Table of Contents
Executive Summary
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- Market developments
- Debit and credit cards
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- Figure 1: China – Total value of bank card transactions, 2009-19
- Online and mobile payments
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- Figure 2: China – Total online retail market value, 2009-19
- Key insights
- How well are people embracing new developments?
- Building regular payment habits is the most challenging task for all players to challenge Alipay
- Are people still putting more trust in banks to process their payments?
- Key trends
- Cam Cam: Big Data doesn’t have to be a Big Brother
- Life Hacking: Make my life easier
- Let’s Make A Deal: Empower people in every financial decision
- Leading players
- Leading credit card issuers
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- Figure 3: China – Debit and Credit Cards: Company market share by volume, 30 June, 2014
- Leading online third-party payment services
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- Figure 4: China – Estimated share of total third-party online transactions by leading player, 30 June, 2014
- The consumer
- Type of non-cash payments used
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- Figure 5: Type of non-cash payments used, August 2014
- Payment methods used for different purchases and services
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- Figure 6: Type of payments used for different transactions, August 2014
- Experience with third-party payment
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- Figure 7: Experience with different third-party payment service providers, August 2014
- Reasons for trying mobile payments
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- Figure 8: Reasons for trying mobile payment, August 2014
- Inconvenience experienced in online and mobile payment
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- Figure 9: Inconvenience experienced during online and mobile payment, August 2014
- Attitudes towards payment methods
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- Figure 10: Attitudes towards payment methods, August 2014
- What we think
Issues and Insights
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- How well are people embracing new developments?
- The facts
- The implications
- Building regular payment habits is the most challenging task for all players to challenge Alipay
- The facts
- The implications
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- Figure 11: Conversion and lapsed user rates of key payment service providers, August 2014
- Are people still putting more trust in banks to process their payments?
- The facts
- The implications
Trend Applications
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- Big Data doesn’t have to be a Big Brother
- Make my life easier
- Empower people in every financial decision
Recent Developments in Payments
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- Key points
- Credit and debit cards continue to proliferate
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- Figure 12: China – Total value of bank card transactions, 2009-19
- Figure 13: China – Total volume of bank cards issued, 2009-19
- Online and mobile shopping rise from virtually nothing to become a large slice of total retail
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- Figure 14: China – Total online retail market value, 2009-19
- Online payments key to electronic transaction growth
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- Figure 15: A Snapshot of online, telephone and mobile payment transaction scale in China, Q2 2014
- Consumer online retail spending growth most rapid via mobile
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- Figure 16: Online retail users, online spending and mobile online spending, 2011-14
- Credit and debit card usage continues to rise
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- Figure 17: Total number of bank cards by type, total and per card average annual transaction values, 2010-14
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- Figure 18: Average annual spend per capita by card users, 2010-14
- What does it mean?
Leading Payment Providers and Innovators
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- Key points
- State-owned banks dominate the cards business
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- Figure 19: China – Debit and Credit Cards: Company market share by volume, 30 June, 2014
- Agric Bank dominates debit card and ICBC dominates credit card issuing
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- Figure 20: China – Top 5 card issuing banks by numbers of debit and credit cards issues, June 30, 2014
- Top three banks dominate total card spending
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- Figure 21: China – Top 5 card issuing banks by total value of debit and credit card spending, June 30, 2014
- Figure 22: China – Top 5 card issuing banks by average value of spending per debit and credit card, June 30, 2014
- Leading third-party service providers dominated by Alipay
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- Figure 23: China – Estimated share of total third-party online transactions by leading player, 30 June, 2014
- How key third-party players are innovating?
- What does it mean?
The Consumer – Type of Non-Cash Payments Used
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- Key points
- Almost all netizens surveyed had used online payments
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- Figure 24: Type of non-cash payments used, August 2014
- Yet half of the consumers haven’t used mobile payment
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- Figure 25: Mobile payment usage over past six months, by age, August 2014
- Card payment varies by age
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- Figure 26: Credit and debit card usage over the past six months, by age group, August 2014
- Payment preferences vary by city
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- Figure 27: Credit and debit card usage over the past six months, by city, August 2014
- Pre-paid card preferences vary by city
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- Figure 28: Gift card/coupon and prepaid card usage over the past six months, by city, August 2014
- What does it mean?
The Consumer – Payment Methods Used for Different Purchases and Services
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- Key points
- Cash remains king for everyday purchases
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- Figure 29: Type of payments used for different transactions, August 2014
- The demographics of purchase habit, confidence and convenience
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- Figure 30: Type of payments used for different transactions, by gender and age group, August 2014
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- Figure 31: Type of payments used for different transactions, by monthly household income group, August 2014
- Online payments not just focused in tier one cities
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- Figure 32: Type of payments used for different transactions, by city, August 2014
- What does it mean?
The Consumer – Experience with Third-Party Payment
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- Key points
- Alipay dominates third-party payment service providers
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- Figure 33: Experience with different third-party payment service providers, August 2014
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- Figure 34: Awareness, usage, lapsed and conversion rates of different third-party payment service providers, August 2014
- Third-party payment service current and lapsed users by demographics
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- Figure 35: Lapsed usage rate of different third-party payment service providers, by gender and age group, August 2014
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- Figure 36: Lapsed usage rate of different third-party payment service providers, by monthly household income group, August 2014
- Customer retention varies by city and service provider
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- Figure 37: Lapsed usage rate of different third-party payment service providers, by city, August 2014
- What does it mean?
The Consumer – Reasons for Trying Mobile Payments
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- Key points
- Convenience drives mobile payment uptake
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- Figure 38: Reasons for trying mobile payment, August 2014
- Differences in mobile payment uptake by demographic group
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- Figure 39: Reasons for trying mobile payment, by gender and age group, August 2014
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- Figure 40: Reasons for trying mobile payment, by monthly household income group, August 2014
- Differences in mobile payment uptake by location
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- Figure 41: Reasons for trying mobile payment, by city, August 2014
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- Figure 42: Reasons for trying mobile payment, by city, August 2014 (continued)
- What does it mean?
The Consumer – Inconvenience Experienced in Online and Mobile Payment
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- Key points
- Key sticking points to consumer adoption of mobile payments
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- Figure 43: Inconvenience experienced during online and mobile payment, August 2014
- Inconveniences experienced by demographic group
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- Figure 44: Inconvenience experienced during online and mobile payment, by detailed age group, August 2014
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- Figure 45: Inconvenience experienced during online and mobile payment, by gender and age group, August 2014
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- Figure 46: Inconvenience experienced during online and mobile payment, by monthly household income group, August 2014
- Inconveniences experienced differ by city…
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- Figure 47: Inconvenience experienced during online and mobile payment, by city, August 2014
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- Figure 48: Inconvenience experienced during online and mobile payment, by city, August 2014 (Continued)
- …And by provider
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- Figure 49: Inconvenience experienced during online and mobile payment, by Experience with different third-party payment service providers, August 2014
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- Figure 50: Inconvenience experienced during online and mobile payment, by Experience with different third-party payment service providers, August 2014 continued)
- What does it mean?
The Consumer – Attitudes towards Payment Methods
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- Key points
- Attitudes towards future opportunities
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- Figure 51: Attitudes towards future opportunities in payment methods, August 2014
- Attitudes towards security
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- Figure 52: Attitudes towards security in payment methods, August 2014
- Attitudes towards choice of payment
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- Figure 53: Attitudes towards choice of payment in payment methods, August 2014
- Attitudes towards changes
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- Figure 54: Attitudes towards changes in payment methods, August 2014
- Attitudes by demographic groups
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- Figure 55: Attitudes towards payment methods, by detailed age group, August 2014
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- Figure 56: Attitudes towards payment methods, by gender and broad age group, August 2014
- Attitudes by income groups
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- Figure 57: Attitudes towards payment methods, by monthly household income group, August 2014
- Attitudes by user groups
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- Figure 58: Attitudes towards payment methods, by electronic payment experience, August 2014
- Attitudes by cities
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- Figure 59: Attitudes towards payment methods, by city, August 2014
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- Figure 60: Attitudes towards payment methods, by city, August 2014 (continued)
- What does it mean?
Appendix – Market Size
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- Forecast bank card transaction value and card issuance volume
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- Figure 61: China – Total bank card transaction value and card issuance volume, 2009-19
- Forecast online and mobile retail sales
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- Figure 62: China – Total online retail value and annual growth, 2009-19
Appendix – Payment methods used
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- Figure 63: Type of non-cash payments used, August 2014
- Figure 64: Most popular type of non-cash payments used, by demographics, August 2014
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- Figure 65: Next most popular type of non-cash payments used, by demographics, August 2014
- Repertoire analysis
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- Figure 66: Repertoire of type of non-cash payments used, August 2014
- Figure 67: Repertoire of Type of non-cash payments used, by demographics, August 2014
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- Figure 68: Type of non-cash payments used, by repertoire of type of non-cash payments used, August 2014
- Figure 69: Type of payments used for different transactions, August 2014
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- Figure 70: Type of payments used for different transactions – Buying everyday groceries, by demographics, August 2014
- Figure 71: Type of payments used for different transactions – Buying household appliances/digital products, by demographics, August 2014
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- Figure 72: Type of payments used for different transactions – Eating at a restaurant, by demographics, August 2014
- Figure 73: Type of payments used for different transactions – Paying utility bills, by demographics, August 2014
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- Figure 74: Type of payments used for different transactions – Booking travel, by demographics, August 2014
- Figure 75: Type of payments used for different transactions – Topping up mobile phone, by demographics, August 2014
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- Figure 76: Type of payments used for different transactions – Buying entertainment tickets, by demographics, August 2014
- Figure 77: Type of payments used for different transactions – Paying for a taxi, by demographics, August 2014
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- Figure 78: Type of payments used for different transactions – Paying for beauty treatment, by demographics, August 2014
- Figure 79: Type of payments used for different transactions – Buying clothes and accessories, by demographics, August 2014
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Appendix – Experience with third-party payment
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- Figure 80: Experience with different third-party payment service providers, August 2014
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- Figure 81: Experience with different third-party payment service providers – 99bill, by demographics, August 2014
- Figure 82: Experience with different third-party payment service providers – Alipay, by demographics, August 2014
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- Figure 83: Experience with different third-party payment service providers –Baidu Wallet, by demographics, August 2014
- Figure 84: Experience with different third-party payment service providers – China PnR, by demographics, August 2014
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- Figure 85: Experience with different third-party payment service providers – Lakala, by demographics, August 2014
- Figure 86: Experience with different third-party payment service providers – Qiandai, by demographics, August 2014
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- Figure 87: Experience with different third-party payment service providers – Tenpay, by demographics, August 2014
- Figure 88: Experience with different third-party payment service providers – UnionPay online payment, by demographics, August 2014
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- Figure 89: Experience with different third-party payment service providers – Yeepay, by demographics, August 2014
- Figure 90: Experience with different third-party payment service providers – Suning Yifubao, by demographics, August 2014
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- Figure 91: Experience with different third-party payment service providers – Other online third-party payment platform^, by demographics, August 2014
- Repertoire analysis
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- Figure 92: Repertoire of Experience with different third-party payment service providers in the last six months, August 2014
- Figure 93: Repertoire of Experience with different third-party payment service providers in the last six months, by demographics, August 2014
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Appendix – Reasons for trying mobile payment
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- Figure 94: Reasons for trying mobile payment, August 2014
- Figure 95: Reasons for trying mobile payment, by demographics, August 2014
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Appendix – Inconvenience in Online and Mobile Payment
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- Figure 96: Inconvenience experienced during online and mobile payment, August 2014
- Figure 97: Most popular inconvenience experienced during online and mobile payment, by demographics, August 2014
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- Figure 98: Next most popular Inconvenience experienced during online and mobile payment, by demographics, August 2014
- Figure 99: Inconvenience experienced during online and mobile payment, by experience with different third-party payment service providers – 99bill, August 2014
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- Figure 100: Inconvenience experienced during online and mobile payment, by experience with different third-party payment service providers – Alipay, August 2014
- Figure 101: Inconvenience experienced during online and mobile payment, by experience with different third-party payment service providers – Baidu Wallet, August 2014
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- Figure 102: Inconvenience experienced during online and mobile payment, by experience with different third-party payment service providers – China PnR, August 2014
- Figure 103: Inconvenience experienced during online and mobile payment, by experience with different third-party payment service providers – Lakala, August 2014
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- Figure 104: Inconvenience experienced during online and mobile payment, by experience with different third-party payment service providers – Qiandai, August 2014
- Figure 105: Inconvenience experienced during online and mobile payment, by experience with different third-party payment service providers – Tenpay, August 2014
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- Figure 106: Inconvenience experienced during online and mobile payment, by experience with different third-party payment service providers – UnionPay online payment, August 2014
- Figure 107: Inconvenience experienced during online and mobile payment, by experience with different third-party payment service providers – Yeepay, August 2014
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- Figure 108: Inconvenience experienced during online and mobile payment, by experience with different third-party payment service providers – Suning Yifubao, August 2014
- Figure 109: Inconvenience experienced during online and mobile payment, by experience with different third-party payment service providers – Other online third-party payment platform^, August 2014
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Appendix – Attitudes towards Payment Methods
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- Figure 110: Attitudes towards payment methods, August 2014
- Figure 111: Attitudes towards payment methods – Future opportunities, by demographics, August 2014
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- Figure 112: Attitudes towards payment methods – Security, by demographics, August 2014
- Figure 113: Attitudes towards payment methods – Choice of payment, by demographics, August 2014
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- Figure 114: Attitudes towards payment methods – Attitudes towards changes, by demographics, August 2014
- Figure 115: Attitudes towards payment methods, by most popular experience with different third-party payment service providers in the last six months, August 2014
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- Figure 116: Attitudes towards payment methods, by next most popular experience with different third-party payment service providers in the last six months, August 2014
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