China's Mobile Payment Industry 2020 - Mobile Payment Transactions in China Forecast to Reach RMB777.5 trillion in 2020, Surging by 31.8% on an Annualized Basis

Dublin, May 28, 2020 (GLOBE NEWSWIRE) -- The "Global and China Mobile Payment Industry Report, 2020-2026" report has been added to's offering.

In the past decade, mobile payment burgeoned and payment institutions mushroomed in the world, accompanied by a growing number of users and the fast-growing transactions. In 2018, the global mobile payment transactions fetched $4.296 trillion, a year-on-year spurt of 38.4%. The outbreak of the COVID-19 pandemic worldwide has bolstered robust growth of mobile payment transactions. A high growth rate of global mobile payments is expected in the next few years, and the transaction amount will be $26.341 trillion by 2026.

China remains ahead of other nations in mobile payment, with about 47 percent of mobile users using mobile & digital wallets the ranking number two. Norway sees a utilization rate of 42%, a figure far higher than other European countries.

At present, the world-renowned mobile payment platforms encompass Apple Pay, Google Pay, Alipay, WeChat Pay, etc., among which the largest one Alipay together with local wallet partners has served at least 1.2 billion users worldwide as of June 2019.

China, the world's largest mobile payment market, handled a total of 532.814 billion mobile payment transactions worth RMB445.22 trillion in 2018, up 92.48% and 44.53% year-on-year respectively. After the outbreak of the COVID-19 epidemic in China in December 2019, Payment & Clearing Association of China issued an initiative on February 28, 2020 to encourage people to use mobile payment, online payment and barcode payment to avoid the risk of infection. This will tremendously boost mobile payment transactions in China where the amount of such transactions will reach RMB777.5 trillion in 2020, surging by 31.8% on an annualized basis.

With the boom of the third-party mobile payment industry, third-party mobile payments have seen a rising market share year by year and squeezed mobile banking progressively. In 2018, the scale of China's third-party mobile payment transactions reported RMB167.83 trillion, soaring by 59.7% year-on-year and holding 37.7% shares. As expected, third-party mobile payments will enjoy higher market share than mobile banking by 2021 and occupy 58.1% by 2026.

The Global and China Mobile Payment Industry Report, 2020-2026 highlights the following:

  • Global mobile payments market (size, enterprise pattern, development in countries like the US, Japan and India, etc.)
  • China mobile payments market (regulatory policies, size, structure, enterprise pattern, etc.)
  • Mobile payment market segments (mobile banking, third-party mobile payment, NFC payment, QR code payment, etc.)
  • Characteristics of Chinese mobile payment users
  • Industries related to mobile payment in China (mobile netizens, smartphone, smart POS device, etc.)
  • 16 key global and Chinese mobile payment companies (operation, development strategy, etc.).

Key Topics Covered:

1.1 Definition
1.2 Classification
1.3 Industry Chain

2. Global Mobile Payment Market
2.1 Overview
2.2 Market Size
2.3 Regional Development
2.4 Competitive Landscape
2.5 Development Trend

3. Chinese Mobile Payment Market
3.1 Overview
3.2 Regulatory Policies
3.3 Market Size
3.4 Market Structure
3.5 Enterprise Pattern
3.6 Mobile Payment Overseas Layout
3.7 Development Trend

4. Mobile Payment Market Segments
4.1 Third-party Mobile Payment
4.2 Mobile Banking
4.3 Operators' Mobile Payment
4.4 Barcode Payment
4.5 NFC Payment
4.6 Biometric Identification Payment

5. Mobile Payment Users in China
5.1 Overview
5.2 Characteristics of Mobile Payment Users
5.3 Using Behaviors of Mobile Payment Users
5.4 Attributes and Behavior Preferences of Mobile Payment Users

6. Mobile Payment-related Industry Chain
6.1 Mobile Netizens
6.2 Consumer Terminal Devices
6.3 Intelligent POS Machine
6.3.1 Overview of Products
6.3.2 Market Size
6.3.3 Trend of Products

7. Major Global Mobile Payment Users

8. Major Chinese Mobile Payment Enterprises

Companies Mentioned

  • PayPal
  • Paytm
  • Stripe
  • MobiKwik
  • Adyen
  • AliPay
  • TenPay
  • 99Bill
  • YeePay
  • IPS
  • Lakala
  • UMPay
  • LianLianPay
  • PinganPay
  • Smartpay
  • Qiandai

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