Mobile payments are near universal across use cases in China, thanks to high mobile penetration and the rise of a wallet duopoly that’s made them accessible, affordable, and convenient. Providers must duel for share of spend, rather than new users, but government crackdowns and a state-run alternative could shake up the market’s competitive structure.
3 KEY QUESTIONS THIS REPORT WILL ANSWER:
WHAT’S IN THIS REPORT? Factors driving consumer habits around proximity and P2P mobile payments, market dynamics affecting providers’ business performance in the space, and actionable steps providers can take to secure users and grow their mobile payment business in China.
KEY STAT: We expect the number of proximity mobile payment users in China will grow from 735.0 million to 796.4 million between 2021 and 2025.
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