The Traderszone Network

Published in TZ Latest News 2 May, 2017 by The TZ Newswire Staff

Tencent Gains Mobile Payments Ground On Alibaba

Tencent is starting to grab up marketshare from hitherto dominant force Alibaba and its associated Alipay service.  The Chinese mobile payments market is worth an estimated $5.5 trillion annually.

Alipay is still the majority player with its PayPal-esque service, with 54 percent marketshare as of Q4 2016. That is not a small number, but it does represent a sharp decline when one considers that in Q3 2015 Alibaba represented  71 percent of the market.

Tencent’s share rose to 37 percent from 16 percent in the same time period.

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