase. Meanwhile, the growth of user loyalty and social payment activities such as sending red envelop and transferring contributed to the growth of transferring payment GMV. Compared with Q3 2014, user payment habit showed a clear trend of shifting from PC to mobile, so that online shopping developed fast even in the third quarter regarded as low season of online shopping.
The competition among mobile payment service providers remained fierce.

Alipay took up 69.9% while Tenpay occupied 19.2% of China third-party mobile payment market in Q3 2015. Meanwhile, the increase of users and offline payment scenarios stimulated growth of number and loyalty of social payment and offline payment user .

Meanwhile, other third-party companies had good performance as well. Payment companies such as union Mobile Pay and Lianlianpay which focused on in-app payment developed fast in Q3 2015; JD devoted much in Internet financing and had a significant growth while keeping its mobile shopping GMV growth; Payment companies represented by Bestpay and Pinganpay that relied much on the resources of parent companies or had outstanding offline sales teams also had satisfying performance; Lakala and 99Bill also experienced obvious development based on their powerful merchant resources. All in all, the participants of China third-party mobile payment market all made great efforts on different fields in Q3 2015. and any of them will possibly cast influence on the future of the industry. 

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