China E-payment Reached $86.17 Trillion in Q3 2015

Date: 2015-12-21

The third-party mobile payment transactions exceeded 2.42 trillion yuan (US$0.37 trillion) in Q3 2015 with an increase of 5.4% compared to the same period last year and 64.3% compared to the previous quarter this year according to iResearch.

China’s third-party mobile payment market slowed down in the third quarter of 2015 compared to the previous quarter. However, the shopping season from November to December will show a boost to e-commerce and e-payment.

Alipay and TenPay combined accounted for 89.1% third-party mobile payment market in the third quarter of 2015 and Alipay (69.9%) led the market with an overwhelming strength according to iResearch. With the huge user base and the increasing usage of offline payment scenarios, the number of mobile payment users had a further increase.

Banks in China saw 27.138 billion e-payment transactions which totaled 553.07 trillion yuan (US$86.17 trillion) in the third quarter 0f 2015. Phone payment business and mobile payment business grew rapidly in this quarter.

Mobile payment services reached 4.542 billion transactions which valued 18.17 trillion yuan (US$2.83 trillion) up by 253.69% YoY and 194.86% YoY respectively. Phone payment had 78 million deals and totaled 4.76 trillion yuan (US$0.74 trillion) in the third quarter increasing 136.44% YoY and 203.18% YoY respectively.

Online payment had 8.212 billion transaction volumes increasing 15.95% compared to the same period last year and gained 432.81 trillion yuan (US$67.44 trillion) increasing 18.39% compared to the same period last year.

In the third quarter of 2015, non-bank agencies had online payment transactions of 2.131 billion valuing 12.8 trillion yuan (US$1.99 trillion) increasing 122.72% and 102.21% compared to the same period last year respectively.

Contact With Us
Join templatemonster at google+
Customized Research
Request Sample