Alipay became the world’s largest mobile payment platform since 2013. As of March 31, 2018, the number of Alipay users reached 870 million. It is the world’s number one mobile payment service organization and the second largest payment service organization in the world. According to the statistics of the fourth quarter of 2017, Alipay has a 54.26% share of the third-party payment market in mainland China, and it continues to grow.
WeChat is one of the most important app in China for sending message with each other.
WeChat Pay is an in-app payment feature that allows all WeChat users to pay for transactions quickly on their mobile phones. It’s fully optimized for online and offline businesses and aims to offer more opportunities.
WeChat Pay has grown extremely rapidly in the past two years. 400+ million Chinese have their bank cards linked with WeChat. WeChat pay is taken in stores all across in China. In particular, peer to peer micro-payments became extremely popular on WeChat . Chinese consumers are now comfortable using WeChat for payments. It is now commonly accepted in most stores across China.
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