China Mobile Payments Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The China Mobile Payments Market is segmented by Type (Proximity Payment, Remote Payment).

China Mobile Payments Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

China Mobile Payments Market Size

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China Mobile Payments Market Report
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2019 - 2023
CAGR 8.10 %
Market Concentration Medium

Major Players

China Mobile Payments Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of China Mobile Payments Market with other markets in Technology, Media and Telecom Industry

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Electronics

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Media and Entertainment

Security & Surveillance

China Mobile Payments Market Analysis

The China Mobile Payments Market is expected to register a CAGR of 8.1% during the forecast period.

  • The mobile payment landscape across China is changing rapidly, owing to digital transformation. The technological advancement in the smartphone has enabled on-the-go fund transfer and POS at retail terminals, which are fueling the global market growth.
  • The growth of China's mobile payment business is attributed to three factors, a friendly regulatory environment, a supply shortage of payment services, and recent technological developments. With substantial access, low cost, and reliable transactions, commercial business models and people's daily lives have been changed significantly.
  • China's two largest mobile payment service operators, Alibaba and Tencent, ventured into the payment industry with already massive customer bases from their e-commerce and messaging businesses, respectively. On top of this inherent advantage, Chinese consumers generally seem to place more value on the benefits of convenience, speed, and the ability to access financial means brought by mobile payments.
  • Limited credit card use and the centralized nature of China's e-commerce market have facilitated the rapid expansion of mobile payments in China. This is also accentuated by the fact that making payments using QR codes in China is a lot easier as compared to other countries, as the codes are readily available everywhere, thereby, proliferating mobile payments even in rural areas.
  • With the increasing number of mobile users, the number of security concerns associated with mobile payments is on the rise, too hindering the market growth. For example, malicious app clones are a major problem when it comes to android phones as such apps are either published on alternate, less regulated app stores or distributed as standalone.apk packages. In the case of iOS fraudsters target via jail-broken devices.

China Mobile Payments Industry Overview

The China Mobile Payments Market is moderately competitive, with a considerable number of regional and global players. Key players include WeChat (Tencent Holdings Limited), Paupal Inc., AliPay, Huawei Device Co., and 99bill

  • October 2021 - Alipay and WeChat Pay are giving state-owned bank card clearinghouse UnionPay even more access to their mobile payment ecosystems. Ant Group-owned Alipay announced payment QR codes through UnionPay's Cloud QuickPass app for offline payments in every city across China. In Beijing, Guangzhou, Shenzhen, Tianjin, Chengdu, Chongqing, Xi'an, and other important Chinese cities, the QR code feature is available.
  • January 2021 - PayPal Holdings Inc has become the first foreign company in China to have complete control of a payment platform. According to shareholder data from the National Enterprise Credit Information Publicity System, PayPal purchased the remaining 30% ownership in China's GoPay, formally known as Guofubao Information Technology Co., on December 2020.

China Mobile Payments Market Leaders

  1. AliPay

  2. 99bill

  3. Huawei Device Co., 

  4. Paypal Inc.

  5. Apple Inc

  6. *Disclaimer: Major Players sorted in no particular order
AliPay, 99bill, Huawei Device Co., , Paypal Inc., Apple Inc
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China Mobile Payments Market News

  • November 2021 - China implemented new guidelines for mobile payments, which will pave the way for the country's central bank's digital currency. The People's Bank of China (PBOC), the country's central bank, has announced new regulations for mobile payments, the country's most significant payment method, that aims to better specify the usage and classification of payment collection barcodes to combat crimes such as unlawful gambling.

China Mobile Payments Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumption and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Porters Five Force Analysis
    • 4.2.1 Bargaining Power of Suppliers
    • 4.2.2 Bargaining Power of Buyers
    • 4.2.3 Threat of New Entrants
    • 4.2.4 Threat of Substitutes
    • 4.2.5 Intensity of Competitive Rivalry
  • 4.3 Assessment of COVID-19 Impact on the Market

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Increasing Internet Penetration and Growing M-Commerce Market
    • 5.1.2 Increasing Number of Loyalty Benefits in Mobile Environment
  • 5.2 Market Challenges
    • 5.2.1 Security Issues Associated with Mobile Payments
  • 5.3 Market Opportunities
  • 5.4 Key Regulations and Standards in the Mobile Payments Industry
  • 5.5 Analysis of Business Models in the Industry
  • 5.6 Analysis on Enabling Technologies (Coverage to include NFC, QR, etc.)
  • 5.7 Commentary on the growth of Mobile Commerce and its influence on the Market

6. MARKET SEGMENTATION

  • 6.1 By Type (Market share in percentage based on relative adoption)
    • 6.1.1 Proximity Payment
    • 6.1.2 Remote Payment

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles
    • 7.1.1 AliPay
    • 7.1.2 99bill
    • 7.1.3 Google LLC (Alphabet Inc.)
    • 7.1.4 Samsung Group
    • 7.1.5 Apple Inc
    • 7.1.6 WeChat (Tencent Holdings Limited)
    • 7.1.7 Visa Inc.
    • 7.1.8 PAYPAL INC.
    • 7.1.9 Huawei Device Co.,
  • *List Not Exhaustive

8. INVESTMENT ANALYSIS

9. FUTURE OF THE MARKET

**Subject to Availability
List of vendor may vary based on market dynamics
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China Mobile Payments Industry Segmentation

Mobile payments refer to the transactions that are taking place under the purview of various regulatory bodies using mobile devices as part of initiatives to digitize payments across the globe. Mobile device payments act as alternatives to cash, cheques, or physical credit cards.

The scope of the report includes proximity and remote payments that are done through mobile devices. The study considers the impact of COVID-19 on the market.

By Type (Market share in percentage based on relative adoption) Proximity Payment
Remote Payment
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China Mobile Payments Market Research FAQs

What is the current China Mobile Payments Market size?

The China Mobile Payments Market is projected to register a CAGR of 8.1% during the forecast period (2025-2030)

Who are the key players in China Mobile Payments Market?

AliPay, 99bill, Huawei Device Co.,, Paypal Inc. and Apple Inc are the major companies operating in the China Mobile Payments Market.

What years does this China Mobile Payments Market cover?

The report covers the China Mobile Payments Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the China Mobile Payments Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

China Mobile Payments Industry Report

Statistics for the 2025 China Mobile Payments market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China Mobile Payments analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.