The China Payments Market Report is Segmented by Mode of Payment (Point of Sale [Debit Card Payments, Credit Card Payments, A2A Payments, and More], Online Sale [Debit Card Payments, Credit Card Payments, A2A Payments, Digital Wallet, and More]) and End-User Industry (Retail, Entertainment, Hospitality, Healthcare, and More). The Market Forecasts are Provided in Terms of Value (USD).

In 2018, the market share of mobile payments in China accounted for ** percent of all payments, indicating an explosive growth from *** percent in 2011. Payment app market was booming in China. Around ** percent of population in China's biggest cities chose Wechat Pay or Alipay as their main means of payment.

As of June 2025, the adoption rate of mobile payment among the mobile internet users in China was ** percent, representing a user base of ***** million. In urban areas, the mobile payment penetration rate reached also a high level.

The China Payment Gateway Market Report is Segmented by Type (Hosted, Non-Hosted, Platform-Based Super-App Gateways and More), Enterprise Size (Micro, Small, Medium, and More), End-User Industry (Retail and E-Commerce, Travel and Hospitality and More), Payment-Method Integration (Digital Wallets, and More), Deployment Environment (Mobile-App SDK, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Gain a competitive edge with comprehensive insights on the China, Vietnam, Philippines, Indonesia, Japan, Cards Payment Market—covering demand trends, technological advances, and forecasts till 2032. MarkNtel Advisors.

Alibaba and Tencent controlled over ** percent of the Chinese mobile payment market in the fourth quarter of 2022. Union Pay Merchant Service is a third-party payment processing service that also processes payments from other third-party payment providers. For instance, their payment terminals were used in shops and restaurants.

China Cards and Payments Market growth is driven by increasing digital adoption, regulatory support, and advancements in payment security technologies.

Wallets took up roughly ** percent of POS transaction value in China, caused by the popularity of QR codes within the country. The share of cash, on the other hand, declined to roughly five percent of all money spent in-store. The use of super apps like WeChat introduced consumers in China sooner to QR codes than people elsewhere in the world.

China Fintech Market size was valued at $ 4.20 Tn in 2024 and is expected to reach $ 13.49 Tn by 2032, growing at a CAGR of 15.7% from 2026 to 2032The rapid expansion of the China fintech market is primarily driven by the growing integration of advanced technologies such as artificial intelligence and blockchain into financial services, which facilitates innovation and efficiency.

Snapshot img

Mobile Payments Market Size 2025-2029

The mobile payments market size is forecast to increase by USD 228.06 billion, at a CAGR of 33.4% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing number of online transactions and the growing emergence of mobile apps for shopping transactions. This trend is fueled by the convenience and accessibility that mobile payments offer to consumers, enabling seamless and quick transactions from anywhere at any time. However, this market is not without challenges. Privacy and security concerns continue to pose significant obstacles, as consumers remain wary of sharing sensitive financial information over mobile devices. Ensuring robust security measures and maintaining transparency regarding data usage are crucial for companies seeking to build trust and gain market share in this competitive landscape. Navigating these challenges while capitalizing on the market's opportunities requires a strategic approach, with a focus on innovation, user experience, and trust-building initiatives. Companies that can effectively address privacy and security concerns while providing a seamless mobile payment experience are poised to succeed in this dynamic market.

What will be the Size of the Mobile Payments Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, with dynamic market dynamics shaping its applications across various sectors. In-app payments and contactless transactions are gaining popularity, enhancing user experience (UX) and streamlining merchant services. Cross-border payments and mobile money transfers are becoming increasingly common, driving financial inclusion and customer loyalty. Blockchain technology and digital wallets are transforming the landscape, offering instant payments, lower transaction costs, and enhanced security through data encryption and two-factor authentication. Merchants and businesses are integrating payment APIs, virtual cards, and payment gateways to accept various payment methods, ensuring PCI DSS compliance and seamless transaction processing. Consumer behavior is a crucial factor, with the preference for mobile banking and e-commerce payments continuing to rise. Adoption rates are influenced by user interface (UI) design, transaction speed, and real-time payments. Market penetration is further boosted by loyalty programs and mobile ticketing. Risk management, customer data protection, and dispute resolution are essential components, with maintenance contracts, integration platforms, and security protocols ensuring smooth operations. Biometric authentication and digital signatures offer added security, while compliance regulations and technical support address the evolving needs of the market. In the ever-changing mobile payments landscape, the focus remains on providing efficient, secure, and customer-centric solutions, ensuring continuous growth and innovation.

