China Online Payment Market to Hit 1 Tln

(Beijing) -- China's online payment market hit 725.5 billion yuan in total transactions over the past three quarters of this year, with annual transactions expected to hit 1 trillion yuan.

According to the consultancy, Analysys International, Alibaba Group's Alipay ranks the top in China's online payment market with a market share of 50.5 percent. Tencent's Tenpay and Quickpay rank the second and third with share of 24.5 percent and 6.1 percent, respectively.