********************************************************** and ************* are the top two answers among Chinese consumers in our survey on the subject of "Most common online payments by type".The survey was conducted online among 6,425 respondents in China, in 2025. Looking to gain valuable insights about online payment users across the globe? Check out our reports about consumers of online payment brands worldwide. These reports provide readers with a detailed understanding of customers of online payment brands: their profiles, preferences, opinions, and how to effectively connect with them.

Online payment usage doubled in China in the recent decade. In June 2025, around ** percent of internet users in China had used online payment services. The steepest growth was recorded in 2020 when the COVID-19 pandemic took place.

The China payment gateway market is booming, projected to reach $3.19 billion by 2025, with a 20.28% CAGR. Driven by e-commerce growth and mobile payments, this market is dominated by Alipay and WeChat Pay, yet presents opportunities for specialized players. Learn about market trends, key players, and future growth projections in this comprehensive analysis. Recent developments include: June 2024: XTransfer, a China-based B2B cross-border payment platform, forged a strategic alliance with Banking Circle, a forward-thinking, tech-centric Payments Bank. This partnership is set to streamline cross-border payments for XTransfer's clientele, with a keen focus on aiding Chinese suppliers targeting major markets in Europe and the Middle East. The collaboration is expected to cut down both the costs and processing times associated with these transactions.April 2024: Ant Group, in collaboration with 11 overseas payment partners of Alipay+ and international card organizations, unveiled a nationwide initiative in Beijing. This program, backed by relevant authorities and local governments, seeks to establish internationally friendly consumer zones in key tourist and commercial cities across China. By partnering with local merchants, tourist attractions, and commercial districts, the initiative aims to elevate the experience of international visitors while boosting business for local merchants.. Key drivers for this market are: Growing E-Commerce and Mobile Commerce, Government Support for Digital Payments; Growing Adoption of Payment Gateways in Retail. Potential restraints include: Growing E-Commerce and Mobile Commerce, Government Support for Digital Payments; Growing Adoption of Payment Gateways in Retail. Notable trends are: Growing Use of Payment Gateways in Retail Sector in China.

As of June 2025, China reported having 11.6 million new mobile internet users from the previous year, totaling 1.12 billion people having access to the internet via mobile devices. A mobile-first country Mobile internet refers to accessing the internet via any mobile device connected to a wireless network. China’s registered internet users account for a fifth of the world’s total, and its mobile internet users almost doubled in the last decade. According to the China Internet Network Information Center (CNNIC), the share of Chinese users accessing the internet via mobile phone has already surpassed that via PC since 2014. Smartphone usage in China The rapid growth in smartphone and tablet user numbers has boosted mobile internet use in China. The projections indicate that over 80 percent of the Chinese population will possess a smartphone by 2026. Chinese users spent on average over seven hours each day on mobile internet. Video streaming apps and social networking were the most commonly visited services, accounting for 60 percent of the user time.

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).

As of June 2025, around 1,022 million people used mobile payments in China, **** million more users compared to the previous year. After the growth rate of new users began to taper off after 2017, the outbreak of COVID-19 caused an influx of many new users. Digital money over hard cash Two companies have completely changed commerce in China. Alibaba and Tencent are the two main providers of mobile payments in the country with their platforms WeChat Pay and Alipay. A high penetration rate of mobile phones and the popularity of e-commerce have aided the popularization and adaption of mobile payments. Today, mobile payments are the primary vehicle to transfer money. The next step After payments have become digital, the currency is going to become digital next. In 2017, the Chinese government greenlighted the plans of the country’s central bank to develop a digital currency. Since 2020, the Digital Yen was slowly rolled out to the public through several testing circles. According to the People’s Bank of China, a digital currency would help regulators to reduce money laundering, corruption, and other illicit activities.

China Payments Market size was valued at USD 40.27 Trillion in 2024 and is projected to reach USD 80 Trillion by 2032, growing at a CAGR of 8.39.% from 2026-2032.

China Payments Market: Definition/ Overview

Digital payments are the electronic transfer of money for products and services, which eliminates the need for cash transactions. These systems use mobile apps, internet platforms, and digital wallets to enable consumers to pay rapidly and securely using their smartphones or other devices. With the advent of internet access and smartphones, digital payment options have gained popularity, serving as a simple and effective alternative to traditional payment methods. They are rapidly being used in everyday activities such as purchasing goods, paying bills, and moving money between persons.