How is this Mobile Payments Industry segmented?

The mobile payments industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. LocationRemote paymentProximity paymentTypeMoney transfersMerchandise purchasesBill paymentsOthersTechnologyNear field communicationRadio frequency identification (RFID)Host card emulation (HCE)Biometric authentication-based paymentsDistribution ChannelPeer-to-peer (P2P) paymentsConsumer-to-business (C2B) paymentsBusiness-to-business (B2B) paymentsGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSouth KoreaRest of World (ROW)

By Location Insights

The remote payment segment is estimated to witness significant growth during the forecast period.Mobile payments have revolutionized the way transactions are conducted, with various entities shaping its dynamics and trends. Cross-border payments and in-app purchases have gained popularity due to their convenience and speed. User interface and user experience are crucial factors, ensuring seamless transactions. Merchant services facilitate acceptance of these payments, often incurring transaction costs. Contactless payments, such as those using NFC technology, have surged due to heightened security concerns. Blockchain technology and digital wallets are driving adoption rates, enhancing customer loyalty. QR codes and instant payments offer swift transaction processing, while data encryption and customer data protection ensure security. Mobile banking, loyalty programs, and e-commerce payments are increasingly integrated, offering a multitude of benefits. Mobile money transfer, two-factor authentication, and payment APIs further streamline transactions. Consumer behavior i

USD 568.97 Million in 2024; projected USD 1508.69 Million by 2033; CAGR 11.51%.

The global cards and payments market is booming, projected to reach [estimated 2033 market size] by 2033, fueled by digital payments, e-commerce growth, and fintech innovation. Discover market trends, key players (Visa, Mastercard, etc.), and regional insights in this comprehensive market analysis.

The number of users in the 'Digital Payments' segment of the fintech market in China was forecast to continuously increase between 2024 and 2028 by in total ***** million users (+***** percent). After the tenth consecutive increasing year, the indicator is estimated to reach *** billion users and therefore a new peak in 2028. Notably, the number of users of the 'Digital Payments' segment of the fintech market was continuously increasing over the past years. The Statista Market Insights cover a broad range of additional markets.

Discover the explosive growth of the Digital RMB market, projected to surpass $100 billion by 2033. This comprehensive analysis explores market drivers, trends, restraints, and regional breakdowns, highlighting key players like ICBC and Alipay. Learn about the opportunities and challenges shaping the future of digital currency in China and beyond.

China Central Bank Bill: Payment: 3 year data was reported at 10,000.000 RMB mn in 12 Nov 2013. This records an increase from the previous number of 5,900.000 RMB mn for 29 Oct 2013. China Central Bank Bill: Payment: 3 year data is updated daily, averaging 22,500.000 RMB mn from Apr 2010 (Median) to 12 Nov 2013, with 32 observations. The data reached an all-time high of 160,000.000 RMB mn in 16 Jul 2010 and a record low of 1,000.000 RMB mn in 19 Aug 2011. China Central Bank Bill: Payment: 3 year data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under China Premium Database’s Money and Banking – Table CN.KA: Open Market Operation: Daily.

