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ResearchinChina.com Publishes China Third-party Payment 2010-2013 Industry Report - ResearchInChina, the vertical portal for Chinese business intelligence, announces the release of a new report –China Third-party Payment Industry Report, 2010-2013
ResearchinChina.com Publishes China Third-party Payment 2010-2013 Industry Report

 

NewswireToday - /newswire/ - Beijing, China, 2011/09/13 - ResearchInChina, the vertical portal for Chinese business intelligence, announces the release of a new report –China Third-party Payment Industry Report, 2010-2013.

   
 
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Third-party payment refers to an Internet-based means of exchange that provides online (Internet) and offline (telephone & mobile phone) payment channels enabling user-to-merchant online payment, fund settlement, inquiries and statistics, etc.

In 2010, market transaction volume of third-party payment broke through RMB 1 trillion and registered RMB 1.1395 trillion in China. However, third-party payment market is still in its infancy stage and is expected to develop rapidly in the next several years.

People’s Bank of China issued “Regulation on Payment Service of Non-financial Organization” on 14 Jun. 2010, with the aim to officially supervise the domestic third-party payment industry. On 26 May 2011, People’s Bank of China granted the first batch of “Payment Transaction License” to 27 third-party payment companies including Alipay, Tenpay, ChinaPay and 99Bill. In terms of market share, the top three third-party payment service providers in China are Alipay, Tenpay and ChinaPay.

Alipay: Alipay is a third-party payment platform that belongs to Alibaba group. As of Dec. 2010, its number of registered users broke through 550 million, and daily transaction value reached RMB 2.6 billion and daily number of transactions hit 11 million. It is expected that the annual transaction value of Alipay will achieve about RMB 1 trillion in each of the next two years.

TenPay: As Tencent’s third-party payment platform, TenPay accumulated 150 million personal users and over 400 thousand cooperative merchants till Dec. 2010.

ChinaPay: ChinaPay is a third-party payment service provider with diversified business. Its business growth is mainly driven by those monopolistic fields including fund and insurance online payment. However, this monopolistic advantage is gradually diminished. In addition, with limited investment, online payment service is not the core business of ChinaPay, and its competitiveness is weak.

99Bill: As of 30 Apr. 2011, with transaction volume over RMB 100 billion, 99bill has 91 million registered users and over 980 thousand business partners. During 2008-2009, 99Bill shifted its major business to the segment markets, including insurance and fund industries, to get involved in the differential competition.

YeePay: YeePay is an integrated payment platform. Till 26 Nov. 2010, with over 10 thousand large and medium signed merchants, its daily transaction volume and number of transactions exceeded RMB200 million and 1 million respectively. Moreover, YeePay plays a leading role in the telephone payment market. During 2008-2010, it experienced rapid development in the fields of aviation, telecommunication and education.

Chinabank Payments: The lower online payment price is the key competitive advantage of Chinabank Payments. In addition, its offline credit card payment business has the early entry advantage.

Shengpay: With a registered capital of RMB250 million and about 250 employees, Shengpay is an independent third-party payment service provider belongs to Shanda Group. It provides payment solution for Shanda’s business including literature, music, film, recreation and tourism.

All In Pay: Headquartered in Shanghai, All In Pay possesses registered capital of RMB 1.36 billion. Its main services include offline payment for POS machine, online payment service, telephone payment through call center, and payment service for other self-service terminal equipment.

Qiandai: Qiandai has registered capital of RMB 100 million and over 300 employees. In the field of mobile payment, backed by its technical R&D strength, Qiandai has developed QDSIM expansion card, a smart card chip product with full intellectual property rights.

About Lakala
Founded in 2005, Lakala is a member enterprise of Lenovo Holdings with accumulative investment of RMB 350 million. As of Jan. 2011, it had 38 branches and offices in total, with over 1000 employees. Currently, Lakala has set up approximately 50 thousand convenient payment sites in over 230 cities, and can be found in over 50 thousand offices and 100 thousand households. Moreover, at present, the number of Lakala’s convenient payment sites is 3 times of the number of post offices.

 
 
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ResearchinChina.com Publishes China Third-party Payment 2010-2013 Industry Report

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