Online payment transaction volume in China 2009-2019
Online payment in China - additional information
Online payment transactions made between users and merchants on the internet have increased rapidly over a relatively short period of time in China. In 2009, only about 505 billion yuan were transacted online whereas in 2015 online transactions were estimated at 11,900 billion yuan. Business to Consumer (B2C) e-commerce is still the most used type of online payment transaction, followed by flight ticket booking, but other types of online payment transactions are growing as well. There are a variety of third-party payment platforms which are licensed to complete online payment transactions, Alipay being the largest third-party platform with over 30 percent share of the market. Other less used payment platforms include Tenpay, Chinaums and others. There is still significant room for market penetration as around 70 percent of internet users are using online payment services.