Consumer Payments Country Snapshot: China 2016
China represents a mature payment card market in Asia, with over 5 billion payment cards in issue. Despite a high card-per-customer ratio China is expected to see mild growth in both card numbers and the value of transactions, as mobile has become the payment mechanism of choice in the country. China UnionPay is the fastest-growing card scheme in China, claiming a more than 90% market share in 2015.
- Pay-now cards are the fastest growing payment card segment in China, mostly driven by the popularity of mobile payments.
- Overall, the acceptance of contactless cards in China is high, boosted by wider acceptance of the contactless transport card introduced in the subway systems of major cities.
This report examines the consumer payments market in China, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. This report also examines the main regulatory players in the Chinese market.This report:
Reasons To Buy
- Analyzes the consumer attitudes to financial services by life stage.
- Analyzes the major payment card types in terms of both card holding and usage.
- Identifies the major competitors in card issuing and how their positions in the market have changed over the last five years.
- Considers consumer attitudes towards P2P tools, mobile payment tools, and contactless cards, and how companies in China are deploying these tools to meet customer needs.
- Explores the online payment market in China by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.
- Understand the key facts and figures in the consumer payments market in China.
- Discover which trends drive consumer behavior at the macro level and plan your strategy accordingly.
- Find out what products the major competitors are launching in the market.
- Learn about consumer sentiments towards various payment tools in the Chinese market and use this knowledge to inform product design.
- PROXIMITY PAYMENTS
- REMOTE PAYMENTS
- MOBILE PAYMENT
- PAYMENTS INFRASTRUCTURE & REGULATION