Market Share of China Real Time Payments Industry
The China real-time payments market appears to be semi-consolidated, as few players currently hold significant market share. Major market players provide innovative payment solutions and are involved in various strategies, such as product innovations, acquisitions, and partnerships, among others, to gain a competitive edge. Some key market players include Paypal Holdings Inc.,
- In Januray 2024, PayPal Holdings, Inc introduces reimagined checkout and guest checkout experiences, new advanced offers platform for merchants, and new consumer app to earn cash back and give customers more reasons to shop with PayPal
- In April 2023, Changshu, located in the province of Jiangsu, announced its plans to start a new payment process in May, which is expected to be the biggest rollout of the currency, also known as the e-CNY, in China. After the launch, In a city in eastern China, government workers will receive full pay in the electronic yuan.
China Real Time Payments Market Leaders
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AliPay (Alibaba Group)
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WeChat Pay (Tencent Holdings Ltd.)
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Paypal Holdings Inc.
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ACI Worldwide Inc.
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JDPay.com (JD.com)
*Disclaimer: Major Players sorted in no particular order
