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Remote Payment Will Lead China's Mobile Payment Market, Local Payment Will Follow
In-Stat/MDR, Sep 2009, Pages: 43
Payment functions in mobile phones have already become a kind of fundamental technology. Using payment functions, a mobile phone can become a digital wallet containing various forms of money, including debit card, credit card, rechargeable card, coupon, and discount card.
Mobile payment services in China are generally in the initial phase, with usage limited to mobile phone charges and mobile application purchases. Other types of mobile payment, such as NFC mobile phone payment and online payments of the kind used in mobile e-commerce, remain in the trial phase. However, drivers from both the supply side and the demand side are strong enough to drive growth. In addition, industry players in China have recognized the potential growth of the mobile payment market and are beginning to get more actively involved.
To provide these players with a deeper understanding of the mobile payment market, In-Stat generated this report, which clarifies the various kinds of mobile payment services and the ways in which they are used, analyzes business models and potential market structures, and provides forecasts for the market sizes of the different types of mobile payment services in China.
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