2007 Online Payments Market in China: Market Overview and Major Players
Boston, MA (PRWEB) April 25, 2008 -- 2007 Online Payments Market in China: Market Overview and Major Players
New Research Report by Mercator Advisory Group
More and more China's consumers are realizing the benefits of online shopping and online payments. One in every five Chinese Internet users has bought something online and many have paid online as well. Leading online payment service providers have been cultivating the market and attracting users by offering free services. the Improvements in the convenience, reliability and security also lessen consumers' concerns with paying online. The e-commerce market in China has been growing by over 110% per year on average since 2002. China's online payment market, which is expected to record over CNYH195 Billion (USD 27.85 Billion) transaction volumes in 2008 alone.
Terry Xie, Director of Mercator Advisory Group's International Advisory Service and principal analyst on this report comments, "The online payment market in China has been growing rapidly over the past 3 years and the high-speed growth is expected to continue in the foreseeable future. However, the market entry barrier is getting high, and local competition remains intense. The majority of the market will continue to be shared among the top players, while the rest would have to fight for profits and market share through differentiation and niche markets."
The most recent report from Mercator's International Advisory Service discusses the internet penetration in China and the booming online shopping market in China. A brief history of the evolution of online payment market in China is then provided, followed up by discussion of the current state, the industry landscape, and issues in the market. The third chapter of the report surveys the online payment market in China with profiles of leading players including Alipay, Tenpay, ChinaPay, 99Bill, and International Payment Solutions (IPS). Overviews of other major players in the market are also provided.
Report Highlights:
* China's e-Commerce is experiencing explosive growth in the past 4 years thanks to growing Internet population, increasing personal income, and better adoption of online shopping.
* As a result, online payment market also blossomed, attracting new entrants from both local and international players. Competition became intense, and a price war resulted. Some excelled to dominate the market, with others struggling to stay in the race.
* Remaining players are still facing more direct competition and uncertainty in regulations. Differentiation, customized solutions, and quality service would be key success factor in today's market.
* Looking forward, online payments will continue to benefit from health growth in C2C markets and the expected-take-off of B2C markets in the near future.
The report contains 33 pages long and 5 exhibit
Members of Mercator Advisory Group have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits. Please visit us online at www.mercatoradvisorygroup.com.
For more information call Mercator Advisory Group's main line: 781-419-1700 or send email to info(at)mercatoradvisorygroup.com.
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