Payment Preferences - China - August 2017
“The usage rate of mobile payments was only 1 percentage point higher than that of credit cards in 2015. After just one year, transaction values via mobile payments has already doubled that via credit cards. Even cash has become the second most used payment method. High earners in tier two to three cities deserve more attention as they have shown the strongest willingness to move towards cashless.”
– Aaron Guo, Senior Analyst, China
This Report looks at the following areas:
- Is China leading the cashless society trend?
- Is WeChat Wallet finally about to replace Alipay?
- What is the payment preference of high income groups?
This Report tracks the changes of payment preferences of surveyed Chinese consumers over the past year, and highlights a missed opportunity in tier two and three cities through analysing the behaviours and attitudes towards mobile and other payment methods of surveyed consumers.
This Report also examines innovative moves by both the government and companies in the non-cash payment area, eg staff-free stores and digital currencies and how these could change the macro and micro environment of non-cash payments.
This Report covers the following payment methods:
- Cards – including debit cards and credit cards, with or without chips and pay-wave functions
- Online payments – via a third-party payment tool (eg Alipay) using a PC or a laptop
- Mobile payments – via a third-party payment tool (eg Alipay) using a smartphone or tablet
- NFC payments – using Apple Pay or Samsung Pay
- Prepaid cards.
What you get
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