Online payments availability helps online sales in China

Thursday 11 December 2014 00:43 CET | News

The availability of online payment services has played a major role in making goods and services accessible throughout China, a recent report shows.

According to a report conducted by Alipay, the number of payments for utility bills, credit card, mobile phone recharge and money transfer reached 6 billion over the past 10 years. With ongoing advances in mobile internet technology, ecommerce in China continues to shift from desktop PCs to smartphones and other mobile devices. From 2012 to 2014, the proportion of mobile payments to total payments in some of the countrys less-developed regions more than doubled, indicating consumers in rural areas and smaller cities are adopting mobile devices as their primary tool for online shopping as more people in China have access to mobile devices and smartphones.

Findings indicate that in 2014, in Tibet, more than 62% of Alipay payments came via mobile (up from 32.7% in 2013), the highest penetration rate out of all Chinese provinces and municipalities. For the country as a whole, the percentage of mobile transactions to total transactions was 54% in 2014, up from 22% in 2013.

The research also reveals that 42.3 billion payments were settled by Alipay over the past 10 years. Shanghai and Beijing along with Guangdong, Zhejiang and Jiangsu provinces are the top regions, together accounting for just over 55% of total transactions settled by Alipay in 2013. In terms of individual online spending, residents of the city of Hangzhou, Zhejiangs provincial capital, were the most prolific.

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Keywords: online payments, ecommerce, online sales, Payment Service Provider, mobile payments, payment gateways, Alipay, internet users
Categories: Payments & Commerce
Countries: World
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