Chart: Alibaba’s Massive Dominance Of China’s Mobile Payment Market

 market-share-by-mobile-payment-value1 copy

China’s mobile commerce market is rapidly growing thanks to the fact that Chinese consumers are more open to mobile shopping than those from anywhere else in the world. At the head of the mobile e-commerce game right now is e-commerce behemoth Alibaba’s payment system Alipay, which commanded nearly 80 percent of China’s mobile payment provider market in the second quarter of this year.

A new chart by China Internet Watch using data from iResearch shows that rival Tencent’s second-place Tenpay, which can be used on mobile messaging app WeChat, comes in a far second with close to 9 percent of the market.

Chinese shoppers are the most willing group in the world to adopt “e-wallet” technology—a survey in March found that 44 percent of Chinese consumers see this as their “preferred payment vehicle.” Brands hoping to gain an edge in China’s e-commerce market should pay close attention to the changes in this industry, including new developments in technology and the fierce rivalry between Alibaba and Tencent.

 

Categories

Mobile, Tech