Online Payment in China – Statistics and Trends

04 Mar 2015

The number of online shoppers in China is increasing every day, with China’s online shopping spending expected to hit $1 trillion by 2020. Needless to say, no other country matches China’s online spending score at this point. This figure puts China as equivalent to the world’s 16th largest economy today. About 18.9% of online shoppers in China prefer domestic third-party online payment. 16.6% favor paying via online banks, and 15.5% prefer to pay using credit cards offline.

Check out our infographic, “Statistics Of Online Payment Methods In China” for a thorough look into the various online payments methods favored by online shoppers in China. You will also learn about the market share enjoyed by third-party payment bodies in China, the top mobile apps used for making online payments and much more.

Online payment in China

Infographic by GO Globe a web design Shanghai Company

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Market Share Of Online Third-Party Payment Providers In China

Third Party Payment Provider Market Share
Alipay 51.0%
Tenpay 18.60%
Unionpay 11.50%
99Bill 6.60%
Chinapnr 5.40%
Yeepay 3.20%
IPS 2.70%
Other 1.00%

 

Estimated Third Party Online Payment Market In China (In Billion Yuan)

Year Estimated size (in Billion Yuan)
2013 5,372.98
2014 7,436.89
2015 10,406.63
2016 14,143.96
2017 18,480.44

 

Top 5 Chinese Mobile Apps That Facilitate Online Payments

 Mobile apps MAU (Monthly Active Users) (In Millions)
Alipay Wallet 62.818
Tenpay 1.723
Bestpay 1.337
Alipay 0.998
Lakala 0.778

 

More than 80% of Chinese consumers prefer online payment methods when it comes to making cross-border payments.

Chinese Cross-Border Online Payment Method Preferences

Payment Type %Age
Domestic third party online payment 53.9%
Credit Card online payment 48.2%
Foreign third party online payment 45.0%
Online bank payment 50.6%
Mobile payment 24.0%