London, 17 September 2014 – TechNavio, a global tech-focused research firm has announced the publication of its market research report on the Mobile Payment Market in China 2014-2018.
Mobile payment is a popular form of financial transaction that transforms the payment experience by seamlessly merging online and offline shopping. It simplifies the transaction process and enhances payment security.
The latest report by TechNavio focuses on market conditions contributing to a CAGR of 113.41 percent in terms of volume during the forecast period. The report highlights increasing third party payment (TPP) providers that are preferred over traditional financial service providers like China UnionPay and China Mobile. Most of the TPP providers are focusing on remote payment and delivering services through three models: Wallet, Gateway and Quick Payment.
“TPP providers are increasingly becoming the preferred mobile payment options. They are the strongest promoters of mobile payment services in China and rely on a network of partnerships with banks, merchants and mobile operators. They provide a wide variety of payment services that support a huge variety of application scenarios,” says Faisal Ghaus, Vice President of TechNavio.
Key Information Covered in the Report:
Market segmentation, size and forecast through 2018
Market Growth Drivers:
- Rapid Growth of e-Commerce
- For a full detailed list, view our report.
Market Challenges:
- Security Concerns
- For a full detailed list, view our report.
Market Trends:
- Rise in Formation of Partnerships
- For a full detailed list, view our report.
Key Vendors:
- Alipay.com Co. Ltd
- Beijing LaKala Billing Services Co. Ltd
- Tenpay Inc.
- YeePay Co. Ltd.
Other Prominent Vendors:
- 99bill
- Baidu
- China UnionPay
- PayPal
- Qiandaibao
- Union Mobile Pay
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