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: fifi.lu@chinapnr.com

SOURCE China PNR