This statistic shows the cumulative number of online payment users in China from 2011 to June 2022. As of the June 2022, there were around *** million online payment users in China.

The size of the China Payment Industry market was valued at USD XXX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 8.39% during the forecast period. Recent developments include: June 2022: BOC Chill Card, the bank's first environmentally friendly credit card, was officially launched by the Bank of China and Mastercard. The card aims to give young consumers who enjoy entertainment, leisure, and environmentally sustainable consumption a "Chill" lifestyle. Young consumers may avail advantage of various cash incentives and a flexible Pay Later payment solution to fit their spending habits and lifestyles., April 2022: China's central bank digital currency, the Digital Yuan, has been integrated with Tencent's flagship messaging app WeChat and appears as a payment option when users employ the super-app shop.WeChat boasts over 1.2 billion monthly active users, is ubiquitous in China, and is popular outside the Middle Kingdom.. Key drivers for this market are: Rising Adoption of E-commerce Supported by M-commerce in China, Mobile Payments to Drive the Payments Market; Growth of Real-time Payments, especially Buy Now Pay Later in China. Potential restraints include: Internet Breakdown and Bandwidth Limitation. Notable trends are: Mobile Payments to Drive the Payments Market.

The China real-time payments (RTP) industry is experiencing explosive growth, projected to reach a market size of $5.46 billion in 2025, expanding at a Compound Annual Growth Rate (CAGR) of 32.60% from 2025 to 2033. This rapid expansion is fueled by several key factors. The widespread adoption of smartphones and mobile internet access has created a fertile ground for digital payment solutions, with platforms like Alipay and WeChat Pay leading the charge and establishing a near-ubiquitous presence. Government initiatives promoting digitalization and financial inclusion have further accelerated the industry's growth, encouraging both businesses and consumers to embrace RTP systems. The increasing preference for contactless and cashless transactions, driven by convenience and hygiene concerns, especially amplified during recent global health crises, significantly contributes to this growth. The market is segmented primarily by payment type: Person-to-Person (P2P) and Person-to-Business (P2B), with P2P transactions dominating due to high mobile penetration and the popularity of social commerce. Competition is fierce, with major players like Alipay, WeChat Pay, and international giants such as PayPal vying for market share. While the regulatory landscape and potential cybersecurity risks pose challenges, the overall outlook for the China RTP industry remains highly positive for the foreseeable future. The significant growth trajectory is underpinned by the expanding e-commerce sector in China, increasing cross-border transactions, and the continuous innovation in fintech solutions, including advancements in artificial intelligence and blockchain technology for enhanced security and efficiency. However, maintaining sustainable growth requires addressing challenges such as ensuring data privacy and security, combating fraudulent activities, and ensuring regulatory compliance. Further expansion into underserved rural areas and promoting financial literacy among the older generation are crucial for maximizing the industry's potential. The continued integration of RTP systems with other financial services, such as lending and investment platforms, will further drive market expansion and create new opportunities for innovation and growth throughout the forecast period. Recent developments include: April 2023 - Paypal Holdings Inc. stated that it has introduced new features In addition to its complete payment solution for small businesses, . The solution provides a range of payment options, such as PayPal, Venmo and Pay Later, for small businesses. Incentivizing customers to choose how they want to pay can help drive the checkout process., February 2023 - Yiwu, located in eastern China's Zhejiang province, launched a payment platform to facilitate global online transactions. A new payment platform Yiwu Pay aims to facilitate over 900,000 market entities as through this platform, about 2.1 million micro, small, and medium-sized enterprises along the supply chain will be able to better connect to the global market and conduct easier and safer cross-border transactions.. Key drivers for this market are: Rising Penetration of Smartphone is Expected to Boost the Real Time Payments Market, Growing Need For Faster Payments and Falling Reliance on Traditional Banking. Potential restraints include: Rising Penetration of Smartphone is Expected to Boost the Real Time Payments Market, Growing Need For Faster Payments and Falling Reliance on Traditional Banking. Notable trends are: Increasing Penetration of Smartphone across China to Propel the Real Time Payments Market Growth.

