One of the primary reasons for explosive growth of Chinese mobile ecommerce is its well developed payment component. There is no doubt that the proliferation of mobile payments in China has become the critical industry enabler. This week post features the infographic by Go-Globe summing up the main players in this space.
With over 83% of Chinese regularly accessing internet with mobile devices, it is no surprise that shopping online is quickly becoming one of their most favorite activities. Alibaba, China’s ecommerce giant, has seen this trend developing well in advance and made sure that Alipay, Alibaba’s payment system, will become the payment method of choice for millions of mobile shoppers.
As a result, mobile payments in China are dominated by Alibaba with its Alipay wallet app. Tenpay, the system developed by Tencent, is a distant second with only 8.9% market share vs. Alipay’s 79.9%
As the infographic further illustrates, mobile payments in China are mainly used for online shopping (63.2% of the time) followed by banking with 36.3%. Here is the full infographic:
Mobile Payments in China
