China's Third-Party Online Payment Transactions Approached 30 Tn Yuan in 2018

Source:iResearch May 13,20191:09 PM
In 2018, China’s third-party online payment transactions reached 29.1 trillion Yuan with a YoY growth of 3.6%.
iResearch finds that the market share of the second-echelon online payment companies increased slightly in 2018 for the first-echelon companies, Alipay and Tenpay, shifted their focus from PC payments to mobile payments. 
The companies in the second echelon are actively exploring their own advantages and deepening their development in segmented markets so as to carry out a differentiated development strategy. Thus, the online payment market in the future is full of opportunities and challenges for all participants. 

In China, offline code scanning payment transactions increased from 3.5 trillion Yuan in Q1 2018 to 7.2 trillion Yuan in Q4 2018 with a QoQ growth higher than that of the whole third-party mobile payment market in each quarter respectively. The share of offline code scanning payment in the whole mobile payment market expanded from 5.2% in 2017 to 11.2% in 2018 as well.
iResearch holds the opinion that the relatively mature code scanning payment technology and the rising penetration rate of related infrastructure make offline code scanning payment a key development driver for mobile payment in the near future. Given that the profit of basic payment services has been further reduced, the market participants should consider offering value-added services based on payments to business listings, like credit services and marketing services, as their main profit resource.

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