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Home > Business/Finance > Financial Services > Electronic Transactions
China's Online Payment and Mobile Payment Development study in 2005
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| Published Date:
August 2005
Published By:
Research in China
Page Count:
88
Order Code:
R687-19
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In recent years, along with the rapid development of internet and mobile network, various e-commerce are emerging in multitude, making people's life convenient and abundant. Online payment and mobile payment which improve and develop e-commerce gradually become the main payment modes of e-commerce.
According to CNNIC, in 2004 online payment and mobile payment occupied 43.5% in online shopping in China. In China, online payment began to rise since the beginning of 1990s. Currently, online payment has become the new competition hot spot of e-commerce market. Besides banks, there are about over 20 mature third party payment companies in China, however, among which no one can own an obvious advantage. According to business mode, online payment can be divided into prepayment, agency payment, online bank payment and online platform payment. Third party payment which can prevent the cheat in the process of electronic trade has become the mainstream of online payment.
The domestic online payment is mainly established on the debit card system, therefore, the payment risk problem can be controlled effectively. But meantime the profit of domestic payment service is also quite low, only taking 0.5%of the total volume
Nowadays, handset begins to replace cash and credit card in the payment of some shops, therefore the industrialization of mobile payment application emerges accordingly. Recently, the volume of circulation of bank card and handset users have separately amounted to over 0.76 billion and over 0.3 billion, providing great business potential for the development of mobile payment industry in China. Along with the popularization of mobile content and application charge, based on SMS, mobile payment has been accepted gradually, owing wide customer base. But meanwhile, the in-depth application of mobile payment is still in the market cultivation stage.
Currently, there are five access methods of mobile payment: STK; IVR (Interactive Voice Response); USSD; WAP and WWW. At present, the main methods are IVR, STK and WWW.
There are four varieties of mobile payment business mode: mobile paying service, mobile wallet service, mobile banking service and mobile credit platform. At present, the first three have been realized application.
According to the different leading roles of industrial chain, mobile payment industrial chain can be divided into three categories: mobile operators-based industrial chain, bank-based industrial chain and mobile payment operator-based industrial chain. The cooperation of mobile operator and banks with the charge of mobile payment platform by professional company, can avoid the congenital obstacle in the fields of informational security, product development, resource share etc when third party payment platform provider is taking part in. Also it can realize the share and management of financial information service as well as intermediate business of bank, and satisfy users' requirement towards mobile payment service, information security. Therefore this is the most suitable business mode for development of mobile payment industry in China
Research Focus:
- Online/mobile payment varieties and flows
- Development and future trend of global and domestic mobile/online payment market
- Positive and negative factors of mobile/online payment development in China
- Online/mobile payment industrial chains in China
- Domestic main online/mobile payment business, flow and charge
- Providers of main payment system
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