China's Third-Party Mobile Payment Market Shot up 69.7% in 2015

Source:iResearch April 11,20161:41 PM
The Third-Party Mobile Payment Market Size

The GMV of China third-party mobile payment attained 10.17 trillion Yuan in Q4 2015, shooting up 69.7% compared with 2014, and its growth was much lower than in Q4 2014.

Mobile shopping had a relatively high QoQ growth in Q4 2015 due to the promotions launched by e-commerce enterprises around “Double 11”. Meanwhile, many online shoppers put their target goods into the shopping cart before 11 November,placed orders and paid for them via mobile device on 11 November because the “Double 11” fell on a work day in 2015, which contributed much to the growth of mobile shopping as well. 

With the users’ Internet using habit shifting from PC to mobile and the fast development of mobile Internet, mobile shopping, transfer accounts and credit card repayment enjoyed rapid growth. However, affected by the negative news in P2P industry such as the scandal of Ezubao and Dada and users’ rising monetary demand around the end of the year, online finance decelerated its growth in 2015. 

Telecom recharging via mobile phones and WeChat Lucky Money service continued to rocket up thanks to the increasing acceptance of the mobile payment. 
Third-Party Mobile Payment Market Structure 

In Q4 2015, mobile finance, personal application and mobile consumption accounted for 38.9%, 32.3% and 26.0% separately in the third-party mobile payment market by GMV.

Seen from China's third-party mobile payment market structure in 2015, the share of mobile consumption and personal application rose while the share of mobile finance declined, which indicated that the user habit of conducting daily payment and applications via mobile device was forming with the development of mobile Internet and mobile payment, as well as the improvement of mobile payment consumption and application environment.
Main Players

In 2015, Alipay maintained its first place in third-party payment market as its GMV grew fast based on its e-commerce, transfer accounts and Yu Ebao with competitive advantage. However, its market share shrank slightly while shares of other third-party payment companies increased.

The change in shares of main players reflected the differences in growth of different companies’ GMV. Tenpay attracted huge payment demand and created new payment demand based on its frequently used WeChat payment and QQ wallet. and GMV of lucky money, transfer accounts and telecom recharging services offered by Tencent boomed up in 2015.

Lakala devoted much in mobile business development and made progress in the comprehensive finance service platform construction in 2015. It launched Lakala bracelet in order to meet users’ needs of daily payment. In addition, its unique background and key account development fueled its fast growth.

Although some negative news about P2P online finance that appeared at the end of 2015 did hamper the growth of P2P online finance, online finance still had a generally upward trend throughout 2015. Lianlianpay and Yeepay had a fast growth in 2015, too. Besides, 99Bill also had satisfying performance based on the commercial payment scenarios and financing products offered by Wanda Group.

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