DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/24e22a/china_thirdparty) has announced the addition of the "China Third-party Payment Industry Report, 2010-2013" report to their offering.
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.
Key Topics Covered:
1. Overview of Third-Party Payment
2. Market Environment of Third-Party Payment Industry
3. Market Analysis of Third-Party Payment Industry
4. Competition
5. Key Licensed Enterprises
6. Other Key Enterprises
7. Market Forecast of Third-Party Payment Industry
Companies Mentioned:
- Alipay
- TenPay
- 99Bill
- YeePay
- iPS
- Chinabank Payments
- ChinaPnR
- Shengpay
- All In Pay
- KuaiPay
- Beijing Digital Wangfujing Technology Ltd. Co.
- Property & Credit (Zihexin)
- Open Union
- Qiandai
- SmartPay
- Lakala
- Shanghai FFT Information Service Ltd.
- China UnionPay Merchant Services Co., Ltd.
- Beijing UnionPay
- ChinaPay
- PayEase
- Beijing Cloudnet Internet Co., Ltd.
- Union Mobile Pay (UMPay)
- BestPay
- 95epay
- Ecpss
For more information visit http://www.researchandmarkets.com/research/24e22a/china_thirdparty