Alipay continues to rank first in China's mobile payment market, with its share reaching 54.5% in the third quarter of 2019, China-based data provider iResearch's latest report showed.
Looking at the mobile payment market as a whole, in Q3 2019, the scale of third-party mobile payment transactions in China was 56 trillion yuan, a year-on-year growth rate of 15.2%.
In Q3 of 2019, Alipay's market share rose 0.3 percentage points from the previous quarter to 54.5%, and has achieved growth for three consecutive quarters.
Tencent Tenpay (including WeChat Pay) ranked second, and its Q3 market share in 2019 was the same as the previous quarter, at 39.5%. In Q2 of 2019, the market share of Tenpay was down 0.4%.
One Wallet ranked third, with a Q3 market share of 1.5%, which was also unchanged from the previous quarter.
Since 2018, the year-on-year growth in the scale of China's mobile payment transactions has begun to slow.
However, mobile smart terminal NFC and offline code scanning payment are two powerful growth points. In Q3 2019, the scale of NFC payment transactions in China increased by 55.6% year-on-year, and offline code scanning payment transactions increased by approximately 7.8% from the previous quarter.
