How big is the China Payments Market?

The China Payments Market size is expected to reach USD 40.27 trillion in 2024 and grow at a CAGR of 8.39% to reach USD 60.24 trillion by 2029. Read More

What is the current China Payments Market size?

In 2024, the China Payments Market size is expected to reach USD 40.27 trillion. Read More

Who are the key players in China Payments Market?

AliPay (Alibaba Group), WeChat Pay (Tencent Holdings Ltd.) , UnionPay International , JDPay.com (JD.com)) and Apple Pay are the major companies operating in the China Payments Market. Read More

What years does this China Payments Market cover, and what was the market size in 2023?

In 2023, the China Payments Market size was estimated at USD 37.15 trillion. The report covers the China Payments Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the China Payments Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

China Payments Market Share

Statistics for the 2023 & 2024 China Payments market share, created by Mordor Intelligence™ Industry Reports. China Payments share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of China Payments Industry

The China payments market is consolidated as few of the major players currently hold significant market share. These major players offer innovative mobile payment solutions and indulge in partnerships and acquisitions to gain market share. Major players in the China payments market include AliPay (Alibaba Group), WeChat Pay(Tencent Holdings Ltd.), and UnionPay International, among others.

In October 2022, MojodomoHoldings Limited, a performance-based voucher solution provider, announced the launch of "On-us," a new brand aimed at giving customers a trusted, seamless, personal, and social brand experience through incentives solutions that integrate financial, payment, and marketing technologies. In May 2022, HSBC launched a USD 5 billion sustainable finance program to support Greater Bay Area (GBA) firms in reducing their carbon footprints. Companies of various types with headquarters in the 11-city megalopolis in southern China that implement carbon-reduction initiatives are welcome to submit applications to the bank's GBA Sustainability Fund, which is open for 18 months.