Consumer Payments Country Snapshot: China 2016
China represents a mature payment card market in Asia, with over 5 billion payment cards in issue. Despite a high card-per-customer ratio China is expected to see mild growth in both card numbers and the value of transactions, as mobile has become the payment mechanism of choice in the country. China UnionPay is the fastest-growing card scheme in China, claiming a more than 90% market share in 2015.
- Pay-now cards are the fastest growing payment card segment in China, mostly driven by the popularity of mobile payments.
- Overall, the acceptance of contactless cards in China is high, boosted by wider acceptance of the contactless transport card introduced in the subway systems of major cities.
This report examines the consumer payments market in China, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. This report also examines the main regulatory players in the Chinese market.
- Analyzes the consumer attitudes to financial services by life stage.
- Analyzes the major payment card types in terms of both card holding and usage.
- Identifies the major competitors in card issuing and how their positions in the market have changed over the last five years.
- Considers consumer attitudes towards P2P tools, mobile payment tools, and contactless cards, and how companies in China are deploying these tools to meet customer needs.
- Explores the online payment market in China by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.
Reasons To Buy
- Understand the key facts and figures in the consumer payments market in China.
- Discover which trends drive consumer behavior at the macro level and plan your strategy accordingly.
- Find out what products the major competitors are launching in the market.
- Learn about consumer sentiments towards various payment tools in the Chinese market and use this knowledge to inform product design.
PAYMENTS INFRASTRUCTURE and REGULATION
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.