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A profile by yStats.com: WeChat Pay has the second largest mobile payment share in China

03-25-2019 11:21 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: yStats.com GmbH & Co. KG

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yStats.com logo

yStats.com, a leading desk research company based in Hamburg, Germany, has published a profile of China’s second most popular mobile payment service. According to the findings cited in “WeChat Pay Profile 2019”, WeChat Pay accounts for a double-digit share of mobile payment volume in China, but remains behind the market leader Alipay.

WeChat Pay pursues an international expansion strategy
As a digital wallet service of China’s popular mobile messaging app WeChat, WeChat Pay is available to hundreds of millions of app users in this country. In addition, as yStats.com’s publication reveals, WeChat Pay has embarked on an international expansion strategy, primarily focusing on Chinese tourists travelling overseas. As of 2018, the service could already be used for QR-based mobile payments in close to 50 countries.

WeChat Pay is China’s number two in the mobile payments market
In China, WeChat Pay is the second most used mobile payment service, with a double-digit percentage share of the market, as of 2018. According to information cited by yStats.com, the gap in Alipay’s and WeChat’s market share in terms of volume was at more than 10 percentage points, but when it comes to user penetration, WeChat Pay also achieved a wide base of more than two-thirds of mobile payment users.

For further information, see: https://www.ystats.com/wp-content/uploads/2019/03/2019.03.20_Product-Brochure-Order-Form_WeChat-Pay-Profile-2019.pdf

About yStats.com
Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world's leading secondary market research companies. We are committed to providing the most up-to-date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.
Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our areas of expertise, covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover a broad range of related topics including M-Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide selection of market reports, we also provide custom market research services.
We are proud to cooperate with companies like Bloomberg and Thomson Reuters. Given our numerous citations in leading media sources and journals worldwide, including Forbes and the Wall Street Journal, we are considered one of the most highly-reputed international secondary market research companies with an expertise in the areas of B2C E-Commerce and Online Payment.

Press Contact:
yStats.com GmbH & Co. KG
Behringstrasse 28a, D-22765 Hamburg
Phone: +49 (0)40 - 39 90 68 50
Fax: +49 (0)40 - 39 90 68 51
E-Mail: press@ystats.com
Internet: www.ystats.com
Twitter: www.twitter.com/ystats
LinkedIn: www.linkedin.com/company/ystats
Facebook: www.facebook.com/ystats

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