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Analysys: Internet Payment Size Hit RMB4,903.4 Billion in China’s Third-party Payment Market in 2016 Q3
In 2016 Q3, the Internet payment size in China’s third-party payment market reached RMB4,903.4 billion, a rise of 5.45% quarter on quarter, shows the Quarterly Monitoring Report on China’s Third-party Payment Market 2016 Q3 published by Analysys.
  • 25 Jan, 2017
  • Finance
  • 800
Analysys Insight:
In 2016 Q3, the Internet payment size in China’s third-party payment market reached RMB4,903.4 billion, a rise of 5.45% quarter on quarter, shows the Quarterly Monitoring Report on China’s Third-party Payment Market 2016 Q3 published by Analysys.
 
The competitive landscape in the third-party online payment market remained stable. Alipay ranked the first with a market share of 43.20% as usual, followed by Tenpay with a market share of 16.69% and China UMS with a market share of 15.77%. These top three vendors seized 75.66% of the entire market.
In 2016 Q3, the Internet transfer size hit RMB4,533.2 billion in China’s third-party payment market and grew 5.37% quarter on quarter.
The Internet transfer market sustained the competitive landscape as opposed to the previous quarter. China UMS defended its championship with a market share of 36.32%, followed by Alipay and Tenpay with a market share of 34.53% and 13.20% respectively.
Analysys thinks that the online transaction size maintained the growth rate in Q3, following the size expansion of the online payment industry in Q2 stimulated by the extensive promotion of e-commerce sites. The Q3 financial reports show that Alibaba.com realized a year-on-year growth of the revenue from the core e-commerce operation and this figure of JD.com was 38%. At the same time, the transaction sizes of the aviation, tourism and training segments also grew to certain extent, spurred by the rush season in the tourism segment in summer.
During the quarter, the Interim Measures Regarding the Administration of Online Lending was issued, but the sizes of Internet wealth management platforms gradually went stable after two years of growth. Analysys’ statistical data show that in 2016 Q3, China’s P2P online lending market was sized at RMB547.02 billion, up 20.4% quarter on quarter, which sustained the size expansion of the online payment market to some extent.
It is observed that the size of the online payment market slowed down, affected by mobile payment. However, the online payment industry will maintain growth, considering the aviation, considering the e-commerce, online lending and other industries with strong correlation with the Internet payment have not hit the ceiling yet.
Alipay, Tenpay and China UMS will consolidate respective territories with respective advantages and maintain steady growth, and the industry landscape will not change a lot in the short term. In Q3, 99bill promoted FFan Expressway, and signed commercial cooperation projects with external partners (general merchandise stores, supermarkets and shopping malls) while continuing to cover Wanda squares within the group. Besides, 99bill continued the cooperation with Shanghai Heading and started developing the South China after covering the convenience stores under the flag of Shanghai Heading in the East China in Q2.
During the quarter, ChinaPNR successfully extended the license, upgraded the fund payment service in an all-round manner and expanded the lineup of bank partners to a big extent, which has paved the way to expand the transaction size.
In Q3, Yeepay upgraded the Investment Express. Moreover, it initiated several member events in collaboration with China Southern Airlines, China Eastern Airline and other airline companies to develop the tourism market in depth, and maintained a transaction size expansion with the rush season in the tourism segment.
In Q3, Baofoo maintained its eighth place in the industry, further enhanced its influence in the Internet wealth management area, and further expanded the transaction size.
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