Albany, NY (PRWEB) December 06, 2013
From May 2011 when the People’s Bank of China issued the first batch of payment licenses to July 2013 when the seventh batch was released, the number of licensed third-party payment firms in China soared to 250, with the type of licenses covering seven leading business systems out and out.
As far as the transaction scale is concerned, offline acquiring, internet payment and mobile payment are primary businesses in China third-party payment market. In 2012, the transaction scale of the three primary businesses stood at 98.27% of the total in the third-party payment market, with the highest from the offline acquiring business accounting for 68.8%.
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2013 witnessed a steady growth as a whole of the offline acquiring business in China third-party payment industry, with the targeted transaction scale totaling RMB13.1 trillion. In particular, commercial banks and CHINAUMS occupied a lion’s share in acquiring market. Under the influence of the restriction of macro-economic environment and the release of new rules, the market growth is projected to scale down.
In the first three quarters of 2013, the transaction scale of internet payment in China climbed by 37.26% year-on-year to RMB3.5604 trillion. As the industry is growing mature, some change is undergoing when it comes to application. While consolidating existing market share in the traditional application of online shopping (41.5%) and aviation (15.3%), industrial players are embarking on fund payment field.
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Entering 2013, mobile payment is performing best among the seven leading payment businesses. In 2013Q1-Q3, the transaction scale in China third-party payment market claimed RMB474.4 billion, up 213.88% over 2012 year round. In particular, the transaction scale in the third quarter saw a month-on-month growth of 152.6% to RMB296.51 billion. The explosive growth in the transaction growth is credited to the joint efforts of the involved as an element of the third-party payment industry chain.
In Aug., 2013, Tenpay worked with WeChat to launch WeChat Payment; in Oct.2013, Alipay Wallet updated to the 7.6 edition; in Nov., Alipay Wallet announced officially to become an independent brand seeking for development. As for telecom operators, CMPAY unveiled mobile phone payment cloud pos cashier in Oct.2013. When it comes to mobile phone card terminal, Lenovo announced to team up with Lakala to release customized mobile phone card reader.
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