![]() ![]() Alipay’s parent Ant Financial is a full-scale financial services company, so Alipay has a wide variety of financial services integrated, such as money market investing (Yu’e Bao), insurance services (ZhongAn), credit rating services (Sesame Credit), personal credit lines (Ant Micro Loan), and online banking (MYbank).Walmart has rejected Alipay in many of its southwest China outlets recently because of its partnership with WeChat.Īlipay and WeChat also compete in the financial services arena:.Fliggy, has stopped offering WeChat Pay as an option.For instance, food delivery app Meituan Waimai no longer accepts Alipay and Alibaba’s travel agency app.The two compete fiercely in areas like online-to-offline (O2O) services, retail and financial services.īoth entities now pursue exclusive partnerships: In Q1 2017, Alipay’s market share dropped to 54%, with WeChat Pay claiming 40%. The competition between Alipay and WeChatĪlthough WeChat Pay came a decade later, it has captured significant market share. However, as mobile commerce emerged and reshaped lifestyles, WeChat Pay expanded beyond its original parameters and started competing with Alipay in many areas. It was created for peer-to-peer (P2P) transfers and in-app purchases. WeChat Pay was released 9 years later as a payment service for WeChat, the largest social media app in China. There were lots of transaction failures due to lack of trust, so Alipay was introduced to temporarily keep money paid by the buyer, and release it to the seller only if the buyer was satisfied.Īfter proving itself, Alipay saw tremendous growth and expanded beyond Alibaba’s ecosystem. Initial development of mobile payment in Chinaīorn in 2004, Alipay was launched as a secure transaction service for Taobao. These two giants are driving the transformation with their approaches to expanding the market. Tencent’s WeChat Pay and Alibaba affiliate Ant Financial’s Alipay account for 90% of the industry. According to Xinhua, the mobile payment market reached RMB 81 trillion (US$12.77 trillion) as of October 2017. MICRO-INFLUENCERS, KOCs AND PRIVATE POOLSĬhina is leading the globe’s cashless trend with its ubiquitous mobile payments.HOW TO PREVENT AND DEAL WITH PR CRISES IN CHINA.WORKING WITH BLOGGERS, INFLUENCERS & KOLS.Q4 2020 CHINA MEGA REPORT: E-COMMERCE & DIGITAL MARKETING.Q1 2021 CHINA MEGA REPORT: E-COMMERCE & DIGITAL MARKETING.Q2 2021 CHINA MEGA REPORT: E-COMMERCE & DIGITAL MARKETING.Q3 2021 CHINA MEGA REPORT: E-COMMERCE & DIGITAL MARKETING.THE MEGA GUIDE: CHINA E-COMMERCE, MARKETING AND DIGITAL SPACE 2023.CHINA MARKET ENTRY: E-COMMERCE + MARKETING PLANNING WORKSHOP.CHINA DIGITAL MARKETING MASTERCLASS: CHINA E-COMMERCE.CHINA DIGITAL MARKETING MASTERCLASS: LIVESTREAMING EDITION.CHINA TREND WATCHING MASTERCLASS: GETTING READY FOR 2022. ![]() ![]() 8-MODULE CHINA DIGITAL MARKETING MASTERCLASS.CONTENT MARKETING: THE VIRAL POWER OF STORYTELLING.LEARN FROM CHINA RESEARCH AND CONSULTANCY. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |