CNNIC: China's Online

CNNIC: China's Online "Quick Payment" Penetration Reaches 40%

CNNIC, 11/21/12

China Internet Network Information Center (CNNIC) recently released its "2012 Report for China's Secure Online Payments." The report found that the most commonly used methods of online payment at present use third-party account balance payments and online banking, respectively covering 79.2% and 75.7% of users of online payment tools. "Quick payment" services are a growing trend in online payment, with 40.4% of respondents using them.

The most widely used third-party payment tool among Chinese internet users is Alipay, covering 80% of online payment service users. Tencent's (0700.HK) Tenpay came in second place with 21.2%, followed by banking network China UnionPay's UnionPay Online Pay (UPOP), with 16.9%.

Keywords: Internet penetration online banking Alipay Tenpay Tencent CNNIC China UnionPay Internet users third-party payment 0700.HK online payment e-payment national statistics

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