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Published: May 2008
Report Length: 38 pages
Report Authors: Boaz Rottenberg.
A report introduction with a table of contents is available for download here.
Over twenty years after the first
credit card was launched in China, and six years since the Chinese banks were
unified in under a nationwide network, online payments is finally starting to
catch on in China. Home to what are already one of the largest online
populations in the world, at over 220 million users, China is a market ripe with
potential for online payment services, but for those interested in entering the
market, a number of unique challenges remain.
In this report, we highlight the
potential for online payment in China
as well as the potential pitfalls and challenges that you will encounter. We
also examine the brief history of, the current state of, and the future
development of online payments in China. Lastly, we have also
identified and profiled the key Chinese companies to look out for in the market
today.
Key Findings
- How important is the role of cash
and prepaid payments in China
today?
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What is the role of credit cards
for online payment development in China?
-
Which online payment models will
become widely accepted in China?
-
What is the regulatory environment
for online payment in China?
-
Which companies are leading the
way in China's
online payment sector?
-
hat are the strengths and
weaknesses of the major online payment companies in China?
-
Are online payment companies in China making
money?
-
What are the challenges and risks
for online payment companies in China?
-
What opportunities are available
for market entry and growth?
- Is there a potential "China Paypal"
in the market today?
Figures
Figure 1: China's Late Start: Banking and e-Commerce Milestones, 1950-2008
Figure 2: Internet Users in China, 2001-2007 (M)
Figure 3: Bank Cards in Circulation in China, 2002-2007 (M)
Figure 4: Credit Cards Circulating in China and in the US, 2007 (M)
Figure 5: ATMs in China and US 2005-2007, (per 1 Million People)
Figure 6: ICBC Online Payment Password Card
Figure 7: China Government Groups Involved in Third-party Payment Regulation
Figure 8: Alipay and China Post Cash Remittance Form
Figure 9: China Mobile Prepaid Card
Figure 10: Alipay Transaction Volume Breakdown (%)
Figure 11: Tenpay Transaction Volume Breakdown (%)
Figure 12: China Online User Income Distribution, 2007 (RMB per Month)
Figure 13: China's Online Payment Registered Users, 2003-2007 (M)
Figure 14: Third-party Payment Provider Registered User Breakdown, 2007 (M)
Figure 15: Merchant Partners, 2007 by Tier (%)
Figure 16: Different types of Bankcards in China
Figure 17: Shenzhen Development Bank Credit Cards
Figure 18: Co-branded Debit Cards: Alipay Dragon Card and Taobao Green Card
Figure 19: China Online Payment Company Headquarters
Figure 20: China Online Payment Provider Bank Partners
Figure 21: China Online Payment Provider Foreign Credit Card Partners
Figure 22: China Online Payment Provider Key Domestic Credit Card Partners
Figure 23: Multiple Payment Channels for China Payment Companies
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