Chinese Mobile Payments Services Market, Forecast to 2023

Payment Giants Setting Global Trends in Mobile Payments

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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,

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

Chinese Mobile Payments Services Market, Forecast to 2023Executive SummaryKey FindingsMarket Overview—Total Mobile Payments Services in ChinaMarket DefinitionsKey Questions this Report will AnswerMarket OverviewMarket Overview (continued)Forecast and Market Trends—Total Mobile Payments ServicesActive Mobile Payment Customers and Transaction Value ForecastActive Mobile Payment Customers and Transaction Value Forecast DiscussionCountry AnalysisPayment Methods in 2017China—Electronic Payment in China in 2017Cashless SocietyEstablishment of the NUCCEstablishment of the NUCC (continued)The Impact of the NUCC on Alipay and WeChat PayCredit Scoring System in ChinaAlibaba Sesame Credit and Tencent CreditPEST Analysis of Third-party Payment SystemsThird-party Payment MethodsQuick Payment versus QR Code PaymentTraditional POS versus Smart POS China—AlipayAlipay’s Footprint in Southeast AsiaBusiness Model of AlipayRevenue Model of AlipayWeChatWeChat (continued)Business Model of WeChat (Excluding WeChat Pay)Revenue Model of WeChatBusiness Model of WeChat PaySWOT Analysis—Alipay versus WeChat PayBaidu WalletAcceptance Points of Mobile PaymentAcceptance Points of Mobile Payment (continued)Cross-border PaymentCross-border eCommerceCross-border Payment in Travel and EducationAddressing the Elderly MarketMarket AnalysisMarket Analysis (continued)A Global Solution for Mobile Payments“Going Cashless” versus “Going Less Cash”Local versus GlobalLocal versus Global (continued)Mobile Payment Solution of TodayWhat Mobile Payments in the Future Needs to BeSustained Use of the Credit Card Model is ExpectedComplemented by Alternate Global Solutions for eMoneyGrowth Opportunities and Companies to ActionGrowth OpportunityStrategic Imperatives for Success and Growth The Last WordConclusions and RecommendationsThe Last Word—3 Big PredictionsLegal DisclaimerAppendixList of ExhibitsList of Exhibits (continued)The Frost & Sullivan StoryThe Frost & Sullivan StoryValue Proposition—Future of Your Company & CareerGlobal PerspectiveIndustry Convergence360º Research PerspectiveImplementation ExcellenceOur Blue Ocean Strategy

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