China’s payment gateway industry is expected to grow at more than 18.12% CAGR from 2025 to 2030, fueled by government regulation, digital innovation, and the rapid expansion of e-c

Real-Time Payments Market Outlook

According to our latest research, the Global Real-Time Payments market size was valued at $29.5 billion in 2024 and is projected to reach $137.2 billion by 2033, expanding at a robust CAGR of 18.5% during the forecast period of 2024–2033. One of the primary drivers fueling this impressive growth trajectory is the accelerated digital transformation across financial services and adjacent sectors, driven by increasing consumer demand for instantaneous, secure, and seamless payment experiences. Real-time payments (RTP) are revolutionizing the global payments landscape, enabling money transfers to be initiated, cleared, and settled within seconds, 24/7. This capability is not only enhancing user convenience but also fostering innovation in business models, reducing operational costs, and supporting financial inclusion efforts worldwide. The convergence of advanced payment technologies, evolving regulatory frameworks, and the proliferation of mobile devices is further amplifying the adoption and integration of real-time payments across diverse industry verticals and geographies.

Regional Outlook

North America continues to dominate the Real-Time Payments market, accounting for the largest market share in 2024 with a value of approximately $10.1 billion. This region’s leadership is underpinned by its mature financial ecosystem, high penetration of digital banking services, and robust regulatory support for payment innovation. The United States, in particular, has witnessed rapid adoption of real-time payment platforms such as The Clearing House’s RTP network and the Federal Reserve’s FedNow initiative, both of which have set new benchmarks in payment speed and reliability. Canada is also strengthening its real-time payment infrastructure through initiatives like Payments Canada’s Real-Time Rail. These advancements, coupled with strong investments from both incumbents and fintech disruptors, have solidified North America’s position as a global hub for real-time payment solutions, fostering innovation and driving operational efficiencies for businesses and consumers alike.

The Asia Pacific region is emerging as the fastest-growing market for real-time payments, projected to expand at a remarkable CAGR of 22.3% between 2024 and 2033. This explosive growth is driven by the region’s large unbanked population, rapid urbanization, and widespread adoption of smartphones and digital wallets. Countries such as China, India, and Singapore are at the forefront, leveraging government-backed initiatives like India’s Unified Payments Interface (UPI) and China’s Interbank Payment System (CIPS) to facilitate instant, low-cost transactions at scale. The dynamic fintech ecosystem in Southeast Asia, coupled with increasing cross-border e-commerce activity, is further accelerating the uptake of real-time payments. Strategic investments in payment infrastructure and collaborative efforts among regulators, banks, and technology providers are enabling Asia Pacific to leapfrog legacy systems and set new standards for digital financial services.

In emerging economies across Latin America, the Middle East, and Africa, the adoption of real-time payments is gaining momentum, albeit at a more gradual pace due to infrastructural, regulatory, and socio-economic challenges. In Latin America, countries like Brazil and Mexico are making significant strides with the launch of platforms such as Pix and CoDi, respectively, which are driving financial inclusion and supporting digital commerce growth. In Africa, mobile money solutions and government-led initiatives are gradually bridging the gap between traditional banking and digital payments. However, challenges related to interoperability, cybersecurity, and consumer awareness persist, necessitating targeted policy interventions and investments in digital literacy. These markets represent significant untapped potential, with localized demand for secure, accessible, and cost-effective payment solutions likely to drive future growth as ecosystem maturity improves.

Report Scope

China Central Bank Bill: Payment: 3 month data was reported at 2,000.000 RMB mn in 21 Jun 2013. This stayed constant from the previous number of 2,000.000 RMB mn for 19 Jun 2013. China Central Bank Bill: Payment: 3 month data is updated daily, averaging 20,000.000 RMB mn from Jan 2009 (Median) to 21 Jun 2013, with 151 observations. The data reached an all-time high of 160,000.000 RMB mn in 26 Mar 2010 and a record low of 1,000.000 RMB mn in 23 Dec 2011. China Central Bank Bill: Payment: 3 month data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under China Premium Database’s Money and Banking – Table CN.KA: Open Market Operation: Daily.

Discover the explosive growth of the face-swiping payment market! This in-depth analysis reveals key trends, market size projections, major players (Alibaba, Tencent, JD.com), and regional breakdowns for 2025-2033. Learn about drivers, restraints, and future opportunities in this rapidly evolving sector.

Discover the explosive growth of the Digital RMB market. This in-depth analysis explores market size, CAGR, key drivers, trends, and regional segmentation, including China's dominance and global expansion potential. Learn about leading banks involved and the future of CBDCs.