Mobile payments success in China must be tied to wider ecosystems

September 21, 2016  | Subscribers Only

Ruomeng Wang Ruomeng Wang Research & Analysis Manager, Security - Fintech & Blockchain
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The development of ecommerce China  has led more businesses to move to mobile platforms. Alibaba affiliate Alipay and Tencent-owned WeChat developed mobile payments as part of their wider ecosystem strategies. Payments are a bridge to connect multiple services within one app, thereby offering an integrated services experience. 

Highlights:

  • Mobile payments are more than a cash alternative in China
  • Alipay and WeChat have a clear lead in China
  • Why mobile payments companies are investing in China
  • How mobile payments companies partner with local players in China
  • Lessons from China’s unique mobile payments ecosystem

In this report: 

  • High Smartphone penetration indicates a large addressable audience for mobile payments services
  • High bank card penetration drives mobile payments services adoption
  • Key features of mobile payments in China
  • China mobile payments landscape
  • Developing local partnerships is crucial for mobile payments companies in China
  • Apple Pay and Samsung Pay are developing strong partnerships in China
  • Huawei and Xiaomi join the mobile payments market
  • Alipay: from payments-only to an integrated services platform
  • Alipay: Matchmaking European Merchants and Chinese Tourists
  • WeChat’s messaging payments leads new ecommerce ecosystem in China Social media and local practices
  • Taking advantage of operators’ mobile payments in China

List of tables and charts

  • Mobile payments services in China
  • China smartphone penetration 2014-2020
  • Bank card penetration in China
  • Mobile payments users in China (m)
  • Transaction volume: Mobile payments VS. mobile banking (m)
  • Mobile payments methods in China
  • China Apple Pay, Samsung Pay addressable devices (m)
  • Huawei and Xiaomi world smartphone shipments 2014-2020 (m)
  • WeChat monthly active users (millions)
  • China: mobile subscriptions by major operator (m)
  • Operators' mobile payments services in China

Number of pages: 21

Number of tables and charts: 11

 

Ruomeng Wang

Research & Analysis Manager, Security - Fintech & Blockchain

Ms. Ruomeng Wang, senior analyst at IHS Markit, focuses on fintech and blockchain research.

Geography
China
Research by Market
Mobile & Telecom
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