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January 14, 2014updated 04 Apr 2017 4:09pm

Mobile payments in China nearly triple between Q2 and Q3 2013

Mobile payments nearly tripled between Q2 and Q3 of 2013, according to data released by Analysys International.

By Angelo Boccato

Mobile payments nearly tripled between Q2 and Q3 of 2013, according to data released by Analysys International.

 

According to a report from the research firm, mobile payments in China nearly tripled to CNY334bn in the third quarter from the quarter before and e-payment giant Alipay’s market share was 64.4%.

 

Shanghai residents spent an average of CNY31,000 ($5,100) last year through Alipay, a third-party payment service, according to data released on 13 January.

 

The expenditure accounted for 9.3% of the total spending in the whole China, according to Alipay, which was founded by China’s largest e-commerce company Alibaba.

 

The Guangdong province leads the ranking in total online spending, with expenditure by residents there contributing 15.99%. According to Alipay, Zhejiang, Beijing, Shanghai and Jiangsu follow Guangdong province in the ranking.

 

Mobile payments have jumped in 2013 following the more than five times increase of the number of Alipay users. During the one-day online shopping carnival on November 11, the so-called Single’s Day, Alipay recorded 188m transactions and 24% of the purchases were via mobile devices.

 

Qinghai Yushu Autonomous Prefecture notched the highest ratio among other counties or cities for purchases via mobile devices. According to Alipay lower-tier cities have an higher adoption of mobile payment because of low broad-band connection coverage.

 

 

Related articles:

China Mobile, UnionPay agree on standards for NFC-based mobile payment systems

MoneyGram, PSBC sign deal to offer money transfer services in China

Online retail giant Alibaba bans sale of Bitcoin

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