The global third-party payment market is experiencing robust growth, driven by the increasing adoption of e-commerce, mobile commerce, and digital wallets. The shift towards cashless transactions, coupled with the expanding reach of internet and mobile penetration, particularly in emerging economies, fuels this expansion. Key segments like mobile payments and internet payments are witnessing exponential growth, surpassing traditional bank card acquiring methods in many regions. Competition is fierce, with established players like Alipay and Tencent vying for market dominance alongside a burgeoning number of regional and specialized providers. The market is characterized by continuous innovation, with the emergence of new technologies like biometric authentication and blockchain further enhancing security and efficiency. Regulatory changes and cybersecurity concerns remain key challenges, requiring continuous adaptation and investment in robust security infrastructure. While North America and Europe maintain significant market shares, the Asia-Pacific region, especially China and India, demonstrates exceptionally high growth rates, fueled by large populations and increasing digital literacy. This rapid expansion is expected to continue, with a projected Compound Annual Growth Rate (CAGR) that outpaces the global average in several key segments. The third-party internet payment segment, a crucial subset of the broader third-party payment market, mirrors the overall positive growth trajectory but with even higher dynamism. The increasing reliance on online shopping and digital services across various demographics is a primary catalyst. This segment benefits from continuous technological advancements, enhancing user experience and security. However, challenges like cross-border transaction complexities, varying regulatory frameworks across different jurisdictions, and the ever-present threat of fraud and cyberattacks necessitate proactive measures from both providers and regulatory bodies. While established players maintain dominance, the emergence of fintech startups with innovative payment solutions continues to reshape the competitive landscape. The geographical distribution of this market is similar to the overall third-party payment market, with Asia-Pacific showcasing remarkable growth potential due to its expanding digital economy and large untapped market. Future growth will be influenced by factors such as the adoption of open banking initiatives, advancements in artificial intelligence for fraud detection, and the increasing integration of payment solutions within broader digital ecosystems.

The size of the China Real Time Payments Industry market was valued at USD XX Million in 2023 and is projected to reach USD XX Million by 2032, with an expected CAGR of 32.60% during the forecast period. Recent developments include: April 2023 - Paypal Holdings Inc. stated that it has introduced new features In addition to its complete payment solution for small businesses, . The solution provides a range of payment options, such as PayPal, Venmo and Pay Later, for small businesses. Incentivizing customers to choose how they want to pay can help drive the checkout process., February 2023 - Yiwu, located in eastern China's Zhejiang province, launched a payment platform to facilitate global online transactions. A new payment platform Yiwu Pay aims to facilitate over 900,000 market entities as through this platform, about 2.1 million micro, small, and medium-sized enterprises along the supply chain will be able to better connect to the global market and conduct easier and safer cross-border transactions.. Key drivers for this market are: Rising Penetration of Smartphone is Expected to Boost the Real Time Payments Market, Growing Need For Faster Payments and Falling Reliance on Traditional Banking. Potential restraints include: Internet Breakdown and Bandwidth Limitation. Notable trends are: Increasing Penetration of Smartphone across China to Propel the Real Time Payments Market Growth.

China Electronic Payment: Non-bank Payment Institution: Internet data was reported at 56,630.000 RMB bn in Dec 2018. This records an increase from the previous number of 52,010.000 RMB bn for Sep 2018. China Electronic Payment: Non-bank Payment Institution: Internet data is updated quarterly, averaging 17,546.563 RMB bn from Mar 2013 (Median) to Dec 2018, with 24 observations. The data reached an all-time high of 56,630.000 RMB bn in Dec 2018 and a record low of 1,882.757 RMB bn in Mar 2013. China Electronic Payment: Non-bank Payment Institution: Internet 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.KC: Non Cash Payment Instrument.

China Mobile Payments Market size was valued at USD 10.0 Billion in 2024 and is projected to reach USD 48.4 Billion by 2032, growing at a CAGR of 21.8% from 2026 to 2032.

Key Market Drivers

Widespread Smartphone Adoption and Internet Penetration: widespread smartphone adoption and internet penetration are driving the China Mobile Payments Market. According to the China Internet Network Information Center (CNNIC), China had 1.12 billion internet users as of December 2023, with mobile devices accounting for 99.7% of internet access. This massive mobile internet user base serves as the foundation for the continuous growth of mobile payments, allowing seamless transactions across several providers. The high smartphone penetration rate promotes a robust ecosystem for mobile payment acceptance, as users are more likely to utilize their handsets for payments due to convenience and accessibility.

Discover the explosive growth of China's mobile payment market, projected to reach [estimated 2033 market size in millions] by 2033 with a CAGR of 8.10%. This in-depth analysis covers key players like Alipay, WeChat Pay, and more, exploring market trends, segments (proximity & remote payments), and future growth potential. Recent developments include: November 2021 - China implemented new guidelines for mobile payments, which will pave the way for the country's central bank's digital currency. The People's Bank of China (PBOC), the country's central bank, has announced new regulations for mobile payments, the country's most significant payment method, that aims to better specify the usage and classification of payment collection barcodes to combat crimes such as unlawful gambling.. Key drivers for this market are: Increasing Internet Penetration and Growing M-Commerce Market, Increasing Number of Loyalty Benefits in Mobile Environment. Potential restraints include: Increasing Internet Penetration and Growing M-Commerce Market, Increasing Number of Loyalty Benefits in Mobile Environment. Notable trends are: Proximity Payment Expected to Drive the Market Growth.

Explore the booming third-party payment and internet payment market, projected to reach [estimated market size in 2033] by 2033. Discover key growth drivers, regional trends, competitive landscape, and leading players like Alipay and Tencent. Get insights into market segmentation, future forecasts, and challenges in this dynamic industry.

Discover the booming Hong Kong payment industry! This comprehensive analysis reveals a market valued at $146.17 million in 2025, projected to grow at a CAGR of 5.66% driven by digital wallets, FinTech, and e-commerce. Explore key trends, restraints, and leading companies shaping this dynamic sector. Recent developments include: November 2023 - JCB and Stripe Expanded their Partnership to Europe, Singapore, and Hong Kong. As part of this expansion, Stripe added JCB to its default payment scheme for merchants in the United Kingdom and Ireland in August and for merchants in other European countries, Singapore and Hong Kong.. Key drivers for this market are: Integration of Payment Gateways, Initiatives by the Government to Advance in Digital Payments. Potential restraints include: Integration of Payment Gateways, Initiatives by the Government to Advance in Digital Payments. Notable trends are: Card Payments to Hold Significant Share in Online Payment Sector.

In 2020, the online payment transaction value of third-party online payment transactions in China grew by **** percent to almost *** trillion yuan. According to the forecast, the payment GMV was projected to reach *** trillion yuan by 2025. China was the vanguard of the global mobile payment industry, and digital payments are an integral part of Chinese everyday life.

The booming third-party payment market is projected to reach $192.14 billion by 2033, exhibiting a robust CAGR of 14.79%. This comprehensive analysis explores key drivers, trends, restraints, and market segmentation, featuring insights from leading players like PayPal, Stripe, and Alipay. Discover the future of digital payments! Recent developments include: September 2024: PayPal launched "PayPal Complete Payments," an all-in-one platform tailored for Chinese merchants aiming to sell globally. This platform simplifies payment and receivables processes for businesses of all sizes in China, enabling them to excel in cross-border trade and the digital economy. Engaging with over 700 merchants nationwide, PayPal's global and China management teams, alongside partners, shared insights on international and local business strategies, cross-border payment solutions, industry trends, and targeted initiatives to bolster growth for Chinese merchants.June 2024: Adyen, the preferred financial technology platform, partnered with SumUp, a financial technology provider for small merchants. This strategic alliance aims to deliver an unparalleled payment experience and expedited settlements to millions of small businesses globally. SumUp is enhancing its near-instant settlement feature, previously exclusive to its merchants, through this collaboration. This advantage extends to millions of small and micro merchants across Europe and the UK, granting them quicker access to funds and greater control over their financial affairs.. Key drivers for this market are: Penetration of Internet Leading to Proliferation of Digital Payments, Cloud Based Systems Leading to Growth of B2B Sales and also Higher Sales in the POS Segment; Growth of E-Commerce Across the High Growth Regions of the World. Potential restraints include: Penetration of Internet Leading to Proliferation of Digital Payments, Cloud Based Systems Leading to Growth of B2B Sales and also Higher Sales in the POS Segment; Growth of E-Commerce Across the High Growth Regions of the World. Notable trends are: Mobile Witness Major Growth.

China Electronic Payment: Banking: Online data was reported at 16,148.000 Unit mn in Dec 2018. This records an increase from the previous number of 14,893.000 Unit mn for Sep 2018. China Electronic Payment: Banking: Online data is updated quarterly, averaging 10,540.000 Unit mn from Mar 2013 (Median) to Dec 2018, with 24 observations. The data reached an all-time high of 16,148.000 Unit mn in Dec 2018 and a record low of 5,250.000 Unit mn in Mar 2013. China Electronic Payment: Banking: Online 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.KC: Non Cash Payment Instrument.