Chinese third-party payment industry on the way up

Monday 7 April 2014 11:56 CET | News

Chinese third-party payment industry is on the way up, with providers of third-party payments witnessing a rapid increase on their revenues since 2012, online media outlet Want China Times unveils.

Analysts estimate a value of almost USD 130 billion (CNY 800 billion) for the total point-of-sale (POS) transactions for top-ranking providers of enterprise-level payment services, such as 99Bill, YeePay and financial payment provider China Payment and Remittance Service.

Cardless payments technologies are also are a development priority for third-party payment providers, considering that cardless purchases are expected to become the mainstream in the market five years from now, and it will require cross-field cooperation among companies such as payment providers, financial institutes and telecom operators, for risk control over internet financial services.

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Keywords: China, third-party, payment, online, industry, cardless
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce