According to the Quarterly Monitoring Report on China’s Third Party Online Payment Market in 2017Q2 recently issued by Analysys, the trading volume of China’s Third Party Online Payment Market in 2017Q2 was RMB 5.876551 trillion, a comparative growth of 5.22% on moving base.
The market competition pattern of third-party online payment varied slightly, of which Alipay still ranking top with a share of 28.05%, followed by China UnionPay (25.58%) and then Tecent Finance (11.72%). The Top 3 institutions took a share of 65.35% in the trading volume of the online payment industry in total.
According to Analysys, after the Spring Festival, as positively influenced by factors such as marketing, the growths of transaction scale in industries such as e-commerce were remarkable, which further drove the improvement of overall transaction scale of online payment. In addition, leading online payment providers further deepened and expanded the online payment scenes. The user activeness on platforms such as online loan, financing, game and education were remarkable enhanced. And the increase of new users was remarkable. This had further driven the growth of the overall transaction scale of the online payment industry.
As for the transaction shares, in this quarter, Alipay, China UnionPay and Tecent Finance still ranked top 3 and took a proportion of 65.35% of the transaction scale of online payment market totally. After transferring more resources to the mobile side, Alipay positively explored third-party industry services while maintaining the original scale of the Group. Plus the advantageous supports from e-commerce and financing business, the transaction share of Alipay still ranked the top. Benefited from its superior markets of games, virtual commodities, etc. as well as increase of revenue from value added services of the own platforms, the market share of Tecent Finance was 11.72%.
Baofoo conducted multiple marketing events with consumption financing and wealth management institutions, and its influence in the fields of online financing and consumption financing was being increasingly intensified. Meanwhile, Baofoo positively expanded cross-border industries and the overall transaction scale was increased in a continuous manner. In addition, it had also reached bank-enterprise strategic cooperation with Shanghai Bank and Kincheng Banking Corporation and made in-depth exploration on the cooperation between traditional finance and emerging finance.
For more information about the third party online payment market, please keep an eye on Analysys's official WeChat account or call at 4006-515-715 for customer services.
Research Notes:
Industrial analysis provided by Analysys is made mainly based on macroeconomic industrial data, final quarterly user survey data, historical data of the companies, quarterly business monitoring information of companies, etc. by Analysys's industrial analysis models with reference to market research, industrial research and company research approaches. And such analysis mainly reflects the market status quo, trends, break points and rules as well as the development status quo of companies.
Analysys believes that the data drawn according to the abovementioned industrial research approaches is within the recognized acceptable error range within the industry and can accurately reflect the industrial trends and change rules.
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