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Iresearch: Q1 2015 China third-party mobile payment GMV Skyrockets by 139.2%
Q1 2015 China third-party mobile payment GMV Skyrockets by 139.2% – Views – iResearch Consulting Group// <![CDATA[ var _gaq = _gaq || []; _gaq.push(['_setAccount', 'UA-5707932-1']); _gaq.push(['_trackPageview']);
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According to iResearch, China third-party mobile payment GMV hit 2,001,560 million Yuan in Q1 2015, up 139.2% from a year earlier and increasing 11.7% from the previous quarter.
Mobile payment GMV maintained stable growth
The rapid growth of China third-party mobile payment GMV levelled off in Q1 2015 compared with Q1 2014, which was attributed to the following aspects: On the one hand, Seasonal explosion of payment scenarios like red envelop brought about rise of user base and improved users’ stickiness. On the other hand, various payment scenarios set up by apps from mobile device increased and overall users’ payment behaviors were formed. Looking back to Q1 2014, third-party mobile payment enterprises attached great importance to mobile internet payment, grandly launching scenario applications like taxi-hailing via mobile device and delivering red envelop. Individual user gradually got used to mobile internet payment, showing tendency of shifting from PC payment to mobile payment. Coming to Q1 2015, users have stuck to mobile payment, driven by some offline scenarios and delivering red envelop, and user base indicated long-tail tendency. Therefore, mobile payment GMV and user base saw huge growth in Q1 2015 compared with Q1 2014.
Alipay and Tenpay expanded long-tail users through red envelop during Spring Festival.
In Q1 2015, Alipay occupied 77.1% of the third-party mobile payment and Tenpay accounted for 13.5%. The both, as a whole, occupied 90.7% of China third-party mobile payment market. And such internet enterprises enjoyed absolute advantage in the market in the era of mobile payment for possessing huge user base and using scenarios. In this quarter, Alipay and Tenpay accumulated long-tail users by scenarios like delivering red envelop in WeChat, therefore, the number and stickiness of users increased obviously.
In Q1 2015, other players in third-party mobile payment made big progress by developing different business. With the rising of various applications in mobile internet, in-app payment enterprises like umpay and lianlianpay developed very fast.Depending on the characteristics of parent companies, bestpay and Ping An Pay also went through rapid development. Facing both opportunities and challenges in Q1 2015, China’s third-party mobile payment market structure will probably experience some changes.
