Third-Party Transactions in China Top $1 Billion in First Half of 2013

Aug. 5, 2013

Transactions in China through third-party payment systems, which include online payment companies, topped $1.13 billion in value in the first half of 2013, according to a report by CCID Consulting. The report identified China UnionPay Merchant Services, which processed 46.3 percent of that total, as the market leader with Alipay (17.8 percent) and China Payment and Remittance Service (6.2 percent) rounding out the top three.

Online payment and bank point-of-sale businesses accounted for more than 97 percent of all third-party transactions in the country for the six-month period ending June 30. The $1.13 billion value of third-party transactions in the first half of 2013 represents 66 percent of the value of all transactions in the entire year of 2012.