China is an online shopping behemoth, and its e-commerce payment market is worth trillion-dollars. China's online shopping payment market significance to the rest of the world is hard to ignore. As it has a huge populace with booming access to digital technology means that sales have risen at a prodigious rate in recent years. According to this research, China's E-commerce Payment Market is expected to be USD 5.5 Billion by 2026.
There are four popular methods of payment online: Bank Transfer, Pay by Card, Digital Wallet, and Online Payment by Third Parties:
- Bank Transfer: In this mode, money is transferred from one bank account to another.
- Card Payment: In this mode, payments are made through credit or debit cards. The use of the credit card in China is irregular, and debits cards are more popular.
- Digital Wallet: A digital wallet, also known as “e-wallet” is a software program that securely allows clients to make electronic transactions with another party. For example: In 2008, Alipay officially introduced its mobile e-wallet.
- Digital Payment: Digital Payment by third parties is a different form of online payment. It was introduced by e-commerce companies to eliminate the loss of trust in online transactions between guests. For example: In 2003, Alibaba (business-to-business e-commerce portal) introduced Alipay - an online digital payment solution based on escrow, where Alibaba held the money until the buyer signed off on receiving the goods.
This report titled “China E-Commerce Payment Market by Segment (Clothing & Apparel, Consumer Electronics, Travel & Tourism, Household Goods, Health & Beauty, Grocery, and Others), Payment Method (Bank Transfer, Card, Digital Wallet, and Others), Company Analysis (ICBC Bank, Bank of China, Alipay, Wechat, and UnionPay)” provides a detailed analysis of China E-Commerce Payment Industry.
Segment: The report China E-Commerce Online Payment Market has been divided into 7 Segments
1. Clothing & Apparel
2. Consumer Electronics
3. Travel & Tourism
4. Household Goods
5. Health & Beauty
6. Grocery
7. Others
Payment Method: On the basis of Payment Method
- Bank Transfer
- Card
- Digital Wallet
- Others
All the 5 companies have been studied from three points
- Overview
- Recent Developments
- Sales Analysis
Company Analysis
- ICBC Bank
- Bank of China
- Alipay
- UnionPay
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary
Companies Mentioned
- ICBC Bank
- Bank of China
- Alipay
- UnionPay
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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