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Description

China is home to the largest mobile network in the world, with millions of new users added every month. In the past ten years, Chinese consumers have widely adopted electronic payment services, including bankcards, online payment, and contactless smartcards. The convergence of the mobile and e-payment industries is creating numerous opportunities for new services and inter-industry partnerships.

In the first edition of our Mobile Payment in China report in 2006, we noted that despite no shortage of optimism and investment, China simply wasn't ready for mobile payments. In subsequent editions we regretfully came to similar conclusions, even as online payment, bankcard usage, and other forms of e-payment flourished. As 2013 comes to an end, however, it is clear the situation has changed. While many familiar obstacles to development remain, there are real reasons and evidence that m-payment is indeed poised to take off. Heading into 2014, we are, for the first time, optimistic about China's mobile payment and m-commerce markets.

Table Of Contents

Maverick Analysis: Key Factors Shaping the Future of Mobile Payment in China
1 Defining Mobile Payment
2 A Late Start to Electronic Payments
3 Government Regulations and Payment Licenses
4 Consumers Still Paying with Cash (but Less)
5 Bankcards Issued: 3.5 Billion
6 Mobile Users in China
7 Mobile Internet Users: 420 million
8 Third-Party Payment Remains the Channel of Choice
9 Taobao and the Dominance of the Alibaba Group

List of Figures

Figure 1: Total Use of Debit, Credit, and Cash-On-Delivery in Online Shopping
Figure 2: China Bankcard Circulation, 2002-2015 (M)
Figure 3: China's Credit Card Circulation, 2002-2015 (M)
Figure 4: Mobile Users in China, 2001-2015 (M)
Figure 5: 3G Users in China, 2001-2015 (M)
Figure 6: Internet Users in China, 2001-2015 (M)
Figure 7: Mobile Internet Users in China, 2005-2015 (M)
Figure 8: Accounts Held by Online Shoppers in China
Figure 9: Online Shopper Payment Provider Recognition 2013

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ref:plp2014

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