Chinese Mobile Payments Services Market, Forecast to 2023

Chinese Mobile Payments Services Market, Forecast to 2023

Payment Giants Setting Global Trends in Mobile Payments

RELEASE DATE
21-Nov-2018
REGION
Asia Pacific
Research Code: 9ABE-00-41-00-00
SKU: TE03858-AP-MR_22580

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Description

The Chinese market for mobile payment offers not only market opportunities for solution providers intending to operate within the domestic market but also learning points for global mobile payment solution providers. China is a unique case study that can showcase to the world that cashless societies are becoming increasingly possible. Already, 40% of Chinese users carry less than RMB¥100 (US$15) in cash and mobile payment has become common among Chinese citizens.

The lack of history of credit card use and wide adoption of e-Commerce has facilitated the quick expansion of mobile payments in China. Alibaba, through its dominance in e-Commerce, and Tencent, through its mobile social media and messaging platforms, WeChat and QQ, connect mass market audiences and lead the mobile payment market with their respective e-Wallet products, Alipay and WeChat Pay. They started out addressing the lack of infrastructure, and evolved by offering relevant use cases and viable business models.

The Chinese Government is a strong promoter of the IT industry. Its support in releasing licenses to 250 third-party payment providers has ensured the fast adoption of mobile payments services in the country. Easy, fast, efficient, and secure mobile payment solutions have increased the uptake of mobile payments in China. However, despite current progress, there are still underserved pockets such as the rural market.

Research Scope

This study analyzes mobile payment services in China. The time frame covered is 2017 to 2022, and the forecast period is from 2018 to 2022.

Companies mentioned in this study include, but are not limited to, 1 wallet, Alibaba Sesame Credits, Alipay, Baidu wallet, Baihang Credit Scoring, Inspiry Technology, Meituan wallet, Tencent Credit, UMF, Union Pay, WeChat, Xiaomi wallet, and Yiqianbao.


Key Issues Addressed

  • What is the scope of mobile payment services in China? What are the capabilities being offered via mobiles?
  • Who are the key market players and what are their service offerings?
  • What is the revenue upside and how can payment capabilities in apps improve the efficiency of business processes and reduce manpower requirements?
  • What are the risks of implementing a mobile payment service? What are the updates on the governing local regulations and standards?
  • Why are global, standard, and inter-operable digital payment solutions needed to expand the mobile payment market and facilitate a cashless society?

Author: Mei Lee Quah

Table of Contents

Key Findings

Market Definitions

Key Questions this Report will Answer

Market Overview

Market Overview (continued)

Active Mobile Payment Customers and Transaction Value Forecast

Active Mobile Payment Customers and Transaction Value Forecast Discussion

Payment Methods in 2017

China—Electronic Payment in China in 2017

Cashless Society

Establishment of the NUCC

Establishment of the NUCC (continued)

The Impact of the NUCC on Alipay and WeChat Pay

Credit Scoring System in China

Alibaba Sesame Credit and Tencent Credit

PEST Analysis of Third-party Payment Systems

Third-party Payment Methods

Quick Payment versus QR Code Payment

Traditional POS versus Smart POS

China—Alipay

Alipay’s Footprint in Southeast Asia

Business Model of Alipay

Revenue Model of Alipay

WeChat

WeChat (continued)

Business Model of WeChat (Excluding WeChat Pay)

Revenue Model of WeChat

Business Model of WeChat Pay

SWOT Analysis—Alipay versus WeChat Pay

Baidu Wallet

Acceptance Points of Mobile Payment

Acceptance Points of Mobile Payment (continued)

Cross-border Payment

Cross-border eCommerce

Cross-border Payment in Travel and Education

Addressing the Elderly Market

Market Analysis

Market Analysis (continued)

“Going Cashless” versus “Going Less Cash”

Local versus Global

Local versus Global (continued)

Mobile Payment Solution of Today

What Mobile Payments in the Future Needs to Be

Sustained Use of the Credit Card Model is Expected

Complemented by Alternate Global Solutions for eMoney

Growth Opportunity

Strategic Imperatives for Success and Growth

Conclusions and Recommendations

The Last Word—3 Big Predictions

Legal Disclaimer

List of Exhibits

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
The Chinese market for mobile payment offers not only market opportunities for solution providers intending to operate within the domestic market but also learning points for global mobile payment solution providers. China is a unique case study that can showcase to the world that cashless societies are becoming increasingly possible. Already, 40% of Chinese users carry less than RMB¥100 (US$15) in cash and mobile payment has become common among Chinese citizens. The lack of history of credit card use and wide adoption of e-Commerce has facilitated the quick expansion of mobile payments in China. Alibaba, through its dominance in e-Commerce, and Tencent, through its mobile social media and messaging platforms, WeChat and QQ, connect mass market audiences and lead the mobile payment market with their respective e-Wallet products, Alipay and WeChat Pay. They started out addressing the lack of infrastructure, and evolved by offering relevant use cases and viable business models. The Chinese Government is a strong promoter of the IT industry. Its support in releasing licenses to 250 third-party payment providers has ensured the fast adoption of mobile payments services in the country. Easy, fast, efficient, and secure mobile payment solutions have increased the uptake of mobile payments in China. However, despite current progress, there are still underserved pockets such as the rural market.--BEGIN PROMO--

Research Scope

This study analyzes mobile payment services in China. The time frame covered is 2017 to 2022, and the forecast period is from 2018 to 2022.

Companies mentioned in this study include, but are not limited to, 1 wallet, Alibaba Sesame Credits, Alipay, Baidu wallet, Baihang Credit Scoring, Inspiry Technology, Meituan wallet, Tencent Credit, UMF, Union Pay, WeChat, Xiaomi wallet, and Yiqianbao.

Key Issues Addressed

  • What is the scope of mobile payment services in China? What are the
More Information
No Index No
Podcast No
Author Mei Lee Quah
Industries Telecom
WIP Number 9ABE-00-41-00-00
Is Prebook No
GPS Codes 9657,9702-C1,9705-C1,9838-C1,9A66-C1