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Alipay dominates China mobile payment transactions

As 2014 is the year that Chinese e-commerce ‘goes mobile’, Mobile payment will undoubtedly be one of the hottest payment trends in China this year. In Q3 2013, the total mobile payment transaction volume came close to 300 billion RMB. Alipay, which is equivalent to PayPal in the US, dominates China’s mobile payment market by accounting for 72.6% of the total mobile transactions. Alipay is followed by Lakala, a subsidiary of Lenovo Holding Co. who provide offline E-Payment service, at 10.6% and UMPay at 5.1%. Yet another popular option is Alipay’s rival, Tecent’s Tenpay, which accounted for 3.9% in Q3 2013.

Chinese Mobile Payment Providers’ Market Share (Based on Transaction Volume) Q3 2013 - observer solutions blog

 Su-Jun Lim contributed to this post.

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