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Third-party Online Payment Market Size Reached 21 billion RMB in Q2 2007 Third-party Online Payment Market Size Reached 21 billion RMB in Q2 2007(0)

iResearch found that with the rapid development of online payment industry, China’s third-party online payment is transferring to a new period characterized by industrial payment with the following features.

Dependent payment companies have larger market share
Third-party online payment company represented by Alipay, Tenpay, Paypal accounts for more than 70% of the market in Q2 2007. Alipay has become the quickest development online payment company in China with high user penetration and stickiness. The success of dependent payment companies mainly due to the support on business resources, technology and brand from their parent company.

Industry segmentation
With the development of online payment market, the trend of industry segmentation is becoming evident. Some online payment company may transfer to industrial payment platform in future, providing varies payment products according to different industries. The development of third-party online payment company will based on the requirements of industries.

Payment gateway is gradually being replaced
Business mode is humdrum with payment gateway. The similarity of services and products that online payment companies provide leads to the overabundance of products for low level customers and lack of products for high level customers. Non-rational price competition occurs because of the special relationship between supply and requirements. And account payment emphasizes on difference of products and services. Payment companies can make full use of their own resources to provide more value-added services.

Competition between banks and payment companies is becoming fiercer
With the recognition of B2C online payment and development of B2Bonline payment, the competition between banks and payment companies is becoming fiercer. Although most banks provide gateways for third-party online payment companies, they controls profit distribution currently.

Source : Chinatechnews

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