--FILE--A Chinese customer scans a QR code via mobile payment service Alipay of Alibaba Group on her smartphone to pay for her purchase at a free mark
Image details
Contributor:
Imaginechina Limited / Alamy Stock PhotoImage ID:
W7X0FRFile size:
45.7 MB (1.4 MB Compressed download)Releases:
Model - no | Property - noDo I need a release?Dimensions:
4896 x 3264 px | 41.5 x 27.6 cm | 16.3 x 10.9 inches | 300dpiDate taken:
14 September 2015Photographer:
ImaginechinaMore information:
--FILE--A Chinese customer scans a QR code via mobile payment service Alipay of Alibaba Group on her smartphone to pay for her purchase at a free market in Wenzhou city, east China's Zhejiang province, 14 September 2015. Increasingly popular smartphone, further implementation of "Internet +" program and continuous technological innovation have fueled the rapid growth of the Chinese mobile payment market with transaction volume for 2015 surging by 322.2% to RMB130.18 trillion and expected to maintain an AAGR of 142% over the next couple years to hit RMB13, 776.5 trillion in 2020. With regard to third-party mobile payment, the transaction volume in China reported RMB21.96 trillion in 2015, an upsurge of 167% from a year ago, 90% of the market seized by Alipay and WeChat Pay. Supported by business data, third-party payment companies will continue to expand service functions, finally forming a development pattern of O2O (Online to Offline) services. In addition, driven by mobile-payment interest chain and against the background of tighter access to payment, the mobile payment market has undergone an expedited reshuffle and mobile phone vendors and traditional enterprises have stepped up their presence in 2016, further intensifying market competition. Technologically, as two-dimensional barcode (or QR code) is permitted, 2D barcode payment technology will keep having an edge. Meanwhile, with higher requirements on payment security, other technologies like NFC, HCE, Token and biological recognition will mature gradually.