Mobile payments are near universal across use cases in China, thanks to high mobile penetration and the rise of a wallet duopoly that’s made them accessible, affordable, and convenient.
Mobile payments are near universal across use cases in China, thanks to high mobile penetration and the rise of a wallet duopoly that’s made them accessible, affordable, and convenient. Providers must duel for share of spend, rather than new users, but government crackdowns and a state-run alternative could shake up the market’s competitive structure.
3 KEY QUESTIONS THIS REPORT WILL ANSWER:
What trends are helping to accelerate growth in China’s mobile proximity and mobile peer-to-peer (P2P) payment market?
What market dynamics are driving consumer behavior trends, and how are they impacting providers’ revenues, competitive positioning, and performance?
How can providers tap into this growth to attract new users and boost engagement?
WHAT’S IN THIS REPORT? Factors driving consumer habits around proximity and P2P mobile payments, market dynamics affecting providers’ business performance in the space, and actionable steps providers can take to secure users and grow their mobile payment business in China.
KEY STAT: We expect the number of proximity mobile payment users in China will grow from 735.0 million to 796.4 million between 2021 and 2025.
Here’s what’s in the full report
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Table of Contents
Executive Summary
Key Points
Introduction
China Proximity Mobile Payments
China P2P Mobile Payments
Factors Shaping Mobile Payment Usage
Factors Impacting Mobile Payment Players’ Revenues
How Providers Can Capture Growth Within China’s Mobile Payment Market
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