Welcome!

Mobile IoT Authors: Elizabeth White, Yeshim Deniz, Zakia Bouachraoui, Pat Romanski, Liz McMillan

News Feed Item

ChinaPNR is China's Third Largest Player in the Country's $165 Billion Third-Party Payment Business

SHANGHAI, Feb. 28, 2013 /PRNewswire/ -- According to the research report on the development of the third-party payment industry in China released by CCID Consulting recently in Beijing, as the third-party payment application industry deepens and expands, financial payment is becoming an important area of growth for the future development of the industry, while businesses with strength in the financial payment area can expect to have good market competitiveness and development potential.

Data from CCID Consulting shows that total transactions through third-party payment in 2012 reached 10.4 trillion yuan ($US165 billion). As for the players, UMS holds a leading market share of 45.9 percent, followed in order by Alipay and ChinaPNR.

China's third-party payment industry is now moving into a new stage, where online and offline markets are being merged constantly through various forms including mobile technology and Online To Offline (O2O). The differences between the sizes of the various players are increasingly evident, and the advantages that some of them possess are also increasingly prominent. Bank card acceptance and internet payment are the two largest subsectors of the industry. Prepaid card issuance and acceptance business focuses on regional businesses, while companies with a national business scope account for only one fifth of all the prepaid card issuance and acceptance companies. Mobile phone payment and other businesses are still in the development stage, accounting for a small share of the overall industry.

As for financial payment, certain third-party payment firms in China are currently expanding their businesses to meet the working capital management demands of B2B firms, in a move to convert their investment and financial payment service operations into full-fledged financial payment service providers. According to statistics conducted by CCIDConsulting.com, China completed third-party financial payment transactions amounting to approximately 290 billion yuan (approx. US$46.5 billion) in 2012. ChinaPNR ranked first across the country in terms of third-party financial payment transaction amount. The firm is followed by 99Bill.com and Alipay (including Alibaba's operations), occupying second and third places, respectively.

Compared to the well-established foreign markets, China's financial services, including fund, insurance and financing, have just taken the first step. As fund and insurance companies aggressively grow their e-commerce businesses, third-party payment enterprises in financial sectors including fund and insurance will become excellent development opportunities and the financial market is expected to become one of the fast-developing markets within the industry. To this point, ChinaPNR, the first firm having obtained the fund sales payment settlement license and owning the one-stop fund payment platform ttyfund.com, has been in the leading position.

As a leading financial payment company in China, ChinaPNR provides a comprehensive range of payment services, including online, POS and mobile payment, with a focus on offering customized integrated payment solutions to its customers. The company's payment transaction volume exceeded 600 billion yuan (approx. US$96.7 billion) in 2012, up 100 percent compared to just over 300 billion yuan (approx. US$48.3 billion) a year earlier. Currently, ChinaPNR has established strategic relationships with 48 fund firms, all of China's airlines, 360buy.com and Suning.com, among other companies, and has become a pioneer in financial payment.

With the continued expansion of the third-party payment market, there will be changes to the market competition pattern. As a result, it is critical for both financial and internet companies to grasp the essence of the new structure of the market, so that they can continuously innovate the business model and lead the revolution across the industry.

Fifi Lu
Phone: +86 21-3332 3999 x8713
Cell: +86 186 2106 8600
Email: [email protected]

SOURCE China PNR

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER gives detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPOalso offers sp...
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
SYS-CON Events announced today that IoT Global Network has been named “Media Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. The IoT Global Network is a platform where you can connect with industry experts and network across the IoT community to build the successful IoT business of the future.