Sina Weibo enter into the mobile payment market. Do they have a chance of success?

Sina Weibo published their own payment system "Weibo Wallet" last December, but recently they also published its service for mobile users.

Now they provide only the Android client and mobile browser version, but they said that they will also provide its iPhone and Windows client soon.

I downloaded the Android client and tried it.

  

It can be charged the money from bank, mobile phone and so forth, and the user can pay the electric, water and gas bills from it as same as the PC version.


According to the recent report by CNNIC, mobile payment user is rapidly increasing in China. Furthermore, MIIT estimated that the scale of mobile payment market in China will be about 24 billion USD in 2013, and its market will continue 40% growth in the next few year.

Sina Weibo would like to monetize soon, and also in the view of its market growth, it's make sense that they will enter into the mobile payment market. But there are many strong rival like Alipay in this market. Furthermore, Unionpay and each banks are also watching vigilantly for a chance.

Sina Weibo have over 500 million users now, so "Weibo Wallet" user may be smoothly increasing. But the view of real business, I think that they will continue facing the tough challenge for a while. Let's keep attention to their actions.


Source => Weibo Wallet, ChinaIRN

Alipay achieved the trade of 19.1 billion RMB in one day on "Single Day" sales. [Infographic]

In China, November 11 is a day called "光棍节(Singles Day)" for people who are living the single life. The largest online payment service "Alipay" achieved the trade of 19.1 billion RMB in one day on that day. Next infographic is the time series of this achievement.

0:10  Their transaction amount hit 250 million RMB.

0:37  Their transaction amount hit 1 billion RMB.

1:10  Their transaction amount hit 2 billion RMB.

2:19  Their transaction amount hit 3.37 billion RMB, and this number is total amount in the previous year.

8:16  Their transaction amount hit 5 billion RMB.

11:18  Their transaction amount hit 7.9 billion RMB, and this equal to the amount that  Cyber Monday recorded in the previous year.

13:38  Their transaction amount hit 10 billion RMB.

Total transaction amount was 19.1 billion in a day.

Other data:

1. Total amount is 19.1 billion RMB, and this breakdown is as follows:

Tmall     13.2 billion RMB

Taobao   5.9 billion RMB

2. Total UV was 213 million people.

3. Total number of orders was 105.8 billion times.

Source => Tmall official account on Sina Weibo

Alipay started to provide their open platform service for corporate users.

Alipay started to provide their open platform service for corporate users yesterday.

They publish APIs of payment, accounting, billing, trade, sales and so forth. At the moment, Alipay only provide its APIs to the corporate user, but they will also provide them to the personal users in near future too.


According to the report from Eguan, Chinese online payment market size was 976.4 billion RMB(=155.04 billion USD) , and Alipay have 46.9% market share in the third quarter.

They would like to increase their partner by this open platform, and it seems that they would like to establish their firm position in the Chinese online payment market as ever.


Source => Sohu IT, Eguan-1, Eguan-2

Mobile payment registered user in China already exceeded 10 billion people.

According to the report by Eguan, mobile payment registered user in China already exceeded 10 billion people.

And its market share in the first quarter was as follows:

#1 Alipay   61.8%
#2 Tenpay  18.9%
#3 99bill    10.0%
#4 Yeepay    3.3%
#5 IPS         1.6%
#6 Chinabank 0.8%
#7 PayEase   0.9%






As you know, Alipay is a one of Alibaba group company as same as Taobao, their group still have strength in EC or related industry.

And Tenpay is a one of Tencent group company, I'm interested in the fusion of their social business and payment one in the future.


And the whole market share of payment was as follows in the first quarter:

The third position of China Unionpay is also big company of payment industry.
And they announced they will accelerate their mobile solution recently, so we have to pay attention their action as ever too.


Original article => Eguan