On the evening of January 20th, third-party agency Iresearch released its latest mobile payment transaction size report. The report shows that in the third quarter of 2019, China’s third-party mobile payment transactions amounted to 56 trillion yuan, up 15.2% YoY, with Alipay Mobile Payment continuing to lead with 54.5% market share.
In the third quarter of 2019, Alipay’s market share was 54.5 percent, up 0.3 percent month-on-month, and has grown for three consecutive quarters this year, according to the data. Tencent’s Financial Paycom (including WeChat Pay) came in second, with a market share of 39.5% in the same period as the previous quarter. In the second quarter of this year, Caifupass’s market share fell 0.4 per cent.
Wallet fell three points, with a 1.5% market share, unchanged from the previous quarter.
According to the analysis, the growth of mobile payment transaction size has slowed year-on-year since 2018, but compared with the overall market, mobile smart terminal NFC and offline scanning payment are two strong growth points.
In the third quarter of 2019, china’s mobile smart terminal NFC payment transaction scale grew by 55.6% YoY, while the scale of offline sweeping payment transactions grew by about 7.8% YoY.