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The most popular forms of online payment in China

Submitted by admin on 2008-09-09 Categories:Internet

According to a June 2008 CNNIC report, 71.3% of online shoppers in China use online payment solutions. 35.7% do Cash-On-Delivery and the remaining 14.7% of online shoppers remit money to the seller at post offices.  

Here’s a breakout of the current most popular forms of online payment (amongst users who pay online):

Alipay (affliated w/Taobao) 76.2%

 

Bank transfer 32.5%

 

Credit card 11.6%

 

Tenpay (affliated w/Paipai) 5.8%

 

Mobile phone payment 1.8%

 

Eachnet Payment 1.3%

 

Paypal China 0.8%

 

Cncard 0.6%

 

IPS 0.1%

 

Conspicuously missing here is Yeepay, which launched with alot of fanfare in 2006 with funding from Draper Fisher Jurvetson and Intel Capital. It looks like smaller players like Yeepay got outflanked by big e-commerce sites like Taobao and Paipai, who promoted their own payment solutions - Taobao (owned by Alibaba) promoted Alipay and Paipai (owned by Tencent) promoted Tenpay